Trimming CRH Fair Value After Weather Leads to Slow 2018 Start Despite Healthy Economic Backdrop
Continued strength in CRH’s Americas operations and ongoing economic improvement in its European footprint didn’t translate into sales growth during the first quarter, as weather and the timing of holidays weighed on results. Like-for-like sales in Europe were down 2% from the prior-year quarter, driven mostly by a 3% decline in the Europe heavyside business. Similarly, like-for-like sales in CRH’s Americas operations were down 3% from 2017, as winter weather hampered deliveries.Based on the ye...
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