CRH PLC (NYSE:CRH) is one of the best cement stocks to buy according to analysts. On September 9, the company received a significant boost with the election of Patrick Decker to the board of directors. He joins the company with vast experience in accounting and finance from Indiana University. CRH PLC (CRH) Strengthens Finance Expertise with Patrick Decker Appointment Decker has previously served as the president and CEO of Xylem, a leading provider of water technology and solutions. He has also served a ...

Investors are increasingly tuning into market experts for guidance amid a volatile economic landscape. Strategic picks from seasoned analysts can offer valuable insights into potential opportunities and risks.On CNBC's “Halftime Report Final Trades,” Jim Lebenthal, partner at Cerity Partners, named CRH plc CRH as his final trade.As per the recent news, CRH, on Sept. 9, elected Patrick Decker to its board of directors.Jason Snipe, founder and chief investment officer of Odyssey Capital Advisors, said he like ...

want to move on to final trades. Uh Jim Leventhal, you're up first. CR, this is not well known.This is the Bside of a 45, if you will. Um, basically, it's an aggregates company, materials. They make cement, uh, gravel, that sort of stuff.It's bigger than its well-known competitors, Vulcan and Martin Marietta, but it's cheaper and I think it's got more room to run. Yeah, their investor day coming up in about two weeks as well. I'll be there.Jason Snipe, you're up next. Lot of excitement around the cloud infr ...

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on CRH, and highlights the potential misalignment of interests between brokerage firms and retail investors [1][10]. Group 1: Brokerage Recommendations for CRH - CRH has an average brokerage recommendation (ABR) of 1.48, indicating a consensus between Strong Buy and Buy, with 70% of recommendations being Strong Buy and 10% being Buy [2][5]. - Despite the positive ABR, relying solely on this information for investment decisions may not be advisable, as studies show brokerage recommendations often fail to guide investors effectively [5][10]. Group 2: Limitations of Brokerage Recommendations - Brokerage analysts tend to exhibit a strong positive bias in their ratings due to vested interests, leading to a disproportionate number of favorable ratings compared to negative ones [6][10]. - The interests of brokerage firms may not align with those of retail investors, suggesting that brokerage recommendations provide limited insight into future stock price movements [7][10]. Group 3: Zacks Rank as an Alternative - The Zacks Rank, which classifies stocks into five groups based on earnings estimate revisions, is presented as a more reliable indicator of near-term price performance compared to ABR [8][11]. - The Zacks Rank is updated more frequently and reflects changes in earnings estimates, making it a timely tool for predicting stock price movements [12]. Group 4: Current Earnings Outlook for CRH - The Zacks Consensus Estimate for CRH's earnings has declined by 0.2% over the past month to $5.6, indicating growing pessimism among analysts regarding the company's earnings prospects [13]. - This decline in earnings estimates has contributed to a Zacks Rank of 4 (Sell) for CRH, suggesting caution despite the favorable ABR [14].

Financial Data and Key Metrics Changes - CRH reported total revenues of $10.2 billion for Q2 2025, a 6% increase compared to the prior year, driven by favorable underlying demand and strong contributions from acquisitions [9][10] - Adjusted EBITDA for the quarter was $2.5 billion, reflecting a 9% increase year-over-year, with a margin expansion of 70 basis points [10][19] - The company raised its full-year adjusted EBITDA guidance to between $7.5 billion and $7.7 billion, indicating a 10% growth at the midpoint [9][33] Business Line Data and Key Metrics Changes - Americas Materials Solutions saw a 24% increase in total revenues and adjusted EBITDA compared to the prior year, despite adverse weather conditions [11] - Essential Materials reported a 4% increase in revenues, supported by increased volumes and positive pricing momentum in Aggregates and Cement [11] - International Solutions experienced a 13% increase in revenue and a 23% increase in adjusted EBITDA, with significant margin expansion [15] Market Data and Key Metrics Changes - Infrastructure, the largest end market for CRH, continues to benefit from state and federal funding, with less than 40% of IIJA highway funding deployed to date [13][30] - The residential sector in the U.S. is expected to remain subdued, while repair and remodel activities are resilient [31][32] - Positive pricing momentum is anticipated across markets, supported by disciplined commercial management [32] Company Strategy and Development Direction - CRH is focused on reinvesting in high-growth markets and has allocated approximately $1.7 billion across 19 acquisitions and growth CapEx investments [7][20] - The acquisition of EcoMaterial Technologies is expected to enhance CRH's cementitious growth strategy, significantly increasing its production capacity [23][24] - The company emphasizes a connected portfolio strategy to maximize profitability and operational efficiencies across its business segments [25][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying demand across key markets and noted that backlogs are ahead of the prior year [8][40] - The company anticipates continued strong performance in the second half of the year, driven by favorable weather conditions and robust backlogs [40] - Management highlighted the importance of federal and state funding in driving infrastructure demand, with expectations for a supportive legislative environment for future funding [54][56] Other Important Information - CRH has declared a quarterly dividend of $0.37 per share, representing a 6% increase year-over-year, and has repurchased approximately $800 million in shares so far this year [21][22] - The company has a strong pipeline of growth opportunities and plans to maintain a disciplined capital allocation strategy [34][78] Q&A Session Summary Question: Drivers of the full-year guidance increase - Management noted strong Q2 performance with EBITDA up 9% and margins up 70 basis points, despite challenging weather conditions [37] - Infrastructure remains robust, with significant backlogs and positive momentum in July [40] Question: Expectations for U.S. Cement and aggregates - Underlying aggregate volumes were up 5% and pricing up 4% in Q2, with expectations for mid to high single-digit pricing growth for the full year [45][46] Question: Update on federal infrastructure funding - Management indicated a supportive bipartisan environment for the next highway bill, with a focus on surface transportation [54][56] Question: Performance of Adbri and margin expansion drivers - Adbri has performed well since acquisition, and margin expansion is attributed to tight cost control and operational efficiencies [100]

Financial Data and Key Metrics Changes - The company reported total revenues of $10.2 billion for Q2 2025, a 6% increase compared to the prior year, driven by favorable underlying demand and strong contributions from acquisitions [8][9] - Adjusted EBITDA for the quarter was $2.5 billion, reflecting a 9% increase year-over-year, with a margin expansion of 70 basis points [9][17] - The diluted earnings per share increased by 3% compared to the prior year period [9] Business Line Data and Key Metrics Changes - Americas Materials Solutions saw a 24% increase in total revenues and adjusted EBITDA, driven by operational efficiencies and contributions from acquisitions [10] - Essential Materials reported a 4% increase in revenues, supported by increased volumes and positive pricing momentum in Aggregates and Cement [10] - International Solutions experienced a 13% increase in revenue and a 23% increase in adjusted EBITDA, with margin expansion of 170 basis points [14] Market Data and Key Metrics Changes - The infrastructure market remains robust, with less than 40% of the IIJA highway funding deployed, indicating significant future opportunities [12][30] - State transportation budgets for fiscal year 2026 are expected to increase by 6% over the prior year, supporting continued demand [12] - The residential sector in the U.S. is expected to remain subdued, while repair and remodel activities are resilient [30] Company Strategy and Development Direction - The company is focused on reinvesting in high-growth markets and has allocated approximately $1.7 billion across 19 acquisitions and growth CapEx investments [7] - The acquisition of EcoMaterial Technologies for $2.1 billion is expected to enhance the company's cementitious growth strategy and create a unique national distribution network [22][23] - The company emphasizes a connected portfolio that maximizes profitability and operational efficiencies across the construction value chain [25] Management's Comments on Operating Environment and Future Outlook - Management raised the financial guidance for 2025, expecting adjusted EBITDA to be between $7.5 billion and $7.7 billion, representing a 10% growth at the midpoint [8][33] - The company anticipates continued positive momentum in backlogs and underlying demand across key markets [7][30] - Management highlighted the importance of federal and state funding in driving infrastructure demand, with a supportive legislative environment for future funding [30][56] Other Important Information - The company has declared a quarterly dividend of 37¢ per share, a 6% increase from the prior year, and has repurchased approximately $800 million in shares so far this year [19][20] - The company has a strong pipeline of growth opportunities and expects to allocate approximately $35 billion over the next five years for capital investments [34] Q&A Session Summary Question: Drivers of the full year guidance increase - Management noted strong Q2 performance with EBITDA up 9% and margins up 70 basis points despite challenging weather conditions, with robust infrastructure demand and good backlogs contributing to the guidance increase [36][39] Question: Expectations for U.S. Cement and aggregates - Management indicated that underlying aggregate volumes were up 5% and pricing up 4%, with expectations for mid to high single-digit pricing growth for the full year [44][46] Question: Update on federal infrastructure funding and next highway bill - Management confirmed ongoing discussions about the next highway bill, emphasizing a supportive bipartisan environment and the need for a sustainable funding mechanism [52][56] Question: Performance of Adbri and margin expansion drivers - Management reported that Adbri is trading ahead of expectations, with good tailwinds from infrastructure and residential recovery, while margin expansion is attributed to operational excellence and cost control initiatives [99][100]

Q2 2025 Financial Performance - Revenues reached $10.2 billion, a 6% increase year-over-year[13] - Adjusted EBITDA was $2.5 billion, up 9% compared to the previous year[13] - Adjusted EBITDA Margin improved to 24.1%, a 70bps increase[13] - Diluted EPS increased by 3% to $1.94[13] Segment Performance - Americas Materials Solutions reported revenues of $4.509 billion, a 2% increase, and Adjusted EBITDA of $1.241 billion, up 4%, with a margin of 27.5% (+40bps)[16] - Americas Building Solutions achieved revenues of $2.159 billion, a 2% increase, and Adjusted EBITDA of $501 million, up 5%, with a margin of 23.2% (+70bps)[18] - International Solutions saw revenues of $3.538 billion, a 13% increase, and Adjusted EBITDA of $721 million, up 23%, with a margin of 20.4% (+170bps)[20] Capital Allocation and Strategy - The company invested approximately $1.7 billion in 19 acquisitions year-to-date and growth capex[11] - CRH is acquiring Eco Material Technologies for $2.1 billion to accelerate cementitious growth strategy[11, 29] - The company is declaring a quarterly dividend of $0.37 per share, a 6% year-over-year increase[28] 2025 Outlook - The company is raising its full-year 2025 Adjusted EBITDA guidance to $7.5 billion - $7.7 billion[11, 44] - The company anticipates net income between $3.8 billion and $3.9 billion, and diluted EPS between $5.49 and $5.72[44]

Core Insights - CRH reported Q2 2025 GAAP revenue of $10.2 billion and diluted EPS of $1.94, both slightly exceeding analyst expectations [1][5] - Revenue increased by 6.0% year-over-year, while diluted EPS rose by 3.2% compared to Q2 2024 [1][2] - Management raised full-year guidance due to steady demand, pricing improvements, and acquisitions, despite cost pressures and increased net debt [1][13] Financial Performance - Q2 2025 diluted EPS was $1.94, beating estimates by $0.02, and revenue was $10.2 billion, exceeding projections by $61.2 million [1][2] - Adjusted EBITDA for Q2 2025 was $2.5 billion, up 8.7% from Q2 2024 [2][5] - Net income remained stable at $1.3 billion, with a net income margin of 13.1%, down from 13.6% in the previous year [2][12] Business Overview - CRH operates globally, supplying building materials such as cement, aggregates, and asphalt, with a focus on vertical integration [3][4] - The company emphasizes growth in North America, acquisitions, innovation in sustainable products, and operational efficiency [4] Segment Performance - The Americas Materials Solutions segment saw a 2% revenue increase, with acquisitions contributing $214 million [6] - The Americas Building Solutions segment also reported a 2% revenue increase, with acquisitions adding $83 million [7] - International Solutions experienced the strongest growth, with revenues up 13% and adjusted EBITDA up 23%, driven by acquisitions and pricing increases [8][9] Strategic Initiatives - CRH announced a $2.1 billion acquisition of Eco Material Technologies, focusing on sustainable cement and concrete products [9] - The company completed 13 acquisitions totaling $0.7 billion in the first half of 2025, with a disciplined approach to capital allocation [10] Shareholder Returns - CRH returned $0.8 billion to shareholders through share buybacks and raised the quarterly dividend by 6% to $0.37 per share [11][14] - Net debt increased to $13.4 billion, up $3.1 billion from the previous year, highlighting the need for balance sheet strength [11][14] Future Guidance - Management raised FY2025 guidance, expecting net income between $3.8 billion and $3.9 billion, and adjusted EBITDA between $7.5 billion and $7.7 billion [13] - Capital expenditures are projected to remain between $2.8 billion and $3.0 billion for FY2025 [13]

Core Insights - CRH reported revenue of $10.21 billion for the quarter ended June 2025, a year-over-year increase of 5.7% [1] - The EPS for the same period was $1.94, compared to $1.85 a year ago, indicating a positive growth [1] - The reported revenue was a surprise of -1.19% compared to the Zacks Consensus Estimate of $10.33 billion, while the EPS exceeded the consensus estimate of $1.84 by +5.43% [1] Financial Performance Metrics - Revenue from Americas Materials Solutions was $4.51 billion, below the average estimate of $4.7 billion from three analysts [4] - Revenue from International Solutions was $3.54 billion, slightly above the estimated $3.44 billion [4] - Revenue from Americas Building Solutions was $2.16 billion, marginally below the average estimate of $2.17 billion [4] Stock Performance - CRH shares returned +3.5% over the past month, outperforming the Zacks S&P 500 composite's +0.5% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

[General Information](index=1&type=section&id=General%20Information) [Filing Information](index=1&type=section&id=Filing%20Information) This Form 10-Q quarterly report for CRH public limited company covers the period ended June 30, 2025 - The registrant is CRH public limited company, incorporated in Ireland, with its principal executive offices in Dublin[2](index=2&type=chunk) - As of July 23, 2025, the number of outstanding Ordinary Shares was **672,659,283** (excluding Treasury stock of 38,314,040 shares)[7](index=7&type=chunk) Securities Registered on NYSE | Title of each class: | Trading Symbols: | Name of each exchange on which registered: | | :------------------ | :--------------- | :--------------------------------------- | | Ordinary Shares of €0.32 each | CRH | New York Stock Exchange | | 5.200% Guaranteed Notes due 2029 | CRH/29 | New York Stock Exchange | | 5.125% Guaranteed Notes due 2030 | CRH/30 | New York Stock Exchange | | 6.400% Notes due 2033 | CRH/33A | New York Stock Exchange | | 5.400% Guaranteed Notes due 2034 | CRH/34 | New York Stock Exchange | | 5.500% Guaranteed Notes due 2035 | CRH/35 | New York Stock Exchange | | 5.875% Guaranteed Notes due 2055 | CRH/55 | New York Stock Exchange | [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) The report contains forward-looking statements on CRH's future performance, which are subject to risks and uncertainties - Forward-looking statements are identified by words such as 'will', 'anticipates', 'should', 'could', 'would', 'targets', 'aims', 'may', 'continues', 'expects', 'is expected to', 'estimates', 'believes', 'intends' or similar expressions[13](index=13&type=chunk) - Key forward-looking statements include plans for **2025 performance drivers**, demand outlook, macroeconomic trends, government funding, pricing, costs, weather, business strategy, cash returns, financial capacity, acquisitions, divestitures, and the pending acquisition of Eco Material[14](index=14&type=chunk) - Material factors that could cause actual results to differ include economic and financial conditions, industry cyclicality, competition, energy/labor/raw material costs, adverse laws/regulations, unfavorable weather, public sector funding, political uncertainty, and cyberattacks[16](index=16&type=chunk) [PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents CRH's unaudited condensed consolidated financial statements for the six months ended June 30, 2025 [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Unaudited)) Key Income Statement Data (Three Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | Change ($ millions) | Change (%) | | :------------------------------------------------ | :---------------- | :---------------- | :------------------ | :--------- | | Total revenues | 10,206 | 9,654 | 552 | 5.7% | | Gross profit | 4,026 | 3,675 | 351 | 9.5% | | Operating income | 1,935 | 1,829 | 106 | 5.8% | | Net income attributable to CRH | 1,319 | 1,297 | 22 | 1.7% | | Diluted EPS | $1.94 | $1.88 | $0.06 | 3.2% | Key Income Statement Data (Six Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | Change ($ millions) | Change (%) | | :------------------------------------------------ | :---------------- | :---------------- | :------------------ | :--------- | | Total revenues | 16,962 | 16,187 | 775 | 4.8% | | Gross profit | 5,863 | 5,482 | 381 | 6.9% | | Operating income | 1,953 | 1,857 | 96 | 5.2% | | Net income attributable to CRH | 1,225 | 1,413 | (188) | -13.3% | | Diluted EPS | $1.78 | $2.03 | ($0.25) | -12.3% | [Condensed Consolidated Statements of Comprehensive Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Unaudited)) - Currency translation adjustment significantly impacted other comprehensive income, showing a **gain of $511 million** for the three months and **$749 million** for the six months ended June 30, 2025, compared to losses in the prior year periods[18](index=18&type=chunk) Comprehensive Income Attributable to CRH (Three Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | | :-------------------------------- | :---------------- | :---------------- | | Net income | 1,332 | 1,309 | | Other comprehensive income (loss) | 492 | (28) | | Comprehensive income attributable to CRH | 1,780 | 1,281 | Comprehensive Income Attributable to CRH (Six Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | | :-------------------------------- | :---------------- | :---------------- | | Net income | 1,234 | 1,423 | | Other comprehensive income (loss) | 700 | (216) | | Comprehensive income attributable to CRH | 1,885 | 1,216 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) - Goodwill increased to **$11,673 million** at June 30, 2025, from $11,061 million at December 31, 2024, reflecting recent acquisitions[19](index=19&type=chunk) Key Balance Sheet Data (June 30, 2025 vs. December 31, 2024) | Metric | June 30, 2025 ($ millions) | December 31, 2024 ($ millions) | Change ($ millions) | Change (%) | | :----------------------------------- | :------------------------- | :----------------------------- | :------------------ | :--------- | | Total assets | 53,984 | 50,613 | 3,371 | 6.7% | | Total liabilities | 30,354 | 27,763 | 2,591 | 9.3% | | Total equity | 23,241 | 22,466 | 775 | 3.4% | | Cash and cash equivalents | 2,876 | 3,720 | (844) | -22.7% | | Long-term debt | 14,642 | 10,969 | 3,673 | 33.5% | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) - Acquisitions, net of cash acquired, decreased significantly to **$648 million** in H1 2025 from $2,522 million in H1 2024[20](index=20&type=chunk) - Proceeds from debt issuances increased to **$4,542 million** in H1 2025 from $3,370 million in H1 2024, while payments on debt also increased to $3,352 million from $1,691 million[21](index=21&type=chunk) Key Cash Flow Data (Six Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | Change ($ millions) | Change (%) | | :------------------------------------ | :---------------- | :---------------- | :------------------ | :--------- | | Net cash provided by operating activities | 719 | 773 | (54) | -7.0% | | Net cash used in investing activities | (1,795) | (2,617) | 822 | -31.4% | | Net cash used in financing activities | (12) | (515) | 503 | -97.7% | | Decrease in cash and cash equivalents | (883) | (2,444) | 1,561 | -63.9% | [Condensed Consolidated Statements of Changes in Equity](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity%20(Unaudited)) - Dividends declared on Common stock were **$0.37 per common share** for the three months ended June 30, 2025, and **$0.74 per common share** for the six months ended June 30, 2025[22](index=22&type=chunk)[23](index=23&type=chunk) Changes in Equity Attributable to CRH Shareholders (Six Months Ended June 30, 2025) | Item | Amount ($ millions) | | :------------------------------------------ | :------------------ | | Balance at December 31, 2024 | 21,607 | | Net income | 1,225 | | Other comprehensive income | 660 | | Share-based compensation | 66 | | Repurchases and retirement of common stock | (644) | | Shares issued under employee share plans | (56) | | Dividends declared on common stock | (500) | | Adjustment of redeemable noncontrolling interests | (13) | | Balance at June 30, 2025 | 22,345 | [Notes to Condensed Consolidated Financial Statements](index=15&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) [1. Summary of Significant Accounting Policies](index=15&type=section&id=1.%20Summary%20of%20significant%20accounting%20policies) CRH operates in the building materials industry and prepares its financial statements in accordance with U.S. GAAP - CRH is a major producer of aggregates, cement, readymixed concrete, asphalt, precast concrete, and outdoor living products, and a supplier of paving and construction services[28](index=28&type=chunk) - Restricted cash at June 30, 2025, was **$6 million**, primarily linked to government licenses for quarrying[33](index=33&type=chunk) [2. Revenue](index=16&type=section&id=2.%20Revenue) Revenue is disaggregated by three operating segments and four principal activities and products - On June 30, 2025, the Company had **$4,046 million** of transaction price allocated to remaining performance obligations, with the majority expected to be recognized within 12 months[43](index=43&type=chunk) Total Revenues by Segment (Three Months Ended June 30) | Segment | 2025 ($ millions) | 2024 ($ millions) | | :------------------------ | :---------------- | :---------------- | | Americas Materials Solutions | 4,509 | 4,406 | | Americas Building Solutions | 2,159 | 2,116 | | International Solutions | 3,538 | 3,132 | | **Total** | **10,206** | **9,654** | Total Revenues by Segment (Six Months Ended June 30) | Segment | 2025 ($ millions) | 2024 ($ millions) | | :------------------------ | :---------------- | :---------------- | | Americas Materials Solutions | 6,752 | 6,608 | | Americas Building Solutions | 3,841 | 3,809 | | International Solutions | 6,369 | 5,770 | | **Total** | **16,962** | **16,187** | [3. Acquisitions](index=19&type=section&id=3.%20Acquisitions) CRH completed 13 acquisitions for $648 million and announced a binding agreement to acquire Eco Material Technologies - Total cash consideration for acquisitions, net of cash acquired, was **$648 million** for the six months ended June 30, 2025[45](index=45&type=chunk)[46](index=46&type=chunk) - Goodwill of **$371 million** was recognized from acquisitions, with $324 million expected to be tax deductible[47](index=47&type=chunk) - On July 29, 2025, CRH announced the acquisition of Eco Material Technologies for **$2.1 billion**, positioning CRH to meet demand for cementitious products in North America[48](index=48&type=chunk) [4. Accounts Receivable, Net](index=20&type=section&id=4.%20Accounts%20receivable,%20net) Accounts receivable, net, increased to $6,490 million at June 30, 2025, driven by higher trade receivables - The allowance for credit losses increased from $140 million at January 1, 2025, to **$151 million** at June 30, 2025, primarily due to foreign currency translation and other adjustments[53](index=53&type=chunk) Accounts Receivable, Net ($ millions) | Category | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :-------------------------- | :------------ | :---------------- | :------------ | | Trade receivables | 5,326 | 3,829 | 4,788 | | Construction contract assets | 834 | 690 | 887 | | Total accounts receivable | 6,160 | 4,519 | 5,675 | | Less: allowance for credit losses | (151) | (140) | (142) | | Other current receivables | 481 | 441 | 360 | | **Total accounts receivable, net** | **6,490** | **4,820** | **5,893** | [5. Inventories](index=20&type=section&id=5.%20Inventories) Total inventories increased to $5,051 million at June 30, 2025, mainly due to an increase in raw materials Inventories ($ millions) | Category | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :-------------- | :------------ | :---------------- | :------------ | | Raw materials | 2,434 | 2,074 | 2,158 | | Work-in-process | 270 | 267 | 200 | | Finished goods | 2,347 | 2,414 | 2,156 | | **Total inventories** | **5,051** | **4,755** | **4,514** | [6. Goodwill](index=21&type=section&id=6.%20Goodwill) Goodwill increased to $11,673 million at June 30, 2025, due to acquisitions and foreign currency adjustments Goodwill Carrying Value by Segment ($ millions) | Segment | Dec 31, 2024 | Acquisitions | FX Adjustment | Divestitures | June 30, 2025 | | :------------------------ | :----------- | :----------- | :------------ | :----------- | :------------ | | Americas Materials Solutions | 5,803 | 182 | 23 | – | 6,008 | | Americas Building Solutions | 3,070 | 142 | 11 | – | 3,223 | | International Solutions | 2,188 | 47 | 210 | (3) | 2,442 | | **Total** | **11,061** | **371** | **244** | **(3)** | **11,673** | [7. Additional Financial Information](index=22&type=section&id=7.%20Additional%20financial%20information) This section details changes in other current assets, accrued expenses, and other current/noncurrent liabilities Other Current Assets ($ millions) | Category | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :------------------ | :------------ | :---------------- | :------------ | | Prepayments | 451 | 303 | 343 | | Income tax recoverable | 214 | 216 | 140 | | Other | 69 | 230 | 221 | | **Total** | **734** | **749** | **704** | Other Current Liabilities ($ millions) | Category | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :-------------------------- | :------------ | :---------------- | :------------ | | Construction contract liabilities | 396 | 500 | 448 | | Insurance liability | 184 | 185 | 162 | | Income tax payable | 58 | 97 | 26 | | Other | 1,059 | 795 | 786 | | **Total** | **1,697** | **1,577** | **1,422** | [8. Debt](index=23&type=section&id=8.%20Debt) Total long-term debt increased to $15,706 million at June 30, 2025, due to new Senior Notes issuances - In January 2025, CRH issued **$1.25 billion 5.125% Senior Notes due 2030**, **$1.25 billion 5.500% Senior Notes due 2035**, and **$0.5 billion 5.875% Senior Notes due 2055**[63](index=63&type=chunk) - The company's **€3,500 million Revolving Credit Facility (RCF)** was undrawn at June 30, 2025, with $4,104 million (€3,500 million equivalent) available[65](index=65&type=chunk) Total Long-Term Debt ($ millions) | Metric | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :--------------------------------- | :------------ | :---------------- | :------------ | | Total long-term debt | 15,706 | 13,851 | 12,959 | | Less: current portion of long-term debt | (1,064) | (2,882) | (3,059) | | **Long-term debt (non-current)** | **14,642** | **10,969** | **9,900** | Long-Term Debt Maturities (Net of Discounts/Costs) as of June 30, 2025 ($ millions) | Period | Amount | | :------------------ | :----- | | Remainder of 2025 | 1,064 | | 2026 | 2,939 | | 2027 | 1,478 | | 2028 | 1,457 | | 2029 | 2,744 | | 2030 and thereafter | 6,024 | | **Total** | **15,706** | [9. Fair Value Measurement](index=25&type=section&id=9.%20Fair%20value%20measurement) CRH's long-term debt is classified as Level 2, while redeemable noncontrolling interests are Level 3 - Fair value measurements are categorized into **Level 1** (quoted prices in active markets), **Level 2** (observable market data other than quoted prices), and **Level 3** (unobservable data)[71](index=71&type=chunk)[72](index=72&type=chunk) Long-Term Debt Carrying vs. Fair Value ($ millions) | Date | Carrying Value | Fair Value | | :---------------- | :------------- | :--------- | | June 30, 2025 | 15,706 | 15,587 | | December 31, 2024 | 13,851 | 13,604 | | June 30, 2024 | 12,959 | 12,520 | [10. Income Taxes](index=26&type=section&id=10.%20Income%20taxes) The effective tax rate was 24% for the three months and 23% for the six months ended June 30, 2025 Income Tax Expense and Effective Rate | Period | 2025 ($ millions) | 2024 ($ millions) | Effective Tax Rate 2025 | Effective Tax Rate 2024 | | :------------------ | :---------------- | :---------------- | :---------------------- | :---------------------- | | Three months ended June 30 | 425 | 430 | 24% | 25% | | Six months ended June 30 | 367 | 411 | 23% | 22% | [11. Earnings Per Share (EPS)](index=26&type=section&id=11.%20Earnings%20per%20share%20(EPS)) Diluted EPS for the six months ended June 30, 2025, decreased to $1.78 from $2.03 in the prior year Earnings Per Share Attributable to CRH | Period | Basic EPS 2025 | Basic EPS 2024 | Diluted EPS 2025 | Diluted EPS 2024 | | :------------------ | :------------- | :------------- | :--------------- | :--------------- | | Three months ended June 30 | $1.95 | $1.89 | $1.94 | $1.88 | | Six months ended June 30 | $1.79 | $2.05 | $1.78 | $2.03 | Weighted Average Common Shares Outstanding (millions) | Period | Basic 2025 | Basic 2024 | Diluted 2025 | Diluted 2024 | | :------------------ | :--------- | :--------- | :----------- | :----------- | | Three months ended June 30 | 674.8 | 685.5 | 677.7 | 688.8 | | Six months ended June 30 | 675.8 | 686.6 | 679.9 | 691.1 | [12. Accumulated Other Comprehensive Loss](index=27&type=section&id=12.%20Accumulated%20other%20comprehensive%20loss) Accumulated other comprehensive loss decreased to $345 million due to positive currency translation adjustments - Currency translation adjustment contributed **$511 million** in other comprehensive income for the three months ended June 30, 2025, and **$749 million** for the six months ended June 30, 2025[80](index=80&type=chunk) Accumulated Other Comprehensive Loss Components ($ millions) | Component | Balance at March 31, 2025 | Net current-period OCI (loss) | Balance at June 30, 2025 | | :-------------------------- | :------------------------ | :-------------------------- | :----------------------- | | Currency Translation | (627) | 511 | (147) | | Cash Flow Hedges | (86) | (10) | (96) | | Pension and Other Postretirement Plans | (93) | (9) | (102) | | **Total** | **(806)** | **492** | **(345)** | [13. Segment Information](index=28&type=section&id=13.%20Segment%20information) CRH operates through three reportable segments, all of which showed Adjusted EBITDA growth for the period - Americas Materials Solutions provides aggregates, cement, readymixed concrete, asphalt, and paving/construction services in North America[81](index=81&type=chunk) - Americas Building Solutions manufactures and supplies building and infrastructure solutions, including water, energy, telecommunications projects, and outdoor living products[82](index=82&type=chunk) - International Solutions offers integrated building solutions across Europe and Australia, covering infrastructure, commercial, residential, and outdoor living spaces[83](index=83&type=chunk) Adjusted EBITDA by Segment (Three Months Ended June 30) | Segment | 2025 ($ millions) | 2024 ($ millions) | Change ($ millions) | Change (%) | | :------------------------ | :---------------- | :---------------- | :------------------ | :--------- | | Americas Materials Solutions | 1,241 | 1,193 | 48 | 4.0% | | Americas Building Solutions | 501 | 476 | 25 | 5.3% | | International Solutions | 721 | 586 | 135 | 23.0% | | **Total Adjusted EBITDA** | **2,463** | **2,255** | **208** | **9.2%** | Adjusted EBITDA by Segment (Six Months Ended June 30) | Segment | 2025 ($ millions) | 2024 ($ millions) | Change ($ millions) | Change (%) | | :------------------------ | :---------------- | :---------------- | :------------------ | :--------- | | Americas Materials Solutions | 1,300 | 1,208 | 92 | 7.6% | | Americas Building Solutions | 788 | 784 | 4 | 0.5% | | International Solutions | 870 | 708 | 162 | 22.9% | | **Total Adjusted EBITDA** | **2,958** | **2,700** | **258** | **9.6%** | [14. Pension and Other Postretirement Benefits](index=31&type=section&id=14.%20Pension%20and%20other%20postretirement%20benefits) Net periodic benefit cost for pension plans totaled $12 million for the six months ended June 30, 2025 Net Periodic Benefit Cost (Six Months Ended June 30, 2025) | Component | U.S. ($ millions) | Non-U.S. ($ millions) | | :---------------------- | :---------------- | :-------------------- | | Service cost | 1 | 20 | | Interest cost | 12 | 42 | | Expected return on assets | (11) | (49) | | Amortization of past service credit | – | (6) | | Amortization of actuarial loss | – | 3 | | **Net periodic benefit cost** | **2** | **10** | [15. Variable Interest Entities](index=32&type=section&id=15.%20Variable%20interest%20entities) CRH consolidates its Philippines operations as a Variable Interest Entity (VIE) with total assets of $1,283 million - CRH's Philippines operations are consolidated as a VIE due to the Company's **55% share of earnings** and distributions and control through contractual relationships, despite holding only 40% equity[92](index=92&type=chunk) Consolidated VIE Balance Sheet Data ($ millions) | Metric | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :-------------------- | :------------ | :---------------- | :------------ | | Total assets | 1,283 | 1,264 | 1,277 | | Total liabilities | 704 | 673 | 658 | Consolidated VIE Operating Results (Six Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | | :------------- | :---------------- | :---------------- | | Total revenues | 166 | 194 | | Gross (loss) profit | 1 | 18 | | Net loss | (30) | (12) | | Net cash used in operating activities | (12) | (2) | [16. Redeemable Noncontrolling Interests](index=33&type=section&id=16.%20Redeemable%20noncontrolling%20interests) Redeemable noncontrolling interests increased to $389 million and are classified as temporary equity - Redeemable noncontrolling interests are adjusted to their expected redemption values, with an offsetting entry to retained earnings, if those amounts exceed their carrying values[95](index=95&type=chunk) Redeemable Noncontrolling Interests ($ millions) | Metric | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :------------------------------------------ | :------------ | :---------------- | :------------ | | Balance at period start | 384 | 384 | 333 | | Net income attributable to redeemable NCI | 8 | 8 | 12 | | Adjustment to the redemption value | 13 | 13 | 7 | | Dividends paid | (16) | (16) | (17) | | **Balance at period end** | **389** | **384** | **335** | [17. Commitments and Contingencies](index=33&type=section&id=17.%20Commitments%20and%20contingencies) CRH has provided letters of guarantee totaling $14.9 billion for subsidiary obligations as of June 30, 2025 - Letters of guarantee for subsidiary obligations (loans, borrowings, bank advances, derivatives) amounted to **$14.9 billion** at June 30, 2025[97](index=97&type=chunk) - Letters of credit due within one year totaled **$0.5 billion** at June 30, 2025[97](index=97&type=chunk) [18. Subsequent Events](index=33&type=section&id=18.%20Subsequent%20events) No subsequent events requiring adjustment or disclosure were identified after the reporting period - No subsequent events requiring adjustment or disclosure were identified[99](index=99&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses CRH's operational and financial performance for the six months ended June 30, 2025 [Introduction and Overview](index=35&type=section&id=Introduction%20and%20Overview) - CRH is a leading provider of building materials, integrating essential materials, value-added building products, and construction services across 28 countries[103](index=103&type=chunk)[105](index=105&type=chunk) - The United States is expected to be a **key driver of future growth** due to economic expansion, population growth, and significant public investment in construction[105](index=105&type=chunk) - Acquisitions have accounted for approximately **60% of CRH's profit growth** over the last decade, achieved by integrating businesses and generating synergies[106](index=106&type=chunk) - Construction industry activity is seasonal, with higher activity in spring, summer, and autumn, and can be significantly impacted by adverse weather conditions[107](index=107&type=chunk) [Financial Performance Highlights](index=35&type=section&id=Financial%20Performance%20Highlights) Financial Performance Highlights (Three Months Ended June 30) | Metric | 2025 | 2024 | Change | Change (%) | | :-------------------- | :--------- | :--------- | :------- | :--------- | | Total revenues | $10.2 billion | $9.654 billion | +$0.552 billion | +6% | | Net income | $1.3 billion | $1.309 billion | +$23 million | +1.8% | | Adjusted EBITDA* | $2.5 billion | $2.255 billion | +$208 million | +9% | | Net income margin | 13.1% | 13.6% | -50 bps | | | Adjusted EBITDA margin* | 24.1% | 23.4% | +70 bps | | | Diluted EPS | $1.94 | $1.88 | +$0.06 | +3.2% | Financial Performance Highlights (Six Months Ended June 30) | Metric | 2025 | 2024 | Change | Change (%) | | :-------------------- | :--------- | :--------- | :------- | :--------- | | Total revenues | $17.0 billion | $16.187 billion | +$0.775 billion | +5% | | Net income | $1.2 billion | $1.4 billion | -$189 million | -13.5% | | Adjusted EBITDA* | $3.0 billion | $2.7 billion | +$258 million | +10% | | Net income margin | 7.3% | 8.8% | -150 bps | | | Adjusted EBITDA margin* | 17.4% | 16.7% | +70 bps | | | Diluted EPS | $1.78 | $2.03 | -$0.25 | -12.3% | [Capital Allocation Highlights](index=37&type=section&id=Capital%20allocation%20highlights) - Cash returned to shareholders through share buybacks was **$0.6 billion** in the first six months of 2025, with an additional $0.3 billion tranche announced[115](index=115&type=chunk) - Cash paid to shareholders through dividends was **$0.5 billion**, a decrease from $1.2 billion in the prior year due to a non-recurring second interim 2023 dividend in Q1 2024[115](index=115&type=chunk) - **13 acquisitions** were completed for $0.7 billion, and $1.3 billion was invested in development and replacement capital expenditure projects[115](index=115&type=chunk) [Development Review](index=37&type=section&id=Development%20Review) - CRH completed five acquisitions for **$0.1 billion** in Q2 2025 and 13 acquisitions for **$0.7 billion** in H1 2025[111](index=111&type=chunk) - The acquisition of Eco Material Technologies for **$2.1 billion** is expected to close in 2025, enhancing CRH's position in North American cementitious products[112](index=112&type=chunk) - Cash proceeds from divestitures and disposals of long-lived assets were **$31 million** in Q2 2025 and **$0.1 billion** in H1 2025, significantly lower than the prior year[113](index=113&type=chunk) [Outlook](index=37&type=section&id=Outlook) - CRH **raises its financial guidance for 2025**, expecting favorable underlying demand driven by significant public investment in infrastructure and re-industrialization[114](index=114&type=chunk) - The new-build residential segment is expected to remain subdued, while repair and remodel activity is anticipated to be resilient[114](index=114&type=chunk) - The company anticipates **another year of growth and value creation in 2025**, assuming normal seasonal weather and stable political/macroeconomic conditions[114](index=114&type=chunk) [Results of Operations Analysis](index=39&type=section&id=Results%20of%20Operations%20Analysis) - Gross profit margin increased by **130bps to 39.4%** for Q2 2025 and by **70bps to 34.6%** for H1 2025, despite higher labor costs and depreciation/amortization[120](index=120&type=chunk)[121](index=121&type=chunk) - Interest expense increased by **$45 million (Q2)** and **$93 million (H1)** due to higher gross debt balances[127](index=127&type=chunk) - Net income for H1 2025 decreased by **$189 million**, primarily due to the non-recurrence of gains on prior year divestitures[134](index=134&type=chunk) Key Financial Metrics (Three Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | Change ($ millions) | Change (%) | | :------------------------------------------------ | :---------------- | :---------------- | :------------------ | :--------- | | Total revenues | 10,206 | 9,654 | 552 | 5.7% | | Gross profit | 4,026 | 3,675 | 351 | 9.5% | | Selling, general and administrative expenses | (2,120) | (1,948) | (172) | 8.8% | | Operating income | 1,935 | 1,829 | 106 | 5.8% | | Net income attributable to CRH | 1,319 | 1,297 | 22 | 1.7% | | Diluted EPS | $1.94 | $1.88 | $0.06 | 3.2% | Key Financial Metrics (Six Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | Change ($ millions) | Change (%) | | :------------------------------------------------ | :---------------- | :---------------- | :------------------ | :--------- | | Total revenues | 16,962 | 16,187 | 775 | 4.8% | | Gross profit | 5,863 | 5,482 | 381 | 6.9% | | Selling, general and administrative expenses | (3,953) | (3,735) | (218) | 5.8% | | Operating income | 1,953 | 1,857 | 96 | 5.2% | | Net income attributable to CRH | 1,225 | 1,413 | (188) | -13.3% | | Diluted EPS | $1.78 | $2.03 | ($0.25) | -12.3% | [Segment Performance Analysis](index=43&type=section&id=Segment%20Performance%20Analysis) - International Solutions saw strong growth in Essential Materials (**11% revenue increase**) and Road Solutions (**14% revenue increase**) for H1 2025, benefiting from acquisitions and pricing[159](index=159&type=chunk)[160](index=160&type=chunk) Americas Materials Solutions Performance (Six Months Ended June 30) | Metric | 2024 ($ millions) | Acquisitions | Divestitures | Organic | 2025 ($ millions) | % Change | | :---------------- | :---------------- | :----------- | :----------- | :------ | :---------------- | :------- | | Total revenues | 6,608 | +358 | (16) | (185) | 6,752 | +2% | | Adjusted EBITDA | 1,208 | +57 | +6 | +30 | 1,300 | +8% | | Adjusted EBITDA margin | 18.3% | | | | 19.3% | +100bps | Americas Building Solutions Performance (Six Months Ended June 30) | Metric | 2024 ($ millions) | Acquisitions | Divestitures | Organic | 2025 ($ millions) | % Change | | :---------------- | :---------------- | :----------- | :----------- | :------ | :---------------- | :------- | | Total revenues | 3,809 | +143 | (19) | (87) | 3,841 | +1% | | Adjusted EBITDA | 784 | +37 | (3) | (30) | 788 | +1% | | Adjusted EBITDA margin | 20.6% | | | | 20.5% | -10bps | International Solutions Performance (Six Months Ended June 30) | Metric | 2024 ($ millions) | Acquisitions | Divestitures | Organic | 2025 ($ millions) | % Change | | :---------------- | :---------------- | :----------- | :----------- | :------ | :---------------- | :------- | | Total revenues | 5,770 | +800 | (158) | (149) | 6,369 | +10% | | Adjusted EBITDA | 708 | +103 | (11) | +44 | 870 | +23% | | Adjusted EBITDA margin | 12.3% | | | | 13.7% | +140bps | [Non-GAAP Reconciliation and Supplementary Information](index=48&type=section&id=Non-GAAP%20Reconciliation%20and%20Supplementary%20Information) - CRH uses non-GAAP measures like **Adjusted EBITDA**, **Net Debt**, **Organic Revenue**, and **Organic Adjusted EBITDA** to monitor financial performance and provide additional insight to investors[163](index=163&type=chunk)[165](index=165&type=chunk)[168](index=168&type=chunk)[171](index=171&type=chunk) Adjusted EBITDA Reconciliation (Six Months Ended June 30) | Metric | 2025 ($ millions) | 2024 ($ millions) | | :------------------------------------ | :---------------- | :---------------- | | Net income | 1,234 | 1,423 | | Income tax expense | 367 | 411 | | Interest expense, net of interest income | 314 | 209 | | Depreciation, depletion and amortization | 1,005 | 821 | | Substantial acquisition-related costs | – | 22 | | **Adjusted EBITDA** | **2,958** | **2,700** | Net Debt Reconciliation ($ millions) | Metric | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :------------------------------ | :------------ | :---------------- | :------------ | | Short and long-term debt | (15,813) | (13,968) | (13,118) | | Cash and cash equivalents | 2,876 | 3,720 | 3,077 | | Finance lease liabilities | (442) | (257) | (147) | | Derivative financial instruments (net) | (27) | (27) | (91) | | **Net Debt** | **(13,406)** | **(10,532)** | **(10,279)** | [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) - CRH's primary liquidity sources are cash flows from operating activities, cash and cash equivalents, uncommitted commercial paper programs, and committed credit lines[173](index=173&type=chunk) - Total short and long-term debt increased to **$15.8 billion** at June 30, 2025, from $14.0 billion at December 31, 2024, driven by new Senior Notes issuances[174](index=174&type=chunk) - Net Debt increased to **$13.4 billion** at June 30, 2025, from $10.5 billion at December 31, 2024, reflecting cash returns to shareholders and acquisitions[175](index=175&type=chunk) - Net cash provided by operating activities decreased by **$54 million to $0.7 billion** for H1 2025, primarily due to higher working capital investments[179](index=179&type=chunk) - Net cash used in investing activities decreased by **$0.8 billion to $1.8 billion** for H1 2025, mainly due to lower acquisition spend[181](index=181&type=chunk) - Net cash used in financing activities decreased by **$503 million to $12 million** for H1 2025, driven by increased debt issuances and lower dividend payments[182](index=182&type=chunk) Credit Ratings at June 30, 2025 | Agency | Short-Term | Long-Term | Outlook | | :----- | :--------- | :-------- | :------ | | S&P | A-2 | BBB+ | Stable | | Moody's | P-2 | Baa1 | Stable | | Fitch | F1 | BBB+ | Stable | Contractual Obligations Maturity Profile at June 30, 2025 ($ millions) | Category | Total | Less than 1 year | 2-3 years | 4-5 years | More than 5 years | | :------------------------------------------ | :---- | :--------------- | :-------- | :-------- | :---------------- | | Short and long-term debt | 15,886 | 1,185 | 4,452 | 4,216 | 6,033 | | Lease liabilities | 2,321 | 350 | 662 | 354 | 955 | | Estimated interest payments on committed debt | 5,355 | 633 | 1,112 | 839 | 2,771 | | Deferred and contingent acquisition consideration | 51 | 31 | 16 | 3 | 1 | | Purchase obligations | 2,266 | 1,291 | 614 | 114 | 247 | | Retirement benefit obligation commitments | 18 | 3 | 6 | 4 | 5 | | **Total** | **25,897** | **3,493** | **6,862** | **5,530** | **10,012** | [Critical Accounting Policies and Estimates & Available Information](index=54&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates%20&%20Available%20Information) - There have been **no material changes** to critical accounting policies and estimates disclosed in the 2024 Form 10-K[201](index=201&type=chunk) - CRH makes its SEC filings, earnings updates, presentations, and corporate governance policies available on its website (www.crh.com) and uses social media channels like LinkedIn for announcements[202](index=202&type=chunk)[203](index=203&type=chunk)[205](index=205&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) CRH is exposed to market risks from foreign exchange, interest rates, and commodity prices - CRH uses interest rate swaps, foreign exchange forwards and swaps, and commodity contracts to manage market risks[207](index=207&type=chunk) - At June 30, 2025, **86% of total debt was fixed rate** ($14.0 billion) and 14% was floating rate ($2.3 billion)[210](index=210&type=chunk) - A **100bps increase in interest rates** would result in an approximately **$6 million favorable impact** on before-tax earnings and cash flows at June 30, 2025[211](index=211&type=chunk) - The U.S. Dollar equivalent gross notional amount of foreign exchange forward contracts was **$3.8 billion** at June 30, 2025[213](index=213&type=chunk) - A **10% weakening in foreign currency exchange rates** versus the U.S. Dollar would decrease the fair market value of foreign currency contracts by approximately **$27 million**[214](index=214&type=chunk) - Commodity price risks (oil, electricity, coal, carbon credits) are managed through negotiated supply contracts, forward contracts, and derivative hedging programs[215](index=215&type=chunk)[216](index=216&type=chunk) [Item 4. Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025 - Disclosure controls and procedures were evaluated and deemed **effective** as of June 30, 2025, providing reasonable assurance[218](index=218&type=chunk) - **No material changes** in internal control over financial reporting occurred during the quarter[221](index=221&type=chunk) [PART II - OTHER INFORMATION](index=58&type=section&id=PART%20II%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=58&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any legal proceedings expected to have a material adverse effect - No pending legal proceedings are expected to have a **material adverse effect** on the Company's financial condition, results of operations, or liquidity[222](index=222&type=chunk) - No relevant legal proceedings under environmental laws met the **$1 million disclosure threshold**[222](index=222&type=chunk) [Item 1A. Risk Factors](index=58&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the 2024 Form 10-K - **No material changes** to risk factors disclosed in the 2024 Form 10-K[223](index=223&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=58&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) CRH repurchased 3.7 million Ordinary Shares for $0.3 billion during the second quarter of 2025 - The share repurchase program has returned a total of **$9.0 billion** to shareholders since its commencement in May 2018[224](index=224&type=chunk) Issuer Purchases of Equity Securities (Q2 2025) | Period | Total Number of Shares Purchased | Average Price Paid per Share | | :----------------------- | :----------------------------- | :--------------------------- | | April 1 – April 30, 2025 | 1,582,410 | $86.53 | | May 1 – May 31, 2025 | 1,047,549 | $95.70 | | June 1 – June 30, 2025 | 1,064,785 | $90.89 | | **Total** | **3,694,744** | | [Item 3. Defaults Upon Senior Securities](index=58&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the reporting period - None[225](index=225&type=chunk) [Item 4. Mine Safety Disclosures](index=58&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Mine safety violation information is included in Exhibit 95 to this Quarterly Report - Mine safety disclosures are provided in **Exhibit 95** of this Quarterly Report[226](index=226&type=chunk) [Item 5. Other Information](index=58&type=section&id=Item%205.%20Other%20Information) This section details an amended CEO service agreement and deadlines for shareholder proposals for the 2026 AGM - The CEO's (Jim Mintern) service agreement was amended to align with updated compensation frameworks and U.S. market practice, specifically regarding **Change in Control benefits**[227](index=227&type=chunk) - Shareholder proposals for the 2026 AGM under Rule 14a-8 must be received by **November 28, 2025**[232](index=232&type=chunk) - Other nominations or business proposals for the 2026 AGM must be received between **January 8, 2026, and February 7, 2026**[233](index=233&type=chunk) - No Director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the three months ended June 30, 2025[235](index=235&type=chunk) [Item 6. Exhibits](index=61&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed as part of, or incorporated by reference into, this Quarterly Report - Key exhibits include the Memorandum and Articles of Association, CRH plc Equity Incentive Plan, various share unit award agreements, the Amended & Restated Group Chief Executive Officer Service Agreement, and certifications from the CEO and CFO[239](index=239&type=chunk) [Signatures](index=62&type=section&id=Signatures) The report is duly signed on behalf of the company by the Chief Financial Officer on August 6, 2025 - The report was signed by **Nancy Buese, Chief Financial Officer**, on August 6, 2025[240](index=240&type=chunk)