$CRH · CRH PUBLIC LTD CO
CRH reported Q3 2026 revenue of $11.4B (+3% YoY) but net income attributable to CRH fell to $1.245B from $1.503B. Diluted EPS dropped to $1.86 from $2.21. A $178M impairment charge and higher tax rate (28.7% vs 22.3%) drove the earnings decline. Nine-month net income attributable to CRH fell to $2.555B from $2.728B.
- Q3 diluted EPS $1.86 vs $2.21 YoY, a 15.8% decline.
- Loss on impairments surged to $178M in Q3 2026 from $40M in Q3 2025.
- Q3 operating income fell 8.9% to $1.896B from $2.081B.
- Nine-month net income attributable to CRH dropped to $2.555B from $2.728B.
- Effective tax rate jumped to 28.7% in Q3 2026 vs 22.3% in Q3 2025.
Extended-hours trading shows CRH at $82.40, down -4.78% from the regular close of $86.54, indicating a sharp negative reaction to the earnings miss and impairment charge. Regular session had closed before the filing.
A $57B building-materials giant posting a 16% EPS drop with a 4.5x surge in impairment charges raises red flags about acquisition integration and asset quality at a time when infrastructure spending tailwinds should be lifting results.
CRH's margin compression and impairment charges contrast with resilient infrastructure demand narratives. The 3% organic revenue growth suggests pricing power remains but is being eroded by cost pressures and impairment write-downs.
$178M impairment charge in Q3 ($226M nine-month) signals potential overpayment or deteriorating asset values in recent acquisitions. The Arcosa acquisition integration risk is explicitly flagged, along with Velocity program disruption risk.