01—Abstract
Summary
Summary of the 10-Q filed May 5, 2025. Cited figures are marked; the original filing is the authoritative source.
CRH Public Ltd Co (CRH) reported its first-quarter results for the period ending March 30, 2025.
Total revenues saw a modest increase of 3% year-over-year, reaching $6.8 billiona. However, the company experienced a net loss of $98 million for the quarter, a significant decrease from the $114 million net income reported in the prior year's first quarter. This shift is largely attributed to the non-recurrence of substantial gains from divestitures recognized in the first quarter of 2024, alongside increased interest expenses and higher depreciation charges.
Despite the net loss, Adjusted EBITDA demonstrated an 11% increase to $495 millionb, driven by pricing improvements, acquisitions, and disciplined cost management across its segments, particularly in the International Solutions segment. CRH continued its strategic focus on acquisitions, completing eight deals for a total consideration of $0.6 billion in the quarter, a decrease from the significant investment in the prior year. The company also returned capital to shareholders through $0.3 billion in share repurchases and declared a quarterly dividend of $0.37 per share.
Management reaffirms its financial guidance for 2025, anticipating positive underlying demand driven by infrastructure investments and re-industrialization, while the residential new-build segment is expected to remain subdued. The company's strong balance sheet and differentiated strategy are positioned to support continued growth and value creation.
02—Key points
Key Highlights
- Total revenues increased by 3% to $6.8 billion compared to Q1 2024.
- Reported a net loss of $98 million for Q1 2025, a decrease from a net income of $114 million in Q1 2024.
- Adjusted EBITDA increased by 11% to $495 million, indicating underlying operational strength.
- Completed eight acquisitions totaling $0.6 billion in the first quarter, a decrease from $2.2 billion in Q1 2024.
- Returned $0.3 billion to shareholders through share repurchases and declared a quarterly dividend of $0.37 per share.
- Long-term debt increased to $15.6 billion from $14.0 billion at the end of 2024, partly due to new debt issuances totaling $3.0 billion in January 2025.
- Affirmed 2025 financial guidance, expecting positive demand driven by infrastructure investment.
03—One dollar
Follow one dollar
For each $1.00 of revenue in Q1 FY2025, CRH Public Ltd Co lost $0.01.
- Revenue$6.76B100.0%
- Cost of revenue−$4.92B72.8%
- Gross profit$1.84B27.2%
- Operating costs−$1.82B26.9%
- Operating income$18.0M0.3%
- Interest, other & tax−$112.0M1.7%
- Net income−$94.0M1.4%
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2025filed May 5, 2025Financial Statements
Q1 FY2025 against Q1 FY2024
| Line item | Q1 FY2025Q1 FY2024 | Change |
|---|---|---|
| Revenue | $6.76B$6.53B | +3.4% |
| Cost of Revenue | $4.92B$4.73B | +4.1% |
| Gross Profit | $1.84B$1.81B | +1.7% |
| SG&A Expenses | $1.83B$1.79B | +2.6% |
| Operating Income | $18.00M$28.00M | −35.7% |
| Net Income | -$94.00M$116.00M | −181.0% |
| EPS (Basic) | $-0.15$0.16 | −193.7% |
| EPS (Diluted) | $-0.15$0.16 | −193.7% |
| Shares Outstanding (Basic) | 676.70M687.80M | −1.6% |
| Shares Outstanding (Diluted) | 676.70M693.40M | −2.4% |
05—Questions
Frequently Asked Questions
What led to the net loss in the first quarter of 2025?
The net loss of $98 million in the first quarter of 2025, compared to a net income of $114 million in the prior year, was primarily due to the non-recurrence of significant gains from divestitures that were recognized in Q1 2024. Additionally, higher interest expenses and increased depreciation charges contributed to the decline in net income.
How did CRH's acquisition strategy evolve in the first quarter of 2025?
CRH completed eight acquisitions for a total consideration of $0.6 billion in Q1 2025. This represents a decrease in acquisition spending compared to the $2.2 billion invested in the same period of 2024, indicating a potentially more selective approach to acquisitions in the current quarter.
What is CRH's outlook for the remainder of 2025?
CRH reaffirms its financial guidance for 2025, expecting positive underlying demand across its key end-use markets. This outlook is supported by significant public investment in critical infrastructure and re-industrialization activity. While the new-build residential segment is expected to remain subdued, repair and remodel activity is anticipated to remain resilient.
How did CRH manage its debt and capital during the quarter?
CRH increased its total debt to $15.6 billion primarily due to new senior note issuances totaling $3.0 billion in January 2025. The company returned $0.3 billion to shareholders via share repurchases and declared a quarterly dividend of $0.37 per share. The company maintains significant liquidity with $3.4 billion in cash and cash equivalents and undrawn committed facilities of $3.9 billion.
06—Continue