CRH Plc

Q3 2026 performance (resilient but pressured): - Total revenues $11.4bn (+3% YoY) driven by underlying demand, pricing momentum, and acquisitions. - Adjusted EBITDA $2.7bn (flat YoY); ~24% margin, but 80 bps behind prior year due to cost inflation. - Earnings: diluted EPS (pre-impairment) $2.09, including Velocity transformation-related costs.

Why guidance was cut/softened (key downside drivers): - Full-year Adjusted EBITDA guidance updated to $7.8bn–$8.0bn (still growth, but constrained vs prior expectations). - Main headwind since July: sharp, sustained diesel/energy cost increases (~+40% in a short period) flowing into haulage and other input costs, with the company assuming elevated energy costs persist through Q4. - Residential activity softened further (linked to higher interest rates/affordability), reducing volumes across parts of the U.S. business. - Guidance also assumes normal weather (Q4 weather sensitivity).

Business segment highlights (mixed; some “good” offsets): - Americas Materials Solutions: revenues +6% but EBITDA +1% (affected by cost inflation + muted residential). - Aggregates: volumes +2%, pricing +5% (≈ +6% mix-adjusted). - Road Solutions: revenues +2%, supported by pricing, but margins pressured by costs. - Americas Building Solutions: revenues and EBITDA down (3% and 18% vs prior year) due to divestitures, subdued residential, and non-recurrence of a prior-year land sale gain (but EBITDA ex-land-sale impact was ahead). - International Solutions: revenues +1% with EBITDA +6% and +110 bps margin expansion (pricing + disciplined costs).