CRH US S&P 500Russell 1000 Earnings call
CRH plc (CRH) · Q2 2026 results and valuation
Share price: $96.26 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 30 Jul 2026 and 30 Apr 2026
Net income turned to a profit from a loss last quarter. Management sounded cautious, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Turned profit
Net income vs Q1 2026
Outlook given
Net income 1.49B vs -176.0M
Revenue +46.2%
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: very upbeat, in line with the script.
Similar to last call.
3 · What stood out
Figure
CRH completed three strategic divestitures of noncore businesses for $1.9 billion year-to-date to focus on core operations.
Valuation
Is CRH plc undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 4.6% growth a year (3-year revenue growth), the model's fair value is $43.50 a share — the stock trades 121% above it. Today's price assumes 12.3% growth a year.
Current price
$96.26
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+12.3% for 10 yrs
Fair value / share
$43.50
Buy below
$32.63
Price vs fair value
Overvalued 121%
Price vs buy-below price
Overvalued 195%
Management expects
Growth +30% · from the Q2 2026 report: “CRH will allocate approximately 70% of capital to growth investments and return the remaining 30% to shareholders through dividends and share buybacks.”
A guidance figure for growth, usually one year ahead, not a 10-year free-cash-flow rate.
Read between the lines
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Key theme
The company will outline how it is strategically positioning its business to deliver further growth and value creation for shareholders through recent capital allocation activities.
Source quote
“Over the next 20 minutes or so, we will take you through a brief presentation of our results for the second... We will also outline how we are strategically positioning our business to deliver further growth and value creation for our shareholders.”
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Guidance
CRH reaffirmed its volume guidance for the upcoming period.
Source quote
“Yes, listen, I'll give a bit of background first, and then I might ask Randy just to jump in maybe on the building blocks, the kind of volume...”
-
Guidance
CRH will allocate approximately 70% of capital to growth investments and return the remaining 30% to shareholders through dividends and share buybacks.
Source quote
“We expect to allocate approximately 70% of this to growth investments with the remaining 30% returned to shareholders through dividends and share buybacks.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Cement volumes were 2% behind the prior year, reflecting some adverse weather conditions, which impacted activity levels in certain markets.”
“Just you kept your outlook unchanged despite still a volatile and uncertain kind of macro backdrop.”
“Adrian, it was a bit difficult to hear you, but I think it was around the margin performance and around the AMS in Q2 and H1.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 10.78B | 7.37B | +46.2% | 10.21B | +5.6% |
| Gross profit | 4.29B | 2.04B | +110.0% | 4.03B | +6.7% |
| Operating income | 2.08B | -38.0M | Turned profit | 1.94B | +7.4% |
| Net income | 1.49B | -176.0M | Turned profit | 1.32B | +12.7% |
| EPS | 2.21 | -0.27 | Turned profit | 1.94 | +13.9% |
| P/E today 14.6 | 18.9 | 19.5 | −0.6 | 19.2 | −0.3 |
Topics
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Latest announcements
Official filings, newest first.
- Results of operations · SEC 8-K
- Other events · SEC 8-K
- Material agreement; Regulation FD disclosure; Other events · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Shareholder vote results · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Shareholder vote results · SEC 8-K
- 1.04 · SEC 8-K