Strong Q4 FY23 Numbers and Guidance Pushed CRH plc (CRH) in Q1

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CRH plc (CRH), a building materials manufacturer and distributor, saw a strong rally in its stock after delivering strong Q4 FY23 numbers and providing FY24 guidance that was 5% ahead of consensus expectations. The company is expected to benefit from the exceptional growth in U.S. infrastructure spending, with the Infrastructure Investment and Jobs Act, Inflation Reduction Act, and the Chips and Science Act adding roughly $2 trillion in investment to aging U.S. infrastructure. CRH plc has a market capitalization of $54.899 billion and was held by 65 hedge fund portfolios at the end of Q4. The portfolio of L1 Long Short Fund, an investment management firm, returned 7.4% in Q1 2024 compared to 5.3% for the S&P/ASX 200 AI index.

#CrhPlc #BuildingMaterials #Q1Performance #Guidance #UsInfrastructureSpending

https://finance.yahoo.com/news/strong-q4-fy23-numbers-guidance-140946146.html