CRH has been one of the most-watched building materials stories of the past few years. The group, historically a FTSE 100 constituent, has delivered record Earnings as it has reoriented towards the United States and away from Europe. Following the cancellation of its London listing in April 2026, CRH is now solely listed on the New York Stock Exchange. UK investors who once held it via UK platforms are now reassessing its place in their portfolios, and may want to understand both the strong FY2025 results and the recent listing change.

Key takeaways

  • CRH Delisted from the London Stock Exchange on 20 April 2026, leaving its ordinary shares solely listed on the NYSE, according to the company's RNS announcements.
  • The group's primary listing moved to the NYSE in September 2023, with the LSE listing maintained as a secondary line until 2026.
  • FY2025 total revenues reached approximately $37.4 billion, 5% ahead of the prior year, according to the company's Q4 and FY2025 results.
  • Adjusted EBITDA grew around 11% to roughly $7.7 billion, marking a 12th consecutive year of Margin expansion.
  • Net Income of approximately $3.8 billion was reported as 8% ahead of the prior year.
  • CRH declared a quarterly Dividend of $0.39 per share, up 5%, and commenced a $0.3 billion quarterly share buyback programme.

Why investors are watching this FTSE 100 stock

Although the user has CRH listed alongside other FTSE 100 names, it is important to be accurate about its current status. According to CRH and London Stock Exchange announcements, CRH is no longer a FTSE 100 constituent at 15 May 2026. Its primary listing has been the NYSE since September 2023, and the company confirmed cancellation of its London listing with effect from 8:00 a.m. on 20 April 2026.

That said, UK investors are still watching CRH closely. Many UK platforms have informed clients about the listing change and the implications for tax wrappers, dividend handling and trading hours. The fundamental Investment case — exposure to US infrastructure, residential construction recovery and disciplined M&A — has remained intact through the move.

CRH is the largest building materials Business in North America and a major operator in Europe, supplying cement, aggregates, asphalt, ready-mixed concrete and a range of paving, building products and outdoor living solutions. According to industry commentary, the group is positioned to benefit from the US infrastructure investment cycle, including ongoing federal infrastructure spending.

Recent share price performance

From dual listing to NYSE only

CRH's primary listing has been on the NYSE since September 2023 under the ticker CRH. The dual UK listing that allowed FTSE 100 inclusion was wound down and, according to the company, the last day of trading of ordinary shares on the LSE was 17 April 2026, with cancellation effective from 20 April 2026.

How the shares have moved

Since moving its primary listing to the NYSE, CRH has traded principally in US dollars. Investors are watching how the shares perform in dollars and how that translates back into sterling for UK holders, taking into account the GBP/USD Exchange Rate. CRH's Investor relations website maintains a dedicated section for ordinary shareholders affected by the LSE listing change.

What is driving sentiment

Sentiment in 2026 has been supported by strong FY2025 results, ongoing margin expansion and a US-centric narrative that positions CRH as a beneficiary of US construction activity. According to the company, FY2025 marked a 12th consecutive year of margin expansion, with disciplined commercial execution and selective M&A both contributing.

Business performance and earnings

CRH reported its Q4 and FY2025 results in February 2026. According to the company, full year 2025 total revenues were approximately $37.4 billion, 5% ahead of the prior year. Growth was driven by favourable end-market Demand, disciplined pricing, and contributions from acquisitions completed during the year.

Adjusted EBITDA increased by around 11% to roughly $7.7 billion. The company highlighted that 2025 was a 12th consecutive year of margin expansion, reflecting continued pricing momentum, contributions from acquisitions and disciplined cost control. Net income of approximately $3.8 billion was reported as 8% ahead of the prior year.

The earnings power of the group is underpinned by its scale in aggregates, cement and asphalt, especially in the United States, where CRH operates a large network of integrated quarries and Downstream Assets. Investors are watching whether the US infrastructure and reshoring tailwinds remain in place through 2026, supporting volumes and pricing.

Dividends and Shareholder returns

CRH switched to quarterly dividends in US dollars following its primary listing move to the NYSE. According to the company, CRH declared a quarterly dividend of $0.39 per share, representing a 5% increase on the prior year, with payment on 8 April 2026 to shareholders registered on 6 March 2026.

CRH also commenced a new quarterly share buyback programme of $0.3 billion. According to the company, this is part of a broader Capital returns framework that combines a progressive dividend with ongoing Buybacks. UK investors should note that, with the LSE listing now cancelled, dividend handling may differ from a typical UK share, and certain UK platforms apply specific arrangements for US-listed dividends.

Investors are watching how the group balances reinvestment, M&A and capital returns. CRH has historically used acquisitions to extend its footprint, particularly in the US, and that strategic appetite has continued through 2025 and early 2026 alongside the buyback.

Valuation and market position

CRH's valuation has re-rated since the move to NYSE primary listing in 2023. Industry commentary has highlighted that exposure to US construction stocks tends to attract higher trading multiples in the US than in the UK, and CRH's transition has been one of the case studies cited.

In terms of market position, CRH is the largest building materials business in North America, with a number-one or number-two position in many of its US markets. It also has substantial operations in Europe, supplying infrastructure, residential and commercial construction. According to the company, around three quarters of group EBITDA is now generated in the Americas.

Investors are watching whether CRH can continue to grow margins from already record levels. Pricing discipline, cost control and value-add product mix have all been highlighted by management as ongoing levers, and the buyback could continue to support per-share metrics.

Sector trends shaping CRH

Several trends are shaping the outlook for CRH. The first is the ongoing rollout of US federal infrastructure spending under existing legislation, which has supported demand for aggregates, asphalt and ready-mix concrete. Investors are watching the pace at which this funding translates into projects on the ground.

The second is US residential construction. According to industry data, housing starts have been sensitive to Mortgage rates, but the long-term need for additional housing in many US markets remains. CRH's exposure to residential is significant though balanced by its larger infrastructure and non-residential franchises.

Third, the cement industry is gradually shifting towards lower-carbon products. CRH has invested in blended cements, alternative fuels and carbon capture pilots. The pace at which low-carbon products gain Market Share could matter for both pricing and Capital Expenditure.

Finally, M&A remains a key driver. Building materials is a highly fragmented industry, and CRH's track record of disciplined bolt-on acquisitions has been a long-running source of growth. According to the company, M&A in 2025 contributed to the Revenue and earnings growth reported in the results.

Risks to watch

CRH's main risks include cyclicality in construction activity, sensitivity to Commodity input costs, and execution risk on M&A. A downturn in US infrastructure or residential activity could weigh on volumes and pricing.

Foreign exchange is now particularly important for UK investors. With CRH solely listed on the NYSE and reporting in US dollars, sterling-based holders are exposed to GBP/USD movements on both share price and dividend translation.

Regulatory and ESG risks are also relevant. The cement industry is among the most carbon-intensive sectors, and policy and pricing of emissions could affect long-term Economics. According to the company, CRH has set out a roadmap for emissions reduction, but progress remains an area to monitor.

Finally, the LSE delisting creates practical risk for UK retail investors who held the shares through UK Brokers. Investors are watching how their providers handle the migration of holdings to the NYSE line, what charges apply, and whether tax wrappers such as ISAs continue to support the holding.