Favorable US Construction Outlook Supports Higher Margins for CRH
We commend CRH’s strategic repositioning toward being a one-stop shop for construction customers by integrating upstream and downstream activities. The group is the most defensive of our European construction materials coverage because of its exposure to publicly funded US infrastructure activity. As the largest roadbuilder in North America, CRH is well-positioned to benefit from a 50% increase in funding for highway and road construction as part of recently signed US legislation.