CRH cuts 2026 outlook, misses third-quarter estimates and authorizes $6 billion buyback

The company also declared a quarterly dividend of $0.39 a share, up 5 per cent from a year earlier.

CRH reported third-quarter earnings of $2.09 a share before an impairment charge, a write-down in the value of assets. That was $0.13 below expectations. Revenue came in at $11.40 billion, against $11.63 billion expected. Chief Executive Jim Mintern said the quarter was resilient, reflecting disciplined commercial execution and performance improvement initiatives.

CRH cut its full-year 2026 guidance, the company's own forecast. It now expects net income of $3.1 billion to $3.3 billion, down from $3.9 billion to $4.1 billion. The net income forecast falls by $800 million at both ends of the range. Diluted earnings per share are now expected at $4.63 to $4.85, down from $5.60 to $6.05. Adjusted EBITDA, a measure of operating profit before interest, tax, depreciation and amortization, is now expected at $7.8 billion to $8.0 billion. CRH said the changes reflect the earlier-than-anticipated close of its Arcosa acquisition, cost inflation and weaker residential activity.

The board authorized a share buyback of up to $6 billion, running to the end of 2030. CRH also declared a quarterly dividend of $0.39 a share, 5 per cent above a year earlier. It is payable on December 9, 2026, to shareholders of record on November 13, 2026.

CRH also launched Velocity, a two-year program to transform how the business operates. The company expects it to deliver about $400 million in annual run-rate benefits, the yearly saving once the changes are in place, by the end of 2028. The total non-routine cost is about $400 million.

Taken together, the buyback and dividend increase suggest management is leaning on capital return rather than a near-term operating recovery to answer the lower outlook. Velocity's savings arrive only by 2028, so any lasting gain in profit margins falls well outside the current guidance period.