CRH reported higher third-quarter revenue but flat adjusted EBITDA as cost inflation and weak residential activity offset pricing, acquisitions and operating improvements. Net income fell, mainly because of impairment losses. The building-materials company also completed its $8.5 billion Arcosa acquisition, announced a share repurchase program of up to $6 billion and set out an operating initiative it expects to generate $400 million in annual benefits by the end of 2028.
CRH expects full-year 2026 net income of $3.1 billion to $3.3 billion and adjusted EBITDA of $7.8 billion to $8.0 billion. It described its outlook for 2027 as positive across key markets, without giving further detail in the announcement.
Quarterly and year-to-date results
- Third-quarter revenue was $11.4 billion, up 3% from a year earlier. CRH cited pricing, resilient underlying demand and contributions from acquisitions.
- Adjusted EBITDA was $2.7 billion, unchanged from the third quarter of 2025. Commercial execution, performance-improvement efforts and acquisitions were offset by cost inflation, subdued residential activity and divestitures.
- Net income declined 22% to $1.2 billion, primarily because of impairment losses. Net income margin fell to 10.4% from 13.7%; adjusted EBITDA margin eased to 23.5% from 24.3%.
- For the first nine months of 2026, revenue rose 5% to $29.5 billion and adjusted EBITDA increased 4% to $5.9 billion. Net income fell 9% to $2.5 billion, while net income margin declined to 8.5% from 9.8%.
Capital allocation, acquisitions and operating plans
- CRH announced a share buyback program of up to $6 billion, set to run through the end of 2030. The announcement did not specify a repurchase schedule.
- The company completed its $8.5 billion acquisition of Arcosa, which CRH said strengthens its position in aggregates and critical infrastructure in North America.
- CRH also said it had invested a further $1.9 billion in 27 acquisitions year to date.
- Its new “Velocity” initiative will simplify the operating model, make greater use of technology and data, and aim to increase organizational agility. CRH expects the program to deliver $400 million in annual run-rate benefits by the end of 2028.
What changes for investors
The buyback adds a multiyear share-repurchase commitment alongside CRH’s acquisition spending. Arcosa expands the business in North American aggregates and infrastructure, while Velocity sets a quantified target for operating benefits. In the near term, CRH’s results show revenue growth alongside flat quarterly adjusted EBITDA and lower margins, with cost pressure and weak residential activity remaining drags.