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CRH
FY2025 Q4
Improving
CRH plc earnings call
Buzzberg read
CRH expects 2026 adjusted EBITDA of $8.1-8.5 billion
CRH reported a record FY2025 with 11% EBITDA growth and its 12th consecutive year of margin expansion. Management provided a positive outlook for FY2026, driven by strong infrastructure megatrends, and expects continued growth. FY2025 revenue grew 5% to $37.4B, with adjusted EBITDA up 11% to $7.7B.
Buzzberg read CRH expects 2026 adjusted EBITDA of $8.1-8.5 billion CRH reported a record FY2025 with 11% EBITDA growth and its 12th consecutive year of margin expansion. Management provided a positive outlook for FY2026, driven by strong infrastructure megatrends, and expects continued growth. FY2025 revenue grew 5% to $37.4B, with adjusted EBITDA up 11% to $7.7B. Read full analysisCollapse analysis
CRH reported a record FY2025 with 11% EBITDA growth and its 12th consecutive year of margin expansion. Management provided a positive outlook for FY2026, driven by strong infrastructure megatrends, and expects continued growth. FY2025 revenue grew 5% to $37.4B, with adjusted EBITDA up 11% to $7.7B.
- FY2026 guidance: adjusted EBITDA $8.1-$8.5B and diluted EPS $5.60-$6.05.
- Record transportation infrastructure funding and robust data center demand are key tailwinds.
- Acquisition pipeline remains strong, with $4.1B deployed across 38 deals in 2025.
Revenue$28.7352BReported
EPS$1.52Reported
Gross margin35.12%Reported
Operating margin12.83%Reported
6 grounded callouts
What matters now
The highest-signal changes from the call.
Demand
50% of IIJA highway funds still to be deployed
Demand
2026 to be record year for transportation infrastructure investment
Show 3 more callouts
Macro
Positive early signals on new multi-year highway bill
AI
Data centers driving re-industrialization demand
M&A
EcoMaterial integration progressing faster than expected
Reported period
Actuals
| Metric | Reported | Change |
|---|---|---|
| Revenue | $28.7352B | Reported |
| EPS | $1.52 | Reported |
| Gross margin | 35.12% | Reported |
| Operating margin | 12.83% | Reported |
| Free cash flow | $2.094B | Reported |
| Capex | $0.821B | Reported |
Forward-looking
Forward guidance
| Metric | Period | Range | Midpoint | Status |
|---|---|---|---|---|
| EPS | FY2026 | $5.60–$6.05 | $5.82 | Guided |
AI, capex & demand read
Management read
Confident
Management exuded confidence throughout the call, citing record performance, strong forward guidance, robust demand across key megatrends, and a positive outlook on M&A and infrastructure funding.
Management AI read
Management discussed AI as fueling rapid expansion of data centers, which is a key demand driver for CRH's construction materials and water/energy/communications infrastructure products. They noted that 85% of all US data centers are within 25 miles of a CRH location, and they are involved in over 100 data center projects across the US, positioning the company to capture a higher share of wallet o
Investment and capacity
CRH invested $1.7 billion in growth capital expenditure in 2025, targeting high-return, low-risk projects to expand capacity in high growth markets, improve operational efficiency, and optimize energy usage. These investments are part of a deliberate step-up in growth capex to support the company's medium-term targets, which include approximately $40 billion of financial capacity over the next fiv
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Companiesreturns since call
Supply chain
Supply chain
Jim Mintern
2026 is expected to be a record year for transportation infrastructure investment, with $75 billion set aside for highways alone in 2026 and state DOT budgets up 6%. — Strong federal and state funding signals robust demand for aggregates and construction materials across the US, benefiting CRH and its peers.
Evidence
“federal highway funding for this year is at all-time record levels. And you've probably seen the very recently approved appropriation bills have set aside $75 billion for highways alone in 2026”
Supply chain
Jim Mintern
CRH is involved in over 100 data center projects across the US, and a CRH facility is within 25 miles of 85% of all US data centers, indicating a broad-based data center construction boom. — The scale of data center construction highlighted by CRH indicates sustained demand for electrical and cooling infrastructure, benefiting companies like Vertiv.
Evidence
“we are active on over 100 data sites i think if you look at the in total across the us there's a crh facility within 85 of all data sites within 25 miles so we're busy on data sites”
External signals
Supply-chain alpha · 2returns since call
2026 is expected to be a record year for transportation infrastructure investment, with $75 billion set aside for highways alone in 2026 and state DOT budgets up 6%.
CRH is involved in over 100 data center projects across the US, and a CRH facility is within 25 miles of 85% of all US data centers, indicating a broad-based data center construction boom.
Methodology & coverage
Management-only analysis. All 4 validated company mentions are shown. Reported actuals and forward guidance are kept separate. Public evidence is limited to eight short attributed quotes. AI-generated analysis can be incomplete or wrong; verify important claims against the original source.