CRH raises FY24 EPS view to $5.40-$5.60 from $5.15-$5.45, consensus $5.43

Raises FY24 adjusted EBITDA view to $6.82B-$7.02B from $6.55B-$6.85B. Backs FY24 capital expenditure view $2.2B-$2.4B. The company said, “We are pleased to announce that we are raising our previous guidance for 2024, reflecting the strength of our financial performance, the positive underlying momentum in our business as well as the positive contribution from recent portfolio activity. Our operations in North America are expected to benefit from significant infrastructure activity and increased investment in key non-residential segments, while in Europe, we expect good underlying demand in infrastructure and key non-residential markets, further supported by disciplined cost control. Residential construction, particularly new-build activity, is expected to remain subdued across our markets in the near term. Assuming normal seasonal weather patterns and no major dislocations in the macroeconomic environment, CRH remains well positioned to deliver another record year in 2024.”