CRH PLC

NYSE:CRHUnited States

Ratings actions from Benzinga: https://www.benzinga.com/quote/CRH/analyst-ratings

(END) Dow Jones Newswires

April 15, 2024 06:02 ET (10:02 GMT)

Solutions (35) 935 1,284 875 3,059 Americas Building Solutions 301 474 391 276 1,442 Europe Materials Solutions 68 515 446 366 1,395 Europe Building Solutions 52 90 69 69 280 --------- -------- ---------- ----------- --------------- Total Adjusted EBITDA* 386 2,014 2,190 1,586 6,176 --------- -------- ---------- ----------- --------------- Depreciation, depletion and amortization Americas Materials Solutions 186 195 195 205 781 Americas Building Solutions 75 73 73 78 299 Europe Materials Solutions 101 111 112 140 464 Europe Building Solutions 22 22 22 23 89 --------- -------- ---------- ----------- --------------- Total depreciation, depletion and amortization 384 401 402 446 1,633 --------- -------- ---------- ----------- --------------- For the year For the three months ended ended -------------------------------------------- --------------- Non-GAAP reconciliation March 31, June 30, September December December 31, (unaudited) 2023 2023 30, 2023 31, 2023 2023 --------- -------- ---------- ----------- --------------- Net (loss) income (31) 1,212 1,318 573 3,072 Loss (income) from equity method investments 6 (13) (14) 38 17 Income tax (benefit) expense (14) 379 416 144 925 Pension income excluding current service cost component (i) -- (2) (1) -- (3) Other interest, net (i) -- -- -- 5 5 Interest expense 81 73 131 91 376 Interest income (40) (36) (62) (68) (206) Depreciation, depletion and amortization 384 401 402 446 1,633 Loss on impairments (ii) -- -- -- 357 357 --------- -------- ---------- ----------- --------------- Adjusted EBITDA* 386 2,014 2,190 1,586 6,176 --------- -------- ---------- ----------- --------------- (i) Pension income excluding current service cost component and other interest, net have been included in Other nonoperating income (expense), net in the Consolidated Statements of Income. (ii) For the year ended December 31, 2023, the total loss on impairments comprised of $62 million within Americas Materials Solutions and $295 million within Europe Materials Solutions. *Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, loss on impairments, gain/loss on divestitures, income/loss from equity method investments, substantial acquisition-related costs and pension expense/income excluding current service cost component. It is quoted by management in conjunction with other GAAP and non-GAAP financial measures to aid investors in their analysis of the performance of the Company. Adjusted EBITDA by segment is monitored by management in order to allocate resources between segments and to assess performance. Reconciliation to its nearest GAAP measure is presented above. Earnings Per Share (EPS) (In $ millions, except share and per share data) Audited, for Unaudited, for the three months ended the year ended -------------------------------------------- --------------- March 31, June 30, September December December 31, 2023 2023 30, 2023 31, 2023 2023 --------- -------- ---------- ----------- --------------- Numerator Net (loss) income (31) 1,212 1,318 573 3,072 Net (income) attributable to redeemable noncontrolling interests (2) (10) (9) (7) (28) Net loss (income) attributable to noncontrolling interests 5 (3) (3) 135 134 Adjustment of redeemable noncontrolling interests to redemption value (10) (2) (6) (6) (24) --------- -------- ---------- ----------- --------------- Net (loss) income attributable to CRH plc for EPS - basic and diluted (38) 1,197 1,300 695 3,154 --------- -------- ---------- ----------- --------------- Denominator Weighted average common shares outstanding -- Basic (i) 742.9 734.7 718.2 700.5 723.9 Effect of dilutive employee share awards (ii) - 3.5 3.9 4.8 5.3 --------- -------- ---------- ----------- --------------- Weighted average common shares outstanding -- Diluted 742.9 738.2 722.1 705.3 729.2 --------- -------- ---------- ----------- --------------- (Loss) earnings per share attributable to CRH plc Basic ($0.05) $1.63 $1.81 $0.99 $4.36 Diluted ($0.05) $1.62 $1.80 $0.99 $4.33 --------- -------- ---------- ----------- --------------- (i) The weighted average number of common shares included in the computation of basic and diluted earnings per share has been adjusted to exclude shares repurchased and held by the Company as Treasury Stock given that these shares do not rank for dividend. (ii) Common shares that would only be issued contingent on certain conditions totaling 6,928,751, 5,700,540, 5,336,581 and 4,677,404 at March 31, June 30, September 30 and December 31, 2023, respectively, are excluded from the computation of diluted earnings per share where the conditions governing exercisability have not been satisfied as of the end of the reporting period or they are antidilutive for the periods presented. In periods of loss, shares that otherwise would have been included in our diluted weighted average common shares outstanding computation have been excluded.