DUBLIN – On Thursday, CRH (NYSE: CRH) raised its full-year guidance after the largest building materials producer in the United States and Europe reported a 12% rise in second-quarter core profit.
The Dublin-based group expects full-year adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of between $6.82 billion and $7.02 billion, up from the $6.55 billion to $6.85 billion it forecast in February.
CRH (NYSE: CRH), which makes about 75% of its profit in the U.S., boosted its profit margin by 270 basis points to 23.4% in the second quarter, helping it to increase its adjusted earnings by 12% despite a 1% fall in revenue.
It expects to benefit from non-residential investment and significant infrastructure activity in North America throughout the rest of the year, and good underlying demand for both categories in Europe.
(Source: ReutersReuters)
