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CRH: US Shareholders Now Own Majority, $40B Investments Planned
Description
CRH, the Irish building materials giant, now has US shareholders owning nearly two-thirds of its stock after shifting its main listing to New York and joining the S&P 500. North America contributes significantly to its earnings, driving 71% of its adjusted EBITDA and 75% of net profits. CRH delisted from London and dropped its Irish listing. First quarter numbers showed a 9% increase in revenues and an 18% jump in EBITDA, beating analyst forecasts. The company sold off three non-core units for $1.9 billion and signed a $700 million deal for a US water treatment business. CRH plans $40 billion in investments and shareholder returns over five years, focusing on aggregates, cement alternatives, roads, and water. Europes defense infrastructure spending also boosts CRHs growth pipeline.
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