stockrowWhat it does
CRH is a building materials company that supplies construction projects from roads and bridges to homes, water systems and data centers. It was founded in 1970, is headquartered in Dublin and is led by chief executive Jim Mintern.
Its basic materials include aggregates—crushed stone, sand and gravel extracted from mineral deposits—and cementitious materials used to bind concrete. CRH sells these materials directly and also uses them to make products such as concrete and asphalt. It supplies precast concrete structures, drainage systems, fencing, pavers and other building products.
The company also provides services. Its road businesses manufacture materials and carry out paving, installation and maintenance. Its building and infrastructure businesses supply products and engineering services for projects involving transportation, water, energy and telecommunications. Its outdoor living businesses serve construction and renovation projects in private and public spaces.
Customers include governments, contractors and other construction product and service providers. CRH operates across North America, Europe and Australia, serving infrastructure, residential and non-residential construction. Its businesses combine raw materials, manufactured products and services, so a project can draw on more than one part of the company’s portfolio.
In 2026, CRH completed its acquisition of Arcosa, adding aggregates and engineered structures businesses. CRH says the acquired engineered structures business supplies products for energy transmission infrastructure.
How it makes money
CRH earns revenue by selling construction materials and manufactured products and by providing paving, construction and engineering services. Its quarries supply raw materials that can be sold directly or used by other CRH businesses to make products such as asphalt and concrete.
Total revenue was $37.4 billion in 2025 and $11.4 billion in the third quarter of 2026.
The company reports through three segments. Americas Materials Solutions produces aggregates, cementitious materials, readymixed concrete and asphalt, and provides paving and construction services in North America. Americas Building Solutions supplies engineered products for infrastructure and outdoor spaces. International Solutions combines materials, products and services for construction and renovation across Europe and Australia.
CRH organizes its activities into Essential Materials, Road Solutions, Building and Infrastructure Solutions, and Outdoor Living Solutions. The materials businesses feed into the other businesses as well as selling to outside customers. For example, aggregates can be used to make asphalt for road paving, while concrete products can be delivered to construction sites for assembly.
Prices depend on factors including economic conditions, production capacity, product demand, differentiation and the number of competitors in a market. CRH’s profits are sensitive to changes in both volumes and prices. The company aims to win repeat business by supplying multiple products and services to customers.
Repair and maintenance provide work alongside new construction: in 2025, 40% of total revenue came from repair and remodel activity, while 60% came from new-build construction. Construction activity varies with the weather, with some markets busier in spring and summer and quieter in winter.
| Product or service | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| Product | $28.8 billion | 38.4% | 7.70% |
| Road Solutions | $17.1 billion | 22.8% | 4.78% |
| Essential Materials | $10.4 billion | 13.9% | 8.51% |
| Service | $8.7 billion | 11.6% | −2.03% |
| Outdoor Living Solutions | $5.1 billion | 6.83% | −0.37% |
| Building and Infrastructure Solutions | $4.9 billion | 6.50% | 6.59% |
Customers and how it sells
CRH sells to national, regional and local governments, contractors, and other construction product and service providers. Its materials and products reach projects directly and through its own downstream businesses, which use them in road, building and outdoor living products and services.
End uses span public highways and bridges, utility networks, manufacturing facilities, data centers, commercial buildings and homes. Road customers also use CRH products and services for airports, parking lots and residential roads. Outdoor living products serve residential and commercial construction, including repair and remodeling.
In 2025, infrastructure accounted for 40% of total revenue, residential construction for 32% and non-residential construction for 28%. No individual customer concentration is specified.
The United States generated $22.8 billion of revenue, or 61.0% of total revenue, in 2025. CRH also operates in Europe and Australia. Its Americas division had locations across U.S. states and Canadian provinces, while its international division had locations across countries in Europe and Australia.
CRH supplies its products to construction sites and provides services such as paving and installation. It also delivers precast infrastructure products, including pipes and manholes, for assembly at sites.
| Region | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| United States | $22.8 billion | 61.0% | 4.58% |
| Rest of Europe | $7.4 billion | 19.7% | 4.97% |
| United Kingdom | $3.8 billion | 10.1% | −5.68% |
| Rest of World | $3.5 billion | 9.27% | 27.7% |
Suppliers and costs
CRH owns or leases land containing its main raw materials and operates a network of extractive sites. It processes mineral deposits into aggregates and uses quarry materials to make products including cement, asphalt and concrete. Some output is sold externally; some supplies its own downstream businesses.
The company also buys cementitious materials, bitumen, steel and energy at market rates and uses external suppliers and service providers for inputs, equipment and transportation. It says it is not dependent on any single source for those materials and resources, except for gas and electricity in certain jurisdictions. No individual sole-source supplier is named.
Labor, energy, depreciation and amortization are among its costs. In 2025, labor costs rose 6%, depreciation and amortization rose 20%, and energy costs rose 8%. CRH attributed the increases partly to acquisitions, as well as inflationary pressures and increased capital expenditure.
In the third quarter of 2026, CRH experienced cost inflation as higher oil prices affected energy, raw materials and haulage. It has added fuel surcharges and pushed pricing in response. Environmental compliance also requires capital investment and ongoing spending on activities such as permitting, monitoring and waste and water management.
- Revenue$37.4B
- Cost of revenue−$23.9B
- Selling, general and administrative−$8.3B
- Operating income$5.2B
Competitive position
CRH faces strong competition in construction markets that are often fragmented. Competitors can expand in existing markets, enter new ones or compete for acquisition targets. Pricing is affected by local competitive conditions, capacity utilization and differences between products. No competing company is named in the supplied business evidence.
CRH’s competitive resources include quarry reserves, local operating networks and a portfolio that connects materials production with manufactured products and services. Its Americas Materials business has long-term quarry reserves predominantly near urban areas, where demand for its materials is strongest. The company also supplies engineered products tailored to the requirements of individual projects.
Our reading: The reserve network and proximity to customers are meaningful local advantages because they place CRH’s raw materials near construction demand, though the evidence does not establish the strength of those advantages in every market. [item1]
Our reading: The connected portfolio can help CRH compete for work requiring several materials or services, but fragmented markets and sensitivity to prices limit the protection it provides. [item1]
CRH says it is the largest road paver in the United States. Its Winter Fill program has capacity to store about half of its yearly demand, which the company says supports supply and its ability to customize asphalt mixes.
Growth opportunities
CRH’s growth strategy includes expanding in construction markets, investing in its operations and acquiring businesses that can be connected to its existing portfolio. The company identifies transportation funding, upgrades to water and energy systems, reindustrialization, and the recurring need to maintain buildings and infrastructure as sources of demand.
CRH completed 38 acquisitions for total consideration of $4.1 billion in 2025. The largest was Eco Material, a North American supplier of supplementary cementitious materials used in concrete. CRH also invested $2.7 billion in growth and maintenance capital expenditure projects that year.
In 2026, CRH completed its $8.5 billion acquisition of Arcosa and invested a further $1.9 billion in 27 additional acquisitions year to date. CRH says Arcosa adds aggregates production and engineered structures for energy transmission. The company expects continued investment in transportation, water, energy and data infrastructure, while residential activity remains subdued in the near term.
CRH says approximately 40% of the IIJA’s funds had yet to be deployed as it looked ahead to 2027. It also sizes the North American data center project pipeline at more than $2 trillion and expects data center growth to increase demand for power and utility infrastructure.
The company has launched an operating initiative called Velocity to simplify its organization and use technology and data in core operations. CRH expects it to generate approximately $400 million in annual Adjusted EBITDA run-rate benefits by the end of 2028.
- $29.2BFY2021
- $32.7BFY2022
- $34.9BFY2023
- $35.6BFY2024
- $37.4BFY2025
Structural risks
- Construction demand and funding: Results depend on economic cycles and government funding initiatives. CRH expects residential activity to remain subdued in the near term, and a multi-year reauthorization of U.S. highway funding remains outstanding.
- Input costs and pricing: Energy, raw materials and haulage costs can rise, while profits are sensitive to volumes and prices. CRH says it can be difficult to recover cost inflation late in the year.
- Weather and seasonality: Construction activity can decline significantly in winter. Heavy rainfall, sustained high temperatures and other adverse conditions can disrupt demand, production and outdoor work.
- Permits and environmental obligations: Quarrying and other operations require permits and resource rights. CRH must also comply with emissions and water requirements and may have to reclaim mined properties or remediate hazardous releases.
- Debt and acquisitions: As of December 31, 2025, CRH had approximately $18.2 billion in gross indebtedness. Its acquisition strategy also requires it to integrate businesses into its operations.
- Climate and regulation: Acute weather events and longer-term changes in precipitation, sea levels or temperatures could affect operations. Changes to emissions, carbon allowance and tax rules may increase operating, compliance or litigation costs.
Bottom line
Our reading
CRH combines quarry-backed materials production with construction products and services, giving it several ways to participate in the same infrastructure and building projects. [item1] Its growth depends on construction activity, public funding and acquisitions, while energy costs, weather and competitive pricing can pressure results. [item1, item7, call_prepared] The Arcosa acquisition expands its aggregates and energy infrastructure businesses, but also adds another business to integrate. [call_prepared, call_qa]