CRH Q2’26: Consistent execution comes from the integrated portfolio (with model update)

研报英文原文证据摘录

CRH Q2’26: Consistent execution comes from the integrated portfolio (with model update)

30 July 2026

Pujarini Ghosh, CFA

+44 20 7676 6807

European Construction & Building Materials pujarini.ghosh@bernsteinsg.com

Victor AcitoresCRH PLC

+34 915 893 901

Rating victor.acitores@bernsteinsg.com

Outperform Specialist Sales

Sara Bellenda

Price Target +44 20 7762 1867

sara.bellenda@bernsteinsg.com

CRH.US 150.00 USD

CRH Q2'26: Consistent execution comes from the integrated

portfolio (with model update)

CRH reported their Q2’26 results followed by a conference call at 8:00am ET today. In this

Close Date 29 Jul 2026

note, we highlight our key takeaways from the call just concluded and update our model.

CRH.US Close Price (USD) 99.71

US Infra will continue driving growth in the medium term: Management highlighted Price Target (USD) 150.00

that there is bipartisan support for infrastructure, and they see 3 key positives in the Build Upside/(Downside) 50%

America Act: (i) the core infrastructure funding is increasing vs the IIJA, (ii) permitting 52-Week Range 131.55/93.58

initiatives to accelerate deployment (vs the ~60% conversion for the IIJA) and (iii) the EDME 1,601.43

new funding mechanism over and above the federal gas tax which has been the primary FYE Dec

fundraising mechanism since the early 1990s. We could see a continuing resolution, if we do Div Yield 1.6%

not get the final law by fall, but this should be positive as the starting point of that extension Market Cap (USD) (M) 63,967

is coming off record investment levels. This combined with the remaining IIJA funds, provides EV (USD) (M) 82,064

a strong set-up for the next several years, which resonates with our view and should alleviate Performance YTD 1M 6M 12M

market concerns of pullback in infrastructure spending.