Earnings Recap — Q2 FY2026
CY Q3 2026 · Reported July 30, 2026 · Beat 2 of last 5 quarters
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CRH's results underscore the accelerating demand from AI infrastructure, with data center and reindustrialization projects becoming a significant growth driver. The company's connected portfolio—supplying aggregates, cement, ready-mix, and paving—positions it to capture a large share of the multiyear buildout, as evidenced by its activity on 200 data centers and proximity to 85% of announced sites. This reinforces the thesis that AI infrastructure is a major tailwind for building materials and construction services.
CRH delivered a record second quarter with revenues up 6% to $10.8 billion and adjusted EBITDA up 7% to over $2.6 billion, driven by strong Americas Materials performance (revenues +10%, EBITDA +12%) and International Solutions growth (+5% revenue, +8% EBITDA). Americas Building Solutions declined 2% in revenue and 8% in EBITDA due to divestitures, subdued new-build residential, and haulage cost inflation. The company completed 17 acquisitions ($1.4 billion) and 3 divestitures ($1.9 billion) year-to-date, and announced the $8.5 billion Arcosa acquisition to strengthen its aggregates leadership. Management highlighted strong demand from data centers and reindustrialization, with active work on 200 data centers across the U.S.
Management reaffirmed full-year 2026 guidance for adjusted EBITDA of $8.1–8.5 billion, net income of $3.9–4.1 billion, and diluted EPS of $5.60–6.05, citing strong infrastructure demand, a 40% unspent IIJA balance, and positive momentum in reindustrialization. They expect another year of margin expansion and noted pricing momentum with mid-single-digit aggregates pricing for the year. The Arcosa acquisition, expected to close in Q1 2027, is projected to deliver $175 million in run-rate cost synergies by year 3, with $60 million in the first year. The share buyback program is paused following the latest tranche, with capital allocation focused on growth investments and the $40 billion five-year capacity plan.
“We are pleased to report a record second quarter with further growth in revenues, adjusted EBITDA and margin compared to the prior year period, reflecting favorable underlying demand, disciplined commercial execution and contributions from acquisitions.”
on Q2 performance
“We're active right now on 200 data centers across the U.S. Now these are multiyear projects. For us, that kind of run from typically 2 to 3 years. And with 2,000 locations across the whole of the U.S. I think you called it out, we're within 25 miles of 85% of all the data centers that have been announced in the U.S. are within 25 miles of one of our CRH facilities.”
on Data center exposure
“We expect this year to be our 13th consecutive year of margin expansion. I think there's very few companies in any industry can deliver that kind of performance and consistency and predictability over time, right?”
on Margin trajectory
You kept your outlook unchanged despite a volatile macro backdrop. Can you give more color on the underlying assumptions for 2026 guidance?
Jim highlighted strong infrastructure demand (both U.S. and international), with 40% of IIJA still unspent, and a notable pickup in reindustrialization (data centers, advanced manufacturing, LNG). Randy noted backlog and bidding activity are up year-over-year, with aggregates volumes +2% and pricing +5% in Q2. Aylwyn added net incremental EBITDA contribution from M&A/divestitures of ~$200 million and negligible FX impact.
Could you talk about the drivers of margin weakness at Americas Building Solutions and the timing and levers for recovery?
Jim attributed the weakness to divestitures, subdued new-build residential, and cost inflation, particularly in haulage rates. He noted mitigation through price surcharges and cost reductions, with the impact expected to moderate in Q3 and Q4. He also highlighted growth in data center, water, and energy markets within Building & Infrastructure Solutions.
Can you give an update on the data center theme, including CRH's proximity to data centers and future growth exposure?
Jim reported a notable step-up in reindustrialization activity in 2026, with CRH active on 200 data centers across the U.S. He emphasized the connected portfolio advantage, being within 25 miles of 85% of announced data centers, and cited a recent East Texas project requiring 3 million tonnes of aggregates. He noted dedicated sales teams working directly with hyperscalers and the multiyear nature of these projects.