CRH Plc: 2Q EBITDA +7% y/y (+2% vs. JPMe); Beat Driven by Strong AM Materials Execution, Margin Expansion and Acquisition Contributions

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CRH Plc: 2Q EBITDA +7% y/y (+2% vs. JPMe); Beat Driven by Strong AM Materials Execution, Margin Expansion and Acquisition Contributions

J P M O R G A N North America Equity Research

30 July 2026

CRH Plc

2Q EBITDA +7% y/y (+2% vs. JPMe); Beat Driven by Not Rated

Strong AM Materials Execution, Margin Expansion and CRH, CRH US

Acquisition Contributions Price (29 Jul 26):$99.71

Quick Take: CRH delivered a solid 2Q26 result, in our view, with revenues and Americas Construction Materials

adjusted EBITDA modestly ahead of JPMe (+1%/+2% vs JPMe; flattish/ Adrian E Huerta AC

+1% vs cons.), driven by positive pricing momentum, resilient demand, and (52-81) 8152-8720

acquisition contributions, particularly in Americas Materials Solutions. The adrian.huerta@jpmorgan.com

EBITDA beat was supported by stronger-than-expected profitability in Americas J.P.MorganMorganGrupoCasaFinancierode Bolsa, S.A. de C.V., J.P.

Materials, while net income exceeded JPMe by 8%, driven in part by gains on Garrett Greenblatt

divestitures. What we liked: continued margin expansion and strong execution in (1-212) 622-0424

Americas Materials and stronger-than-expected results from Americas Building garrett.greenblatt@jpmorgan.com

Solutions. What we are watching: ongoing weakness in residential end markets J.P. Morgan Securities LLC

within Americas Building Solutions. Management reaffirmed FY26 guidance for European Building & Construction

net income, adjusted EBITDA, and diluted EPS, citing favorable infrastructure and and Infrastructure

reindustrialization demand trends. Elodie Rall AC

(44-20) 7134-5911

2Q Results: Total revenues increased 6% y/y to $10.8bn (+1% vs. JPMe), driven elodie.rall@jpmorgan.com

by positive pricing momentum, favorable demand, and contributions from J.P. Morgan Securities plc