CRH (NYSE:CRH) has announced its Q1 2024 financial results, showcasing a solid start to the year with revenues hitting $6.5 billion, marking a 2% increase from the previous year.
This positive outcome was attributed to favorable pricing dynamics, robust early-season project activities, and benign weather conditions in key markets.
Notably, the report highlights a net income of $114 million, a significant turnaround from the net loss recorded in Q1 2023.
This improvement in performance was also reflected in the net income margin, which rose by 220 basis points to 1.7%, and an adjusted EBITDA margin increase of 80 basis points to 6.8%.
Amidst this financial growth, CRH made strategic moves to expand its market presence, notably completing a $2.1 billion acquisition of materials assets in Texas and securing a $0.7 billion deal to obtain a majority stake in Adbri, an Australian firm.
These acquisitions, along with seven other bolt-on acquisitions worth $0.1 billion, underscore CRH's aggressive growth strategy.
Furthermore, the company benefited from $0.7 billion in proceeds from divestitures, primarily from the initial phases of the Lime disposal.