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CRH Predicts Expansion Following Exceeding 2023 Profit Goal

Image Source: Piotr Swat / Shutterstock

CRH, the largest manufacturer of construction materials in the United States and Europe, has experienced strong growth, surpassing its profit targets for 2023 and offering an optimistic outlook for 2024.

The company, headquartered in Dublin and earning approximately 75% of its profits in the United States, foresees a core profit increase of 6% to 10% for 2024, following a significant 15% growth in 2023 that exceeded its initial estimates.

CRH predicts that its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the full year of 2024 will fall within the range of $6.55 billion to $6.85 billion, in comparison to the $6.2 billion adjusted EBITDA it achieved in 2023.
The company’s shift to the U.S. GAAP reporting standard and its listing on the New York Stock Exchange in September highlight its ongoing international growth and market expansion strategy.

CRH expects a positive market environment in 2024, driven by significant infrastructure investments and an increase in the relocation of manufacturing activities to its primary markets in North America and Europe.

With its strong performance in 2023 and optimistic projections for 2024, CRH is well-positioned for continued growth and success in the competitive construction materials sector.

Image Source: Piotr Swat / Shutterstock

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