CRH's 2025 Q2 Earnings Call: Unpacking Key Contradictions in Infrastructure Demand, M&A Impact, and Market Dynamics

Infrastructure demand and funding, U.S. aggregates pricing and volume expectations, M&A contribution to 2025 EBITDA, impact of Eco Material deal on M&A strategy, infrastructure investment and market support are the key contradictions discussed in CRH's latest 2025Q2 earnings call.



Record Performance and Growth:
- CRH reported a record second quarter performance with $10.2 billion in total revenues, representing a 6% increase over the prior year. Adjusted EBITDA also increased by 9% to $2.5 billion.
- The growth was driven by favorable underlying demand, positive pricing momentum across the business, and strong contributions from acquisitions.

Acquisition and Investment Strategy:
- CRH invested approximately $1.7 billion in 19 bolt-on acquisitions and growth capital expenditures across the business year-to-date.
- The company announced an agreement to acquire Eco Material Technologies for $2.1 billion, aiming to expand its cementitious growth strategy and unlock long-term value for shareholders.

Guidance and Market Outlook:
- CRH raised its financial guidance for 2025, expecting full-year adjusted EBITDA to be between $7.5 billion and $7.7 billion, representing a 10% growth at the midpoint.
- The company attributed this to robust demand in key end-use markets, strong backlogs, and positive momentum in pricing.

Operational Efficiency and Cost Management:
- CRH achieved a further 70 basis points of margin expansion, demonstrating a relentless focus on operational excellence and cost management across the business.
- This was supported by enhanced production planning, yield optimization, and logistical benefits from its connected portfolio.