CRH Forecasts Growth After Beating 2023 Profit Target

CRH, the largest building materials producer in the United States and Europe has posted robust growth, exceeding its profit targets for 2023 and providing an optimistic forecast for 2024.
The Dublin-based company, which generates around 75% of its profits in the United States, forecasts a core profit growth of 6% to 10% for 2024, following a significant 15% growth in 2023 that surpassed its initial guidance.

CRH projects full-year adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) to be between $6.55 billion and $6.85 billion for 2024, compared to the $6.2 billion adjusted EBITDA it achieved in 2023.
The company’s transition to the U.S. GAAP reporting standard and move to the New York Stock Exchange last September reflects its ongoing international growth and market expansion strategy.
CRH anticipates a favorable market landscape in 2024, buoyed by robust infrastructure investment and a surge in reshoring manufacturing activities across its key markets in North America and Europe.
With its solid performance in 2023 and positive outlook for 2024, CRH remains poised for continued growth and success in the competitive building materials industry.