CRH's Solid 1Q Results a Good Start to 2019, but Shares Look Fairly Valued
CRH's companywide sales rose 7% year over year in the first quarter, benefiting from higher volume from milder weather as well as pricing increases. The first quarter is typically subject to seasonal weakness, but the strong start across all three segments bodes well for the full year, barring adverse weather. CRH guided to first-half group EBITDA above EUR 1.5 billion and second-half EBITDA ahead of last year’s EUR 2.2 billion. We forecast roughly EUR 3.8 billion in 2019, so the company's guida...
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