CRH Confirms Guidance After Revenue, Earnings Growth

By Elena Vardon

CRH backed its guidance for the year as it posted a rise in its main metrics for the first quarter on positive pricing and good weather.

The Irish building-materials supplier said Friday that its revenue for the first three months of the year rose 2% to $6.5 billion. Net income attributable to shareholders came in at $116 million compared with a loss of $28 million in the same quarter the previous year, it said.

Adjusted earnings before interest, taxes, depreciation and amortization was $445 million, up from $386 million, it said.

"That performance was supported by positive pricing momentum, early-season project activity, favorable weather in certain regions and the contribution from acquisitions," Chief Executive Albert Manifold said.

For the full year, the group still expects net income of between $3.55 billion and $3.80 billion with adjusted Ebitda in the $6.55 billion to $6.85 billion range.

The company declared a new quarterly dividend of $0.35.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

May 10, 2024 02:33 ET (06:33 GMT)

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