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Pandemic, weather factoring in to CRH performance

By |  November 24, 2020

Logo: CRH

CRH provided insights about its third quarter, noting that global sales through nine months of the year are down 3 percent while EBITDA (earnings before interest, tax, depreciation and amortization) is up 2 percent.

According to CRH, third-quarter trading in CRH’s Building Products Division was ahead, benefiting from strong residential repair, maintenance and improvement demand in North America. While activity began to recover at CRH Europe Materials in the third quarter, year-to-date sales remained behind 2019, the company says.

At CRH Americas Materials, unfavorable weather conditions and a strong prior-year comparative impacted the third-quarter sales performance, CRH adds.

“Markets continue to be impacted by the global pandemic, and while we have seen some lower activity levels, I am pleased to report further improvement in trading performance, with an advance in both profitability and margins,” says Albert Manifold, chief executive of CRH. “The outlook for the coming months remains uncertain and visibility is limited, however I am confident that we are well positioned for the challenges and opportunities that lie ahead.”

CRH Americas Materials

Photo: Cat loader at Staker Parsons. Photo: P&Q Staff

Aggregate volumes are down a bit on the year at CRH Americas Materials: P&Q Staff

Nine-month like-for-like sales for CRH Americas Materials operations were 4 percent behind the same period of 2019.

CRH Americas Materials’ North region was particularly impacted by pandemic restrictions earlier in the year, CRH says, while volumes in the South were impacted by delayed state lettings and unfavorable weather. This was partly offset by healthy market fundamentals and solid backlogs in CRH Americas Materials’ West region, along with pricing progress in most product lines, the company adds.

Still, third-quarter sales in the West were impacted by unfavorable weather and wildfires in August and September.

Like-for-like aggregate volumes for the first nine months of 2020 were 3 percent behind 2019 at CRH Americas Materials. Average year-to-date prices increased by 3 percent – with increases in all regions.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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