Summary
CRH Public Ltd Co filed an annual report amendment (10-K/A) on March 14, 2024, for the period ending December 30, 2023. The filing primarily details corporate governance, executive compensation, and director information. A significant theme is CRH's transition to a primary listing on the NYSE, which influences its reporting and governance practices, moving towards U.S. domestic issuer standards. The report highlights the robust governance framework CRH has in place, emphasizing Board composition, diversity, and shareholder engagement. It details the roles and responsibilities of various Board committees, including Audit, Compensation, and Nomination & Corporate Governance, showcasing their active oversight throughout 2023. Executive compensation is significantly performance-based, with a strong emphasis on aligning executive interests with long-term shareholder value through various incentive plans and stock ownership guidelines.
Financial Highlights
56 data points| Revenue | $34.95B |
| Cost of Revenue | $22.99B |
| Gross Profit | $11.96B |
| SG&A Expenses | $7.49B |
| Operating Income | $4.19B |
| Interest Expense | $376.00M |
| Net Income | $3.18B |
| EPS (Basic) | $4.36 |
| EPS (Diluted) | $4.33 |
| Shares Outstanding (Basic) | 723.90M |
| Shares Outstanding (Diluted) | 729.20M |
Key Highlights
- 1CRH completed its transition to a primary listing on the NYSE in 2023, aligning its governance and compensation practices more closely with U.S. standards.
- 2The company maintains a strong corporate governance structure with independent directors and active Board committees overseeing key areas like finance, audit, compensation, and sustainability.
- 3Executive compensation is heavily weighted towards performance-based incentives, including annual bonuses and long-term Performance Share Plan (PSP) awards tied to financial metrics like EPS, Cash Flow, RONA, and Total Shareholder Return (TSR).
- 4In 2023, Executive Directors Albert Manifold and Jim Mintern achieved strong performance, with their annual bonuses capped at 90% of the maximum due to economic conditions, and their 2021 PSP awards vesting at 100% due to strong company performance.
- 5Shareholder engagement is a priority, with significant engagement on corporate governance, strategy, capital allocation, and sustainability matters.
- 6The company is committed to sustainability, with an industry-leading target of a 30% reduction in absolute carbon emissions by 2030 and investments in innovative technologies.
- 7CRH has robust stock ownership guidelines for its executive directors and policies against hedging and pledging of company shares to further align interests with shareholders.