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CRH PLC (CRH+2.42%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenues to $10.5 billion from $10.1 billion in the same quarter the previous year. The increase is attributed to continued pricing progress and contributions from acquisitions.
Gross profit for the quarter was $4.1 billion, compared to $3.8 billion in the previous year, reflecting a gross profit margin increase to 38.6% from 37.2%.
Selling, general, and administrative expenses increased to $2.2 billion from $2.0 billion, primarily due to labor cost increases and higher headcount from acquisitions.
Net income for the quarter was $1.4 billion, up from $1.3 billion in the previous year. Basic earnings per share were $1.99 compared to $1.81 in the previous year.
Cash provided by operating activities was $2.3 billion for the nine months ended September 30, 2024, a decrease from $2.6 billion in the same period of 2023.
Net cash used in investing activities was $4.4 billion, primarily due to acquisitions totaling $3.9 billion and capital expenditures of $1.6 billion.
Net cash used in financing activities was $1.1 billion, with proceeds from debt issuances of $3.5 billion and dividends paid of $1.5 billion.
CRH completed 28 acquisitions for a total consideration of $3.9 billion during the nine months ended September 30, 2024, compared to $0.6 billion in the same period of the previous year.
The company announced a further tranche of its share buyback program, extending it by an additional $0.3 billion to be completed by February 26, 2025.
CRH's debt ratings remain stable, with S&P rating at BBB+, Moody's at Baa1, and Fitch at BBB+.
The company continues to focus on its strategic growth through acquisitions and value creation, with significant public investment in infrastructure expected to drive future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CRH PLC quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.