Q2 FY2026
Filed Jul 30, 2026CRH Reports Second Quarter 2026 Results
Total revenues, net income, Adjusted EBITDA, net income margin, Adjusted EBITDA margin and diluted EPS were all ahead of the prior year, while CRH reaffirmed its 2026 Net income, Adjusted EBITDA and Diluted EPS guidance.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenuesother | $10.8 billion | – | 6% |
| Net incomeother | $1.5 billion | – | 13% |
| Net income marginother | 14.0% | – | +90bps |
| Adjusted EBITDAnon-GAAP | $2.6 billion | – | 7% |
| Adjusted EBITDA marginnon-GAAP | 24.4% | – | +30bps |
| Diluted Earnings Per Shareother | $2.21 | – | 14% |
| Depreciation, depletion and amortization chargesother | $548 million | – | – |
| Interest incomeother | $22 million | – | – |
| Interest expenseother | $220 million | – | – |
| Income tax expenseother | $661 million | – | – |
| Other nonoperating income, netother | $282 million | – | – |
| Total short and long-term debtother | $17.9 billion | – | – |
| Net Debtnon-GAAP | $15.4 billion | – | – |
| Cash and cash equivalents and restricted cashother | $3.1 billion | – | – |
| Undrawn committed facilitiesother | $4.5 billion | – | – |
| Bridge facility agreementother | $5.8 billion | – | – |
| Proceeds from divestitures and disposals of long-lived assetsother | $1.7 billion | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Americas Materials SolutionsPositive pricing momentum and contributions from acquisitions. | Total revenues were 10% ahead of the second quarter of 2025 | – | 10% |
| Americas Building SolutionsThe impact of divestitures and subdued residential demand offset strong performance in the energy and data infrastructure markets, supported by higher data center activity. | Total revenues decreased 2% compared to the second quarter of 2025 | – | 2% |
| International SolutionsPositive pricing momentum, increased activity levels in certain markets and contributions from acquisitions more than offset the impact of divestitures. | Total revenues were 5% ahead of the second quarter of 2025 | – | 5% |
2026 Full Year outlook
- Tax rateapproximately 26%
- NoteNet income: $3.9 billion-$4.1 billion
- NoteAdjusted EBITDA: $8.1 billion-$8.5 billion
- NoteDiluted EPS: $5.60-$6.05
- NoteCapital expenditure: $2.7 billion-$2.9 billion
- NoteInterest expense, net: approximately $0.7 billion
- NoteYear-to-date average of approximately 674 million diluted Common Shares outstanding
- Note2026 capital expenditure guidance is being updated from the previous range of $2.8 billion to $3.0 billion to a new range of $2.7 billion to $2.9 billion
Capital returns
- Quarterly dividend of $0.39 per share, representing a 5% increase on the prior year.
- The dividend will be paid on September 16, 2026, to shareholders registered at the close of business on August 14, 2026.
- CRH repurchased approximately 2.5 million Ordinary Shares for a total consideration of $0.3 billion in the three months ended June 30, 2026.
- CRH repurchased 3.7 million Ordinary Shares for a total consideration of $0.3 billion in the three months ended June 30, 2025.
- The latest tranche of the share buyback program was completed on July 28, 2026, bringing year-to-date repurchases to $0.7 billion.
- CRH has not initiated a new tranche of its share buyback program in connection with the agreement to acquire Arcosa.
What drove it
- Positive pricing momentum, good underlying demand and contributions from acquisitions drove total-revenue growth.
- Disciplined commercial execution, strong performance improvement initiatives and contributions from acquisitions supported Adjusted EBITDA growth.
- Gains on divestitures during the period contributed to net income.
- Americas Materials Solutions benefited from positive pricing momentum, disciplined cost management and acquisitions.
- Americas Building Solutions saw strong performance in energy and data infrastructure markets, supported by higher data center activity, and strong demand in utility infrastructure markets.
- International Solutions benefited from positive pricing momentum, increased activity levels in certain markets, acquisitions, disciplined commercial execution and operational excellence initiatives.
- CRH expects favorable underlying demand across key end-markets, underpinned by significant public investment in infrastructure and continued reindustrialization activity.
Concerns
- Americas Building Solutions faced subdued residential demand, divestitures and cost inflation.
- The new-build residential segment is expected to remain subdued.
- CRH cited current geopolitical and macroeconomic uncertainties.
- The 2026 guidance does not assume any significant one-off or non-recurring items, including the impact of further potential changes to global trade policies, impairments or other unforeseen events.
- The Arcosa transaction remains subject to approval of Arcosa’s stockholders, regulatory approvals and other customary closing conditions.
- Total short and long-term debt and Net Debt were higher than at December 31, 2025.
What to watch
- Closing of the Arcosa acquisition, which is expected to close in Q1 2027 subject to approval of Arcosa’s stockholders, regulatory approvals and other customary closing conditions.
- Execution of the reaffirmed 2026 Net income, Adjusted EBITDA and Diluted EPS guidance.
- Delivery of the updated $2.7 billion-$2.9 billion capital expenditure guidance, reflecting project timing and lower maintenance spend.
- Demand conditions in residential new-build, repair and remodel, infrastructure, energy, data infrastructure and utility infrastructure markets.
- CRH's reevaluation of its share buyback program, subject to market conditions, balance sheet strength, capital allocation priorities and other factors.
Balance sheet and cash flow
- Total short and long-term debt was $17.9 billion at June 30, 2026, compared with $17.7 billion at December 31, 2025.
- Net Debt was $15.4 billion at June 30, 2026, compared to $14.2 billion at December 31, 2025.
- CRH ended Q2 2026 with $3.1 billion of cash and cash equivalents and restricted cash on hand.
- CRH had $4.5 billion of undrawn committed facilities available for use for general corporate purposes, which were available until May 2030.
- CRH entered into a bridge facility agreement for $5.8 billion to finance, in part, the consideration payable in connection with the Arcosa Acquisition, the refinancing of certain of Arcosa’s existing debt and related fees and expenses.
- The increase in Net Debt reflects acquisitions, purchases of property, plant and equipment, and cash returns to shareholders through share buybacks and dividends, partially offset by inflows from operating activities and proceeds from divestitures.
- CRH completed 11 value-accretive acquisitions for a total consideration of $1.1 billion in the three months ended June 30, 2026.
- CRH realized proceeds from divestitures and disposals of long-lived assets of $1.7 billion, net of disposal costs and deferred proceeds, in the three months ended June 30, 2026.
Analysis
CRH reported a strong second quarter, with total revenues of $10.8 billion, up 6%, and net income of $1.5 billion, up 13%. Adjusted EBITDA of $2.6 billion increased 7%. Net income margin reached 14.0% and Adjusted EBITDA margin reached 24.4%, both ahead of the prior year. Diluted Earnings Per Share was $2.21, ahead of $1.94 in Q2 2025.
Revenue performance was led by Americas Materials Solutions, where total revenues were 10% ahead of the second quarter of 2025, supported by pricing and acquisitions. International Solutions total revenues were 5% ahead, with pricing, activity in certain markets and acquisitions offsetting divestitures. Americas Building Solutions total revenues decreased 2%, as divestitures and subdued residential demand outweighed strength in energy, data infrastructure and utility infrastructure markets.
Profit expansion reflected commercial execution, cost management, performance improvement initiatives and acquisition contributions. Net income also benefited from gains on divestitures, with other nonoperating income, net, of $282 million compared with an expense of $9 million in Q2 2025. CRH completed 11 acquisitions for $1.1 billion during the quarter and received $1.7 billion of proceeds from divestitures and disposals of long-lived assets. The company also agreed to acquire Arcosa in an all-cash transaction reflecting a total enterprise value of approximately $8.5 billion.
Capital allocation remained active. CRH repurchased approximately 2.5 million Ordinary Shares for $0.3 billion during the quarter and announced a quarterly dividend of $0.39 per share. Total short and long-term debt was $17.9 billion and Net Debt was $15.4 billion at June 30, 2026. CRH reaffirmed 2026 guidance for Net income of $3.9 billion-$4.1 billion, Adjusted EBITDA of $8.1 billion-$8.5 billion and Diluted EPS of $5.60-$6.05, while reducing capital expenditure guidance to $2.7 billion-$2.9 billion from $2.8 billion to $3.0 billion to reflect project timing and lower maintenance spend.
Management, verbatim
We delivered a strong Q2 performance driven by good commercial execution, favorable underlying demand and further contributions from acquisitions. Our unmatched scale, connected portfolio and leading performance supported higher profits and margin expansion against an inflationary cost backdrop.
Jim Mintern, Chief Executive Officer
Backed by our robust balance sheet and financial capacity, we agreed the $8.5 billion acquisition of Arcosa, which will reinforce our position as the leading aggregates and critical infrastructure player in North America.
Jim Mintern, Chief Executive Officer
Notwithstanding current geopolitical and macroeconomic uncertainties, we remain encouraged by the underlying demand across our key markets and are pleased to reaffirm our guidance for 2026 Net income, Adjusted EBITDA and Diluted EPS, leaving us well positioned to deliver another year of growth and value creation.
Jim Mintern, Chief Executive Officer
Not in the filing
stated, not guessed- GAAP versus non-GAAP designation for total revenues, net income, net income margin and Diluted Earnings Per Share was not explicitly stated in the provided document.
- Gross profit and gross margin.
- Operating income, operating margin and operating expenses.
- Operating cash flow and free cash flow.
- Segment revenue in dollars.
- Segment Adjusted EBITDA values and segment Adjusted EBITDA margins.
- Prior-quarter comparatives for total revenues, net income, margins, Adjusted EBITDA and Diluted Earnings Per Share.
- Previous-release outlook for comparison of reported results against prior guidance.
- Revenue, gross-margin and operating-expense guidance.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.