AMRZ

Image source: The Motley Fool. Friday, Aug. 7, 2026 at 8:30 a.m. ET Chairman and Chief Executive Officer - Jan Jenisch Investor Relations - Baris Oran Operator: Welcome to Amrize's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time. I will now turn the call over to Baris Oran. Baris Oran: Thank you, and good morning. Welcome to Amrize's Second Quarter 2026 Earnings Conference Call. We released our second quarter financial results yesterday after the market closed. You can find both our earnings release and presentation for today's call in the Investor Relations section of our website at investors.amrize.com. On the call with me today is Jan Jenisch, Chairman and CEO. Before we begin, during the call and in our slide presentation, we reference certain non-GAAP financial measures, which we believe provide useful information for investors. We include reconciliation of non-GAAP financial measures to U.S. GAAP in our earnings release and slide presentation. As a reminder, today's call is being webcast live and recorded. A transcript and recording of this conference call will be posted to our website. Any statements made about future results and performance, plans, expectations and objectives are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those presented during the call due to various factors, including, but not limited to, those discussed in our 2025 Form 10-K and in other reports filed with the SEC. The company undertakes no obligation to publicly update or revise any forward-looking statements. Please also note that in today's presentation, certain prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. Additional information regarding these revisions can be found in our Form 8-K filed with the SEC yesterday after the U.S. market close. With that, I will now turn the call over to Jan. Jan Jenisch: Thank you, Baris, and thank you all for joining us today. I will begin with our highlights and takeaways of the second quarter. We delivered strong revenue growth of 8.6%, driven by increased mega project demand from data centers and energy to advanced manufacturing plants and infrastructure modernization. With the strength of our network and strategic footprint in the most attractive markets, we were able to achieve industry-leading organic growth of 6.7%. We also grew net income by 14.4% and adjusted EBITDA by 5.8% with this strong customer demand as well as leading aggregates pricing and excellent progress in our ASPIRE program. Diluted earnings per share increased 14.7% and adjusted diluted earnings per share grew 8.6%. Oil price-driven cost inflation drove higher freight, diesel and raw materials costs, which we are proactively managing with pricing, fuel surcharges and ASPIRE. In our Building Materials business, we had a strong quarter with above-market volume growth, premium cement pricing and leading aggregates pricing growth. Our Building Envelope business achieved above-market sales momentum, driven by a strong pipeline of large-scale commercial projects and growth in residential roofing. Segment pricing improved sequentially as increases phased in throughout the quarter. We are also successfully executing on our capital allocation strategy of investing for growth through CapEx and M&A while returning cash to our shareholders. We invested $241 million in CapEx in the quarter as we expand production and improve efficiency to best serve customers. We had excellent contributions from PB Materials, our recently acquired aggregates business in West Texas. And in July, we acquired Rapid Redi-Mix, bringing significant synergies of our cement and aggregates network in Texas. In the second quarter, we also returned $502 million to shareholders through dividends and our share repurchase program. Our Board has also declared a second quarter dividend of $0.11 per share. Let's now look to our market environment. We have a strong order backlog led by commercial and infrastructure demand, and we are actively quoting new projects. In commercial construction, which makes up half of our business, the momentum with mega projects continues to drive demand for Building Materials. As we said last quarter, we are seeing the strong commercial new starts from Building Materials convert into new commercial roofing demand. The new AI-driven economy in North America not only needs data centers, but also energy, water and transport infrastructure. Many of these projects have a significant run time that drive consistent long-term demand for our solutions. The Dodge Construction Index shows there are more than 300 new data centers planned across North America, and our leading footprint and distribution network positions us to serve over 90% of these projects. Within infrastructure, demand continues to be strong across all levels of government and provides us with a steady multiyear running projects. The Infrastructure Act still has significant funding to be spent, and we are encouraged by its successor bill, which should extend the infrastructure tailwind. The Build America 250 Act includes strong funding for cement and aggregates intensive projects that are well aligned to our footprint. The overall policy environment supports locally made materials for infrastructure. America and Canada are prioritizing domestic materials and Amrize is positioned exceptionally well for this with our local-to-local model and Made in America and Product of Canada offerings. As I discussed last quarter, our strategy is not to import, but to invest domestically to expand production in local markets to serve local builders. Within the residential sector, new construction remained soft in the second quarter. However, within this environment, we were able to grow residential roofing market share and gain volumes. We expect that seasonal patterns will support stable roofing demand in the second half of the year and over the long term. The need for housing in the U.S. will drive significant growth opportunity. Overall, we see mega projects leading the way. Growth trends from infrastructure modernization and onshoring of manufacturing to data center expansion and the digital economy are taking shape on the ground. And these projects have significant size and scale for Amrize. Let me share some examples of these mega projects underway. Our Elevate roofing system, which is ideally suited to support data centers is being installed at a massive new data center in West Texas, an area where we are also well positioned with our aggregates network. In Illinois, we are delivering aggregates and cement for a new data center build, and we have projects underway in virtually every region of our footprint. Advanced manufacturing and onshoring is also driving growth. In Arizona, we are supplying Building Materials to a large-scale semiconductor manufacturing plant now under construction. In Louisiana, we are delivering materials to multiple LNG facilities as energy infrastructure builds up. Alongside these, we are supporting key transportation infrastructure projects across North America. In Canada, we are delivering to a massive multiyear modernization of Montreal's Airport. And in New York, we are providing high-performance materials for the Hudson River Tunnel. These are just some examples of our projects and new ones are kicking off every month. Mega projects require highest performing materials, manufacturing scale and the distribution network to deliver reliably. This is Amrize's strength and a key part of how we were able to achieve market-leading organic growth in the quarter. We are excited about the opportunities ahead to keep winning and delivering on new mega projects. Let's talk about our ASPIRE program. As we deliver for our customers, we are also driving synergies and operational excellence with our ASPIRE program. We delivered $29 million of savings in the second quarter. We have hundreds projects underway across raw materials, services, logistics and equipment and have now onboarded over 650 new suppliers, optimizing our third-party spend with competition and scale. We are on track with our savings for this year of $80 million as well as for our goal of $250 million through 2028. Let's talk about our growth investments. We invested $241 million in CapEx projects in the second quarter to expand production and to improve efficiency to best serve customers in the most attractive markets. We have completed a 660,000 ton capacity expansion at our flagship cement plant in Missouri, the largest market-leading plant in North America. With cement demand accelerating, this expansion comes online at the ideal time for us. We also broke ground on the modernization of our Saint-Constant cement plant in Quebec to expand production by 300,000 tons and improve efficiencies. In Texas, work is underway to add 100,000 tons of additional production capacity at our Midlothian cement plant in near Dallas. In Alberta, we are adding 50,000 tons of capacity to our Exshaw cement plant outside of Calgary, where we are seeing growth driven by energy projects and new data center demand. In addition to our cement network, we are expanding and developing greenfield aggregate quarries across our footprint, where we currently have 5 quarry projects in multiple attractive markets across North America, adding more than 150 million tons of reserves. In Building Envelope, we are making progress on our new Malarkey Shingles Plant in Indiana. This new plant will be state-of-the-art and will allow us to expand our footprint into highly attractive Midwest and Eastern markets. Looking to our M&A, we are executing on our strategy with a strong focus on synergies and growth markets. In July, we closed the acquisition of Rapid Redi-Mix, a fast-growing concrete producer in Dallas-Fort Worth. This acquisition is expected to be EPS value accretive this year. Rapid Redi-Mix has a network of modern batch plants and [ mixer fleets ] and brings significant synergies with our aggregates operations and cement network in the region, complementing the planned expansion of our Midlothian cement plant. Our acquisition of PB Materials, the aggregates leader in West Texas, is proving to be an excellent addition and is exceeding our initial expectations. These actions show how we coordinate our M&A and CapEx investments to connect our network and focus on high-growth markets such as Texas, where data centers, energy projects, infrastructure spending and population growth are driving demand. We are also delivering cash to our shareholders and returned $502 million to shareholders in the second quarter alone. We launched our $1 billion share repurchase program and repurchased $197 million worth of Amrize shares in the second quarter. Our dividend program is also running well. We paid $305 million of dividends, including the special dividend for 2025 and the first quarter dividend of $0.11 per share earlier this year. Adding to this, the Amrize Board of Directors has declared a dividend of $0.11 per share for the second quarter to be paid on August 26. Importantly, these dividends are paid out of capital contribution reserves and are not subject to Swiss withholding tax. I'm very pleased that our shareholder return program is executing well. We will continue delivering for our customers, investing for growth and returning cash to our shareholders. Now I'd like to turn it to Baris to review our quarterly financial results in more detail and discuss our full year guidance. Baris Oran: Thank you, Jan. As noted earlier, we delivered strong revenue growth of 8.6% in the quarter as we saw increased mega project demand, particularly from data centers and energy-related projects. At [ Amrize's ] level, 6.7% organic growth drove the majority of the top line performance in the quarter. Volume growth was above industry trends for cement, aggregates and roofing, driven by our unique position in high-growth markets and successful commercial initiatives during the quarter. In addition to volume, we began seeing the benefit of price increases flow through during the quarter across our business segments. We saw strong aggregates pricing growth broadly supported throughout our geographies. Our premium cement price in Q2 of more than $171 per short ton improved sequentially from Q1. Finally, PB Materials also contributed nicely to the results in the quarter, driven by solid demand in the high-growth West Texas region. Now review our adjusted EBITDA performance. In the second quarter, we grew adjusted EBITDA by 5.8% to $986 million. Volume growth was the key driver of our adjusted EBITDA performance in the quarter as well as strong cement and aggregates pricing within our Building Materials segment. The strength of our sales volumes and pricing was particularly offset by higher-than-expected freight, diesel and raw material costs. This relates to 2 factors. First, oil price-driven inflation has resulted in a persistently higher cost environment. Additionally, we have seen a significant spike in U.S. freight rates over the past few months as capacity tightened in transport industry. While we have increased prices and added fuel surcharges, there has been a timing difference between price realization and oil price-driven cost inflation across our businesses in Q2. As realization of previous price increases reached full run rate and additional price increases take effect, we would expect better net price realization in the second half. Overall, we expect the price over cost gap to improve in the second half and turn positive in Q4 with improving trends as we enter 2027. Meanwhile, our ASPIRE program continues to gain momentum as we entered a seasonally stronger quarter. $29 million of savings in Q2 partially offset the cost headwinds we experienced. Finally, our adjusted EBITDA performance in the quarter was impacted by $17 million of higher net insurance proceeds in the prior year. Turning now to our results by segment. For Building Materials, we saw another quarter of strong cement and aggregates volumes, driven by increasing activity across commercial end markets, particularly data centers and energy projects as well as steady infrastructure activity. Revenues were $2.4 billion in the quarter, an increase of 8.2%. This increase in revenues was driven by organic growth of 5.6%. We saw above-market volume growth across our key product lines, demonstrating our unique exposure to the most attractive regions and end markets. Contributions from the PB Materials acquisition and industry-leading aggregates pricing growth also nicely contributed to the revenue. During the quarter, cement volumes increased 5%, driven by healthy demand in our U.S. markets. We saw double-digit volume growth in our supplementary cementitious materials during the quarter as we continue to invest in these raw material alternatives and cement additives. Aggregates volumes grew by 6.5%, driven by continued demand for aggregate-intensive, commercial and infrastructure projects. It's worth noting that the volume growth for aggregates accelerated on a 2-year stack basis for the second quarter in a row. Cement pricing for Q2 was down 0.2% on a constant currency basis and grew 2.1% compared to Q1 as U.S. cement increases were put in place in April. Overall, we continue to see favorable pricing dynamics across our network, supported by our inland positions in high-growth and attractive markets. We had strong aggregates pricing growth of 4% on a freight-adjusted basis during the quarter. In April, aggregates price increases were successfully implemented, and we saw broad-based pricing growth throughout our geographies. Across both cement and aggregates, fuel surcharges were implemented in Q2 and partially offset the impact of oil price-driven cost inflation. Building Materials adjusted EBITDA was $793 million in the second quarter, up 5.2% compared to prior year. The increase in adjusted EBITDA was primarily due to continued volume growth, aggregate price increases, contributions from PB Materials and ASPIRE savings. Our adjusted EBITDA performance in the quarter was impacted by higher freight and diesel costs. We also had a tougher comparison as we lapped $17 million of higher insurance proceeds in Q2 of last year, which were primarily related to claims in 2024. As we look out to Q3, we expect to realize the full quarterly impact of price increases and fuel surcharges put in place during Q2 to continue expanding our margins. Additionally, our [indiscernible] operations will also put further price increase in the second half. We expect all these price increases to partially offset freight and diesel inflation in the back half of the year. As a result, we would expect better price over cost performance in second half compared to the first half. Meanwhile, given the momentum we have seen across our cement and aggregates volumes since Q3 of last year, we continue to expect strong volume growth for both businesses in this year. However, given a tougher comparison, we expect year-over-year volume growth to moderate in the second half relative to the first half. Turning to Building Envelope. Second quarter revenues were $1 billion, an increase of 9.4% compared to the prior year. The increase was largely driven by above-market volume growth. We saw strong commercial roofing volumes driven by increased system selling and large-scale projects, including data centers and warehousing. We also continue to see resilient demand for commercial reroofing activity. As we said last quarter, new commercial roofing demand typically lags broader commercial construction activity by 12 to 18 months. With strong new commercial construction in our Building Materials segment, we expect that to support an improvement in new commercial roofing demand as we move into second half, and we have begun seeing that trend in the early months of Q3. Turning to residential. We saw above-market shingles growth driven by investments in our commercial sales teams as well as distributor inventory stocking. It's worth noting that the second quarter was the highest revenue quarter for our residential roofing business in our company history. We expect seasonal trends to support stable reroofing activity in the back half of the year. And given the significant volume growth in Q2, we now expect our residential roofing volumes will be up high single digits this year. Strong commercial and residential volumes were partially offset by softer demand for weatherproofing products as they are more driven by new residential construction, which is down year-over-year. It's worth noting that these products represent about 10% of our Building Envelope business today. Building Envelope adjusted EBITDA was down 5.2%, representing a material improvement in a year-over-year trend compared to Q1. Year-over-year adjusted EBITDA performance was impacted by the timing differences between price realization and raw material costs. This was partially offset by stronger volumes. We put price increases in place during April, May and June, including several rounds for certain brands. We have also announced additional price increases that took effect in July and others will be effective in August. These price increases affect new projects we are quoting on with a natural timing difference until they take full effect across the business. Pricing improved sequentially throughout the quarter, but still remains down year-over-year. We expect better price realization in the back half of the year as price increases continue to be realized on new projects. As a result, we expect better price over cost performance compared to the first half of this year. We have a strong balance sheet and investment-grade credit rating. As of June 30, 2026, our leverage ratio was 1.7x. We had approximately $729 million of cash and cash equivalents with $4 billion of total available liquidity. This financial strength, coupled with our investment-grade balance sheet gives us significant liquidity to deploy capital for growth projects, acquisitions and return cash to shareholders. Our net interest expense is lower year-over-year, and we continue to expect our net interest expense to be roughly $340 million for the full year. Our track record of generating high free cash flow, coupled with a strong balance sheet, puts us in an excellent position to return cash to shareholders. Moving to our full year guidance. Let's review our key drivers. From a demand perspective, we are well positioned across our markets and in both business segments. Within Building Materials, we had a good first half of the year with strong revenue growth and 8.4% growth in adjusted EBITDA. For the full year, we continue to expect durable volume growth in cement and aggregates. We now expect cement pricing to be flat or up low single digits, and we continue to expect aggregates pricing to be up mid-single digits on a freight-adjusted basis. In Building Envelope, we improved revenue and operational performance as the first half of the year progressed. We continue to expect low single-digit growth in commercial roofing volumes and now expect high single-digit volume growth in residential roofing for the full year. As discussed earlier, price increases are phasing in across the Building Envelope portfolio. Finally, the ASPIRE program remains a key priority, and we are making excellent progress. We are on track with our targets and expect further savings in the second half despite a demanding procurement environment. Let's look at how these drivers will now play out in the second half of the year to reach our adjusted EBITDA range. The headline here is that while we expect stronger price momentum in the second half, the timing differences between price realization and oil price-driven cost inflation will be a headwind to our full year 2026 earnings. For the full year, we are expecting a positive contribution from strong volumes of $150 million to $170 million and on top from the price increases we are putting in place throughout the year, $60 million to $80 million in price. Due primarily to the rapid escalation and persistence of oil price-driven cost inflation, we are now expecting approximately $140 million to $170 million in higher cost. This shows up in high freight, diesel and raw material costs. In both businesses, while additional price increases and fuel surcharges are expected to be realized in the second half and improved pricing over cost compared to the first half, the timing of price realization and surcharges will affect our overall profitability for the year. We expect both business segments to have a better price over cost performance in the second half compared to the first half and turn price over cost positive in the fourth quarter with improving trends as we enter 2027. Our structural savings program, ASPIRE will contribute approximately $80 million of ASPIRE savings and M&A will be another $30 million to $50 million on top of that. Lastly, this year, we are also lapping 2 significant insurance recoveries in the second and fourth quarter of 2025 that create a net headwind of approximately $55 million. With all these factors combined, let's review our updated full year 2026 guidance. Given the strong demand and pricing environment, we are increasing our revenue guidance to $12.5 billion to $12.7 billion. As discussed, we are revising our adjusted EBITDA guidance to $3.1 billion to $3.2 billion. Overall, our business is in strong position. Cement and aggregates are in high demand. Our Building Envelope brands are improving performance as the year progresses. Pricing increases are building momentum. ASPIRE is kicking in, and we are strengthening operational efficiency. With that, we look forward to your questions, and I will pass the mic over to our operator. Operator: [Operator Instructions] Our first question will come from Anthony Pettinari with Citi. Anthony Pettinari: Your full year outlook indicates cement prices should rise in the second half. And I'm just wondering if you could talk a little bit more about the confidence driving that given the lack of traction in the first half. And just to clarify, are these sort of new hikes that are going out? Or are these sort of existing first half hike that is just being implemented more slowly? Jan Jenisch: Anthony, yes, I mean it was our target to have traction on the cement pricing this year. We had a slow start to the year, and you remember that we have our majority of price increases executing on April 1, and we see traction. While on Q2 year-over-year, we are slightly down, I think, 0.2%. We have a 2.1% increase in prices over Q1. So that makes me quite confident that we will see good and improved pricing in the second half of the year. We also noticed when you follow some of the other publications of peers that the 0.2% decrease in pricing in Q2 year-over-year is the best mark in the industry, mostly others reporting minus 1% to minus 3%. We are not happy with this. And now we have a sequential price increase 2.1%. And I believe we will -- we are guiding now for a flat to low single-digit pricing, but I'm confident we will have a low single-digit cement pricing in the second half of the year. Operator: Our next question will come from Adrian Huerta with JPMorgan. Adrian Huerta: And thank you for the additional color that you're bringing into the quarter that we did not have before. We really appreciate that. My question has to do with the -- how do you see the M&A outlook, Jan? Do you guys are working already on something? How do you see the pipeline over the next 6 to 12 months on M&A? That's my question. Jan Jenisch: Yes, Adrian, thanks for the question. We're always working on potential transactions. So happy also to see that there's quite some M&A activity in the sector. Our pipeline is healthy and growing across both Building Materials and Building Envelopes, and I expect more M&A to come. I think we bought 2 great companies. We have the PB Materials beginning of the year, fantastic market leader in West Texas, growing above expectations and already with a significant contribution to this year's results. And we just signed on the 31st of July, we closed the deal with Rapid Redi-Mix in Dallas-Fort Worth, complementing our network when it comes to cement and aggregates. So with our deals, as you know, we are very value accretive. So I'm very happy with these 2 deals and expect we are working on more deals to come. Operator: Our next question will come from Trey Grooms with Stephens. Trey Grooms: So my question is on Building Envelope. So the residential side of Building Envelope looks like it's holding in very well and performing very well. I wanted to first get your thoughts on kind of the volume there? Is it share wins or just the drivers there? And then you've talked about price realization in April, May and June. You've got additional increases, it sounds like that are coming in as well July and August. So you're going to have better price realization in the second half. But I guess the question there is, at what point do you think you'll get to kind of that price cost neutral position in Building Envelope. I know we were targeting, I think, 3Q. It sounds like it might be pushed out a little bit. Anyway, if you could just talk about those 2, both the demand side of things as well as price cost in Building Envelope. Jan Jenisch: Yes. Trey, thank you for the questions. Look, first of all, I'm very happy that we achieved more than 9% sales growth in the second quarter in Building Envelope. As you know, we had tough quarter 4, a tough quarter 1 with negative volumes. So I'm very happy that our people based on a lot of commercial initiatives went back to growth and even gained market share. That was important to us. Then second, we are working very hard to be price over cost positive. It's -- as you know, it's an uphill battle when you have those very steep oil-related inflation so suddenly. So we feel it in transportation heavily, but then also the raw materials for the input costs. So we have already a few price increases out there. We have more price increases to come and then plus the transportation surcharges. So we're working very hard. We saw a sequential improvement in our prices coming into effect from Q2 over Q1. And now with the further announced price increases in July and August, we expect a positive trajectory in price and cost to continue into H2. Operator: Your next question will come from Bryan Blair with Oppenheimer. Bryan Blair: I was hoping that we could level set a bit more on price cost assumptions, specifically versus your prior guidance framework. How much of the incremental headwind is driven by lower price realization versus higher cost? And how should we think about the impact by segment going forward? Jan Jenisch: Bryan, I think Baris made a very good analysis on the bridge here for margins, EBITDA. Maybe, Baris, do you want to take the question and give us some more details on the segments and overall Amrize? Baris Oran: Sure, Jan. Our guidance is entirely related to the duration and magnitude of oil-driven cost inflation and timing of the price realization. This impacts all segments. What gives us confidence is the strong volume momentum as well as the realization of price increases in Q2 so far. If you look at our guidance change, there are primarily 3 factors that are driving it. First, the impact from the lag between Building Envelope pricing and cost inflation of both raw materials and freight was more pronounced than we have initially expected. This represents roughly 1/3 of the guidance change. Second, in Building Materials, our cement pricing expectations for the full year were a little bit lower than previously expected. This represents another 1/3 of the guidance change. We had geographical mix impact in Q2 that resulted in a slight impact on a year-over-year basis, but we are confident that we have the best pricing out there. Third, finally, in Building Materials, fuel surcharges have been realized and helped offset the diesel impact, but have not fully offset the incremental impact from the higher freight rates. As you know, the freight has been going up quite robustly in the U.S., the freight costs. This represents the final 1/3 of the guidance change. While we expect strong price momentum in the second half and the timing differences between these price realizations and cost inflation will be the headwind to our 2026 earnings. Again, 1/3 coming from Building Envelope and 2/3 is coming from Building Materials. Operator: Our next question will come from Keith Hughes with Truist. Keith Hughes: Questions as a Building Envelope. Your guidance seems to imply kind of a flattish revenue number in the second half of the year. And with what sounds like some pretty good residential business coming in, that would imply there would be some pressure on volumes in the second half of the year. Am I reading that right? Would we expect volumes to be a little lighter, particularly after such a good second quarter? Jan Jenisch: Keith, actually, to be precise, in commercial, we expect some growth from our project pipeline and the backlog to continue. So the commercial project, which broke ground in 2025 will lead to an increase in roofing volumes for us in H2. So our full year guidance is low single digit overall from commercial roofing volumes, and that remains unchanged. In residential, we have quite some momentum at the moment. We expect also a normal seasonal pattern to support stable reroofing in the second half. And so we now expect volumes to be higher than originally to be up high single digit for the full year compared to flat volume forecast we gave earlier this year. Operator: Your next question will come from Martin Hüsler with ZKB. Martin Huesler: I hope you can hear me. So my question is about the volume trend, which I think is a bit better than what you expected at end of April. However, the margin trend is a bit more negative. I wonder if you also see a certain, let's say, mix deterioration as you might go for larger projects, which have a negative impact on margins, obviously, mainly for Building Materials. Jan Jenisch: Martin, first of all, we are very excited. I think especially the organic growth rate of 6.7% in the second quarter is, I would say, clearly above our expectations. And also the backlog we have and the active quoting we do for new projects is -- gives us great confidence for the future. We don't have a negative mix effect to make it short. If you look at our pricing, we have the stable cement pricing year-over-year. As I mentioned before, we have a sequential price increase, 2.1% in the second quarter over Q1. I think that's excellent. And then the same in aggregates, I think we have -- we are reporting a 4% aggregates price increase in the second quarter year-over-year. And here, we stick to our full year guidance of mid-single digits. So we have excellent pricing. I think, Martin, if you look at the bridges we provide, the -- let's say, that the EBITDA is not growing over proportional to the sales growth is really based on the oil-driven cost inflation. If we didn't have that geopolitical disturbance starting in March, we would have very healthy EBITDA margins for the second quarter. Operator: Our next question comes from Pujarini Ghosh with Bernstein. Pujarini Ghosh: So can you talk about the one-off insurance proceeds that you highlighted as a headwind this year. So are you saying that the 2025 EBITDA was artificially inflated? Or should we think about it as maybe some of your plants had an outage and these insurance proceeds were to offset that, which would imply that your volumes would have been lower last year than a normal year. And so in this year, we think of the bridge as the volume increase is higher than what we should have seen had last year been normal in terms of -- or not had any plant outages and then probably not have these insurance payouts as well. So is that the right way to think about it? And if I can just follow up on the previous question, what is your cement pricing expectations for the next 3 to 5 years? Jan Jenisch: Hi, Pujarini, let me take the second question, and I make the intro for the insurance and then Baris can take a bit more detail. So look, first of all, I'm quite pleased, first of all, with the cement volumes. Cement is in high demand. You see our strategy to further unlock and invest in our existing cement plants, most recently, the [ 660 million ] tons capacity expansion of our largest plant at the Mississippi. So that comes at the right time. You see the growth we are having. On the pricing side, I'm happy again that we are able now to get traction on pricing in cement. And I'm positive also for the years to come. I think, again, cement is a precious material for all those large and key projects we discuss about, and we are very confident that our unparalleled footprint of the 18 cement plants and especially our network with 141 cement terminals throughout the country will deliver superior margins going forward. Now on the insurance claims, it's just important to note that you have insurance payments, you have land sales. You have a couple of those things. They come every quarter, sometimes more, sometimes less. I think we felt obliged to just be fully transparent and give you a picture here. And maybe, Baris, do you want to give a bit more color on this one? Baris Oran: Sure. We have about $55 million proceeds that was in prior year. Of that, we highlighted $17 million in Q2. That was related to fully about an event that happened in 2024, but the collection was happening in Q2 of 2025. and we'll have another lumpiness in Q4. As Jan highlighted, land sales, insurance proceeds, they do happen in our industry. It is common and creates lumpiness throughout the quarters. As a new stand-alone public company, we will continue to refine our process and share appropriate details to help you in your modeling. Operator: [Operator Instructions] Our next question will come from Timna Tanners with Wells Fargo. Timna Tanners: I thought I would probe a little bit more about the M&A trends. So obviously, PB Materials was focused more on aggregates, Rapid Redi-Mix seems like a bit more downstream or departure from that. So just wondering, going forward, is this pace of M&A kind of a good cadence for you? And also, should we expect aggregates led still? Or are you thinking more broadly about your M&A strategy? Jan Jenisch: Timna, thanks for the question. Yes, of course, we are ready to do a lot of M&A. You see our balance sheet is strong. However, we are value focused on all those acquisitions. You mentioned we did a fantastic one in West Texas, not only aggregates led, but also in one of the best growing markets with a lot of synergies with our cement network and our other aggregates and Redi-Mix network. So I think this was very well done. Now the latest one, Redi-Mix. Redi-Mix is important for certain markets. So as the Dallas-Fort Worth market is one of our -- probably our most dense market in the entire U.S. And here, we believe to have some sort of network integration is key for us in the future. You hear that a lot of market observers talk about competition got a little bit intense in Texas or something. And this is something -- and not so much for us. We have very good results and very good growth in Texas also this year. And this is just another acquisition which makes sense to have synergies between our aggregates and cement network. So you don't have to expect us to become -- to necessarily make Redi-Mix acquisitions all over the country, but we will do so in specific markets where we have significant synergies. Operator: Our next question will come from Will Jones with Rothschild & Co Redburn. William Jones: Mine is just a general really around Building Materials. And if you could just comment on how significant the regional variations are on either pricing and volume as you look either within the U.S. or particularly with Canada in mind compared to the U.S. Jan Jenisch: Will, Well, that's -- the color we can give is that our pricing is really broad-based across all the regions. So we have specific markets, maybe a bit more growing, a bit more attractive. But overall, it's very, very broad-based throughout our footprint. We see strength in Canada and certain commercial categories like energy projects and also some data centers, especially in the rest of Canada. And throughout the U.S., we're really very happy with our footprint. As you see from our high organic growth number, we're really able to benefit with all those key projects where about 90% of them are without our reach. Operator: Our next question comes from Cedar Ekblom with Morgan Stanley. Cedar Ekblom: My question is around the guidance. I want to push you just a little bit. So in the first half of the year, you obviously had a very strong top line, but ultimately, those volumes came at a lower incremental margin. You effectively made less money on those volumes. And in the guidance, you're essentially implying that your 100 basis points of margin compression in the first half essentially swings to flat roughly year-over-year. You obviously did have the shutdown in roofing in the first quarter. So we know that, that was a drag. But you're also talking about a slightly more modest level of volume growth in the second half, which obviously implies operating leverage. You're also saying that the price cost stays negative in the third quarter. And so I really just struggle to see how we get a scenario where your margin goes from being down to being flat unless you're assuming more price increases from here? And so I suppose the question is, is how do we get more price increases if volume growth moderates a bit and if the inflationary backdrop, who knows what happens in the oil market. But if the inflationary backdrop maybe has peaked, I'm just really struggling to square how we go with margins being down a lot in the first half to margins getting to flat in the second half, particularly when we have that negative price cost still in place in the third quarter. So if you could help me with the math, I would be very grateful. Jan Jenisch: I see that. I could give you. I make an intro and then maybe, Baris, you want to talk a bit more detail how you calculate all this. But overall, Cedar, I think I'm very confident. I mean the best thing is that we have a very high customer demand. This is great to see. It's great to see we are winning a lot of these very large projects, not only data centers, but infrastructure, energy projects. That's really key to me. Then second, I'm very positive with the pricing we put in place now, 4% aggregates pricing, we guide to mid-single digits. So we believe there's more pricing to come for the second half. And also in cement, we turned positive in Q2. over Q1. So also here, we are positive. And then we have a little bit of a battle with the timing in Building Envelope, where obviously, we were hit by this very sudden oil price-driven inflation for transportation and for raw materials, which we will now cover with all those price increases and transportation surcharges. Additionally, we have our ASPIRE program. You have noticed that we had already $29 million of effective savings in Q2, and we are now guiding $80 million of total savings for the full year. So I think you will see that all those drivers will play together, and we're going to reach the guidance, which, as you mentioned, is requiring that we improve the margins in the second half of the year. Baris Oran: Going over the pricing mechanisms and realization. So far, our pricing, as Jan mentioned, has been executed really well. Half of our business in Building Envelope, if you talk about Building Envelope first, is quoted in advance. Our Building Materials also have a similar price quote mechanism, but less than 1/4 of its total size of the business. For example, our Building Envelope price increases may experience a 30-day to 90-day lag. And within Building Envelope, we have large-scale projects that we have previously quoted before the price increases were announced. We continue to work through those committed quotes and therefore, our price -- our product price increases are realized over time as customers put in new purchase orders on the new rates. Secondly, our fuel surcharges across Building Materials and Building Envelope are at least at a 30-day lag. And we expect the benefit of our pricing actions in Q2 to continue building into Q3 and additional pricing in July and August, especially in Building Envelope will benefit our Q3 and Q4. So that's the definition of our time lag in our pricing. On the cost side, what has been included in our raw material cost and oil price assumption, we assume that in Q3, these elevated levels of cost will continue, and there will be some moderation in Q4, and that's the base for our cost assumptions for the entire year. Operator: Our next question will come from Yassine Touahri with On Field Investment Research. Yassine Touahri: I think I primarily have a question on your cost inflation guidance. So if I look at your bridge in the second quarter, you had a $75 million negative impact from cost. But for the full year, you're expecting only, I think, between $140 million to $170 million. So it seems to imply that you will see a deceleration, a sharp deceleration in cost inflation in the second half versus the first half. And it's a little bit counterintuitive. Am I missing something? Jan Jenisch: Yes, thanks for the question. I think Baris was just touching on this, that he is expecting an easing of the cost inflation for the fourth quarter. Is that correct, Baris? Baris Oran: Yes, exactly. Jan Jenisch: So you want to explain that? Baris, go ahead, please? Baris Oran: We assumed -- I mean, in Q2, specifically, we have seen a very escalated cost levels, not only at the raw material and diesel, but also on the freight rates in the U.S. As you know, there's a lot of capacity being taken out of the freight market and freight rates are very high. We expect that conditions to continue in Q3 at the very high elevated levels and moderately improve in Q4, and that was the base case of our assumption set. Operator: Thank you. This concludes our Q&A session for today. I will turn the call back over to Jan Jenisch for closing remarks. Jan Jenisch: Thank you all for joining us today for the second quarter 2026 earnings call. I look very much forward to speaking with you soon, especially after reporting of the third quarter. Thank you. Operator: This concludes the Amrize Q2 2026 Earnings Conference Call. You may now disconnect. Before you buy stock in Amrize Ag, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amrize Ag wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $400,209!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,375,393!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 13, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Amrize (AMRZ) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Revenue: Increased 8.6% year-over-year in Q2 2026, driven by mega project demand. Full-year 2026 revenue guidance raised to $12.5 billion to $12.7 billion. Organic Growth: Achieved industry-leading organic growth of 6.7% in the quarter. Net Income: Grew 14.4% in the second quarter. Adjusted EBITDA: Increased 5.8% to $986 million in Q2. Full-year 2026 guidance revised to $3.1 billion to $3.2 billion. Diluted EPS: Increased 14.7%, while adjusted diluted EPS grew 8.6%. Building Materials Revenue: $2.4 billion in Q2, up 8.2%, with organic growth of 5.6%. Building Materials Adjusted EBITDA: $793 million in Q2, up 5.2% year-over-year. Cement Volumes: Increased 5% in Q2. Cement Pricing: Down 0.2% on a constant currency basis, but up 2.1% sequentially from Q1. Premium cement price was more than $171 per short ton. Aggregates Volumes: Grew 6.5% in Q2. Aggregates Pricing: Grew 4% on a freight-adjusted basis. Building Envelope Revenue: $1 billion in Q2, an increase of 9.4%. Building Envelope Adjusted EBITDA: Down 5.2% year-over-year, a material improvement compared to Q1. Residential Roofing: Q2 was the highest revenue quarter in company history; full-year volumes now expected to be up high single digits. ASPIRE Savings: Delivered $29 million in savings in Q2; on track for $80 million in 2026. Capital Expenditures: Invested $241 million in Q2. Shareholder Returns: Returned $502 million to shareholders in Q2, including $305 million in dividends and $197 million in share repurchases. Leverage Ratio: 1.7 times as of June 30, 2026. Cash and Liquidity: Approximately $729 million in cash and cash equivalents, with $4 billion of total available liquidity. Warning! GuruFocus has detected 3 Warning Signs with AMRZ. Is AMRZ fairly valued? Test your thesis with our free DCF calculator. Release Date: August 07, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Strong revenue growth of 8.6% and industry-leading organic growth of 6.7%, driven by mega project demand from data centers, energy, and infrastructure. Net income increased 14.4% and diluted EPS grew 14.7%, reflecting solid profitability. Successful execution of ASPIRE program, delivering $29 million in Q2 savings and on track for $80 million in 2026 and $250 million through 2028. Strategic M&A and capacity expansions, including PB Materials and Rapid Redi-Mix, are exceeding expectations and enhancing network synergies in high-growth Texas markets. Strong shareholder returns with $502 million returned in Q2, including dividends and share repurchases, and a healthy balance sheet with leverage at 1.7 times. Oil price-driven cost inflation led to higher freight, diesel, and raw material costs, creating a timing lag between price realization and cost increases, pressuring margins. Adjusted EBITDA growth of 5.8% lagged revenue growth due to cost headwinds and a $17 million unfavorable comparison from prior-year insurance proceeds. Cement pricing was down 0.2% year-over-year in Q2, with full-year expectations revised to flat or low single-digit growth, reflecting slower price traction. Building Envelope adjusted EBITDA declined 5.2% year-over-year, impacted by price-cost timing and softer demand for weatherproofing products tied to weak new residential construction. Full-year adjusted EBITDA guidance was revised down to $3.1-$3.2 billion, with expectations that price-over-cost will not turn positive until Q4, and cost inflation will remain elevated through Q3. Q: Your full-year outlook indicates cement prices should rise in the second half. Can you talk about the confidence driving that, given the lack of traction in the first half? Are these new hikes or existing hikes being implemented more slowly?A: Jan Jenisch (Chairman and CEO): We had a slow start to the year, but our majority of price increases executed on April 1. While Q2 year-over-year was slightly down 0.2%, we saw a 2.1% sequential increase over Q1. This is the best mark in the industry, as most peers are reporting minus 1 to minus 3. We are guiding to flat or low single-digit pricing, but I am confident we will achieve low single-digit cement pricing in the second half of the year. Q: How do you see the M&A outlook and pipeline over the next six to 12 months?A: Jan Jenisch (Chairman and CEO): We are always working on potential transactions, and our pipeline is healthy and growing across both Building Materials and Building Envelope. We expect more M&A to come. We acquired PB Materials, a fantastic market leader in West Texas, which is growing above expectations. We also closed the Rapid Redi-Mix deal in Dallas-Fort Worth, which complements our cement and aggregates network. We are very value-accretive and are working on more deals. Q: Can you level set on price-cost assumptions versus your prior guidance framework? How much of the incremental headwind is driven by lower price realization versus higher cost?A: Baris Oran (CFO): The guidance change is driven by three primary factors. First, the lag between Building Envelope pricing and cost inflation was more pronounced than expected, representing roughly a third of the change. Second, cement pricing expectations for the full year were slightly lower than previously expected, representing another third. Third, fuel surcharges have not fully offset the incremental impact from higher freight rates. While we expect strong price momentum in the second half, the timing differences will be a headwind to 2026 earnings. Q: In Building Envelope, your guidance seems to imply a flattish revenue number in the second half. Would we expect volumes to be lighter, particularly after such a good second quarter?A: Jan Jenisch (Chairman and CEO): In commercial, we expect growth from our project pipeline and backlog to continue. Commercial projects that broke ground in 2025 will lead to increased roofing volumes in H2. Our full-year guidance for commercial roofing volumes remains unchanged at low single digits. In residential, we have momentum and expect normal seasonal patterns to support stable reroofing. We now expect residential volumes to be up high single digits for the full year, compared to the flat volume forecast given earlier. Q: Do you see a mix deterioration as you go for larger projects, which could negatively impact margins, mainly in Building Materials?A: Jan Jenisch (Chairman and CEO): We don't have a negative mix effect. Our organic growth rate of 6.7% was clearly above expectations. We have stable cement pricing year-over-year and a 2.1% sequential price increase. In aggregates, we reported 4% price growth and stick to our mid-single-digit guidance. The EBITDA not growing proportionally to sales is really based on oil-driven cost inflation. If we didn't have the geopolitical disturbance starting in March, we would have very healthy EBITDA margins. Q: Can you talk about the one-off insurance proceeds highlighted as a headwind this year? Should we think of 2025 EBITDA as artificially inflated?A: Baris Oran (CFO): We have about $55 million in proceeds from prior years. Of that, $17 million was in Q2, related to an event in 2024 with collection in Q2 of 2025. There will be another lumpiness in Q4. Land sales and insurance proceeds are common in our industry and create lumpiness. As a new standalone public company, we will continue to refine our process and share appropriate details for modeling. Q: Is this pace of M&A a good cadence? Should we expect aggregates-led deals, or are you thinking more broadly about your M&A strategy?A: Jan Jenisch (Chairman and CEO): We are ready to do a lot of M&A with our strong balance sheet, but we are value-focused. PB Materials was not only aggregates-led but also in one of the best-growing markets with synergies with our cement network. Rapid Redi-Mix is important for network integration in the Dallas-Fort Worth market, our most dense market. We don't expect to make Redi-Mix acquisitions all over the country, but we will do so in specific markets where we have significant synergies. Q: How significant are regional variations on pricing and volume within the US and Canada?A: Jan Jenisch (Chairman and CEO): Our pricing is really broad-based across all regions. We have specific markets that are a bit more attractive, but overall it's very broad-based. We see strength in Canada in commercial categories like energy projects and data centers, especially in the west. Throughout the US, we are happy with our footprint, and we are able to benefit from key projects where about 90% are within our reach. Q: How do we get from margins being down a lot in the first half to flat in the second half, particularly with negative price-cost still in place in Q3?A: Baris Oran (CFO): Our pricing has been executed well. Building Envelope price increases may experience a 30-to-90-day lag as we work through previously quoted large-scale projects. Fuel surcharges have at least a 30-day lag. We expect the benefit of Q2 pricing actions to build into Q3, and additional pricing in July and August will benefit Q3 and Q4. On the cost side, we assume elevated levels continue in Q3 with some moderation in Q4. Q: Your cost inflation guidance implies a sharp deceleration in the second half versus the first half. Am I missing something?A: Baris Oran (CFO): In Q2, we saw very escalated cost levels, not only in raw materials and diesel but also in US freight rates due to capacity being taken out of the market. We expect these conditions to continue in Q3 at very high elevated levels and moderately improve in Q4. That is the base case of our assumption set. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Amrize Ltd? Here are five stocks we like better. Strong second-quarter growth: Revenue increased 8.6% and organic growth reached 6.7%, supported by demand from data centers, energy, infrastructure and advanced-manufacturing projects. Adjusted EBITDA rose 5.8% to $986 million, while net income increased 14.4%. Cost inflation pressured profitability: Building Envelope EBITDA fell 5.2% as freight, diesel and raw-material costs rose faster than pricing could be implemented. Amrize expects price-over-cost performance to improve in the second half, turning positive in the fourth quarter. Outlook and capital returns: The company raised 2026 revenue guidance to $12.5 billion–$12.7 billion but set adjusted EBITDA guidance at $3.1 billion–$3.2 billion, reflecting inflation and pricing delays. Amrize returned $502 million to shareholders in the quarter and continues expanding capacity through acquisitions and capital projects. Amrize (NYSE:AMRZ) reported second-quarter revenue growth of 8.6%, supported by demand from large commercial, infrastructure, energy and advanced-manufacturing projects, while higher freight, diesel and raw-material costs pressured profitability and led the company to update its full-year adjusted EBITDA outlook. Chairman and CEO Jan Jenisch said the company generated 6.7% organic growth during the quarter, citing its presence in markets serving data centers, energy facilities, semiconductor plants and transportation infrastructure. Net income rose 14.4%, adjusted EBITDA increased 5.8% to $986 million, and adjusted diluted earnings per share grew 8.6%, according to management. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Jenisch said Amrize’s project pipeline remains supported by more than 300 planned data centers across North America, based on the Dodge Construction Index. He said the company’s footprint and distribution network position it to serve more than 90% of those projects. Building Materials revenue rose 8.2% to $2.4 billion, including 5.6% organic growth. The segment’s adjusted EBITDA increased 5.2% to $793 million. Cement volumes increased 5%, while aggregates volumes grew 6.5%, driven by commercial and infrastructure activity, particularly in data centers and energy-related projects. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Aggregate pricing increased 4% on a freight-adjusted basis. Cement pricing declined 0.2% year over year on a constant-currency basis but increased 2.1% sequentially from the first quarter, as U.S. price increases implemented in April began to take effect. The company reported premium cement pricing of more than $171 per short ton in the second quarter. Chief Financial Officer Baris Oran said volume growth, cement and aggregate pricing, contributions from PB Materials and savings from the company’s ASPIRE operational-efficiency program supported segment profitability. However, he said elevated freight and diesel expenses, along with a more difficult comparison against $17 million of insurance proceeds in the prior-year quarter, weighed on results. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling For the full year, Amrize expects cement pricing to be flat to up low single digits and freight-adjusted aggregates pricing to rise by mid-single digits. Management expects strong cement and aggregate volume growth for the year, although year-over-year growth rates are expected to moderate in the second half due to tougher comparisons. Building Envelope revenue rose 9.4% to $1 billion, driven primarily by above-market volume growth in commercial roofing and residential shingles. Commercial roofing benefited from large-scale projects, including data centers and warehouses, as well as commercial reroofing activity. Residential roofing recorded its highest quarterly revenue in company history, Oran said. The company attributed above-market shingles growth to commercial sales investments and distributor inventory stocking. Amrize now expects residential roofing volumes to rise by high single digits for the full year, compared with its earlier expectation for flat volumes. Building Envelope adjusted EBITDA fell 5.2% from the prior-year period. Management said the decline reflected a lag between pricing realization and oil-driven increases in freight and raw-material costs. The company implemented price increases during April, May and June, announced additional increases effective in July, and has further increases scheduled for August. Oran said price changes in Building Envelope can take 30 to 90 days to be realized because projects are often quoted in advance. Management expects pricing and fuel surcharges to contribute more meaningfully in the second half, though it expects price-over-cost performance to turn positive in the fourth quarter rather than earlier in the year. Amrize raised its 2026 revenue guidance to between $12.5 billion and $12.7 billion. It updated adjusted EBITDA guidance to a range of $3.1 billion to $3.2 billion, citing the persistence and magnitude of oil-driven inflation and the lag in recovering those costs through pricing and surcharges. Management expects strong volumes to contribute $150 million to $170 million for the full year. Price increases are expected to add $60 million to $80 million. Higher freight, diesel and raw-material costs are expected to create a $140 million to $170 million headwind. ASPIRE savings are expected to total approximately $80 million, while M&A is expected to contribute $30 million to $50 million. The company also expects an approximately $55 million headwind from lapping insurance recoveries recorded in 2025. Oran said the company expects elevated costs to continue in the third quarter before moderating in the fourth quarter. Management expects both operating segments to show better price-over-cost performance in the second half than in the first half. Amrize invested $241 million in capital expenditures during the quarter. The company completed a 660,000-ton capacity expansion at its Missouri cement plant and is pursuing additional cement capacity projects in Quebec, Texas and Alberta. It also has five greenfield aggregate quarry projects underway that are expected to add more than 150 million tons of reserves. The company said its July acquisition of Dallas-Fort Worth concrete producer Rapid Redi-Mix is expected to be accretive to earnings per share this year and to create synergies with its cement and aggregates network. Jenisch said PB Materials, the West Texas aggregates business acquired earlier in the year, has exceeded initial expectations. Amrize returned $502 million to shareholders in the second quarter, including $197 million of share repurchases under its $1 billion buyback program. The board declared a quarterly dividend of $0.11 per share, payable Aug. 26. As of June 30, the company reported a leverage ratio of 1.7 times, $729 million in cash and cash equivalents, and total available liquidity of $4 billion. Amrize AG focuses on building materials business in North America. The company was incorporated in 2023 and is based in Zug, Switzerland. Amrize AG operates independently of Holcim AG as of June 23, 2025. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Amrize Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Release Date: August 07, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Amrize Ltd (NYSE:AMRZ) delivered strong revenue growth of 8.6% in Q2 2026, driven by increased mega project demand from data centers, energy, and infrastructure modernization. The company achieved industry-leading organic growth of 6.7%, demonstrating the strength of its network and strategic footprint in attractive markets. Amrize Ltd (NYSE:AMRZ) grew net income by 14.4% and diluted earnings per share by 14.7%, reflecting solid operational performance. The company is successfully executing its capital allocation strategy, investing $241 million in CapEx for expansion and returning $502 million to shareholders through dividends and buybacks. The Aspire program is on track, delivering $29 million in savings in Q2 and progressing toward its $80 million full-year target, which helps offset cost headwinds. Amrize Ltd (NYSE:AMRZ) is well-positioned for future growth with a strong order backlog, including over 300 planned data centers in North America, and expects to serve over 90% of these projects. Amrize Ltd (NYSE:AMRZ) faced significant cost headwinds from oil price-driven inflation, leading to higher freight, diesel, and raw material costs that impacted profitability. The company experienced a timing difference between price realization and cost inflation, which negatively affected adjusted EBITDA performance in Q2. Building envelope adjusted EBITDA declined 5.2% year-over-year due to the lag between price increases and cost inflation, despite improved sequential pricing. Cement pricing remained slightly down year-over-year in Q2, and the company revised its full-year cement pricing expectations to flat or up low single-digits. Amrize Ltd (NYSE:AMRZ) revised its full-year adjusted EBITDA guidance downward due to the persistence of cost inflation and timing issues, expecting price-over-cost to only turn positive in Q4. The company is lapping significant insurance recoveries from 2025, creating a net headwind of approximately $55 million to full-year 2026 earnings. Warning! GuruFocus has detected 3 Warning Signs with AMRZ. Is AMRZ fairly valued? Test your thesis with our free DCF calculator. Q: Your full-year outlook indicates cement prices should rise in the second-half. Can you talk about the confidence driving that given the lack of traction in the first half, and are these new hikes or existing ones being implemented more slowly? A: Jan Janic (Chairman and CEO): We had a slow start, but the majority of our price increases executed on April 1st. While Q2 year-over-year pricing was slightly down 0.2%, we saw a 2.1% sequential increase over Q1. This is the best mark in the industry, as peers are reporting minus one to minus three. We are guiding to flat to low single-digit pricing, but I am confident we will achieve low single-digit cement pricing in the second-half. Q: How do you see the M&A outlook and pipeline over the next six to 12 months? A: Jan Janic (Chairman and CEO): We are always working on potential transactions and our pipeline is healthy and growing across both building materials and building envelopes. We acquired PB Materials, a market leader in West Texas, which is exceeding expectations, and closed Rapid Ready Mix in Dallas-Fort Worth in July. We are value-focused and expect more M&A to come, particularly in markets with significant synergies. Q: Can you level set on price-cost assumptions versus your prior guidance framework? How much of the incremental headwind is driven by lower price realization versus higher cost? A: Barish Oren (CFO): The guidance change is entirely related to the duration and magnitude of oil-driven cost inflation and timing of price realization. Roughly a third comes from the lag between building envelope pricing and cost inflation. Another third is from lower cement pricing expectations due to geographical mix. The final third is from higher freight rates that fuel surcharges have not fully offset. We expect strong price momentum in the second-half, but timing differences will be a headwind to 2026 earnings. Q: In building envelope, your guidance implies a flattish revenue number in the second-half. Would we expect volumes to be lighter after such a good second quarter? A: Jan Janic (Chairman and CEO): In commercial, we expect growth from our project pipeline and backlog to continue, with full-year commercial roofing volumes at low single-digits. In residential, we have strong momentum and expect seasonal patterns to support stable re-roofing. We now expect residential roofing volumes to be up high single-digits for the full year, compared to our earlier flat volume forecast. Q: Do you see a mix deterioration as you go for larger projects, which could negatively impact margins in building materials? A: Jan Janic (Chairman and CEO): We don't have a negative mix effect. Our organic growth rate of 6.7% was above expectations. We have stable cement pricing year-over-year with a 2.1% sequential increase, and aggregates pricing grew 4% year-over-year. The EBITDA not growing proportionally to sales is really based on oil-driven cost inflation. Without the geopolitical disturbance starting in March, we would have had very healthy EBITDA margins. Q: Can you talk about the one-off insurance proceeds headwind this year? Was 2025 EBITDA artificially inflated, and what is your cement pricing expectation for the next three to five years? A: Jan Janic (Chairman and CEO) & Barish Oren (CFO): Insurance payments and land sales create lumpiness in our industry. We had about $55 million in proceeds in the prior year, with $17 million in Q2 related to a 2024 event. We are being transparent to help with modeling. On cement, we are confident in our footprint of 18 plants and 141 terminals. We are investing in capacity expansions, like the 660,000-ton expansion in Missouri, which comes at the right time as cement is in high demand for large key projects. Q: Is the pace of M&A a good cadence, and should we expect aggregates-led deals or a broader strategy? A: Jan Janic (Chairman and CEO): We are ready to do a lot of M&A with our strong balance sheet, but we are value-focused. PB Materials was a fantastic aggregates deal in a high-growth market with synergies. Rapid Ready Mix is important for the Dallas-Fort Worth market, our most dense market, where network integration is key. We won't necessarily make ready-mix acquisitions all over the country, but we will do so in specific markets with significant synergies. Q: How significant are regional variations on pricing and volume within the US and Canada? A: Jan Janic (Chairman and CEO): Our pricing is really broad-based across all regions. We see strength in Canada in commercial categories like energy projects and data centers, especially in Western Canada. We are very happy with our footprint, which allows us to serve over 90% of the new data center projects planned across North America. Q: How do we get margins from being down in the first half to flat in the second half, especially with negative price-cost in Q3? A: Jan Janic (Chairman and CEO) & Barish Oren (CFO): We have very high customer demand and are winning large projects. We have 4% aggregates pricing and guide to mid-single-digits, with cement turning positive in Q2. In building envelope, we are covering oil-driven inflation with price increases and transportation surcharges. Our Aspire program delivered $29 million in Q2 savings and we guide to $80 million for the full year. Price increases may experience a 30-to-90-day lag, but we expect benefits to build into Q3 and Q4. We assume elevated costs continue in Q3 with some moderation in Q4. Q: Your cost inflation guidance implies a sharp deceleration in the second-half versus the first half. Am I missing something? A: Barish Oren (CFO): In Q2, we saw very escalated cost levels in raw materials, diesel, and US freight rates due to capacity being taken out of the market. We expect these elevated conditions to continue in Q3 and moderately improve in Q4, which is the base case for our full-year assumptions. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Ad hoc announcement pursuant to Art. 53 LR Revenues up 8.6% with organic growth of 6.7% on strong demand and pricing Net Income increased 14.4% to $476 million and Adjusted EBITDA grew 5.8% to $986 million Diluted Earnings Per Share increased 14.7% and Adjusted Diluted Earnings Per Share grew 8.6% $502 million returned to shareholders through share repurchases and dividends Raised FY Revenues guidance on demand; Revised Adjusted EBITDA on oil price driven cost inflation CHICAGO & ZUG, Switzerland, August 06, 2026--(BUSINESS WIRE)--Amrize (AMRZ) announced today its second quarter 2026 financial results1. Jan Jenisch, Chairman and CEO: "We delivered strong revenue growth of 8.6% in the second quarter driven by increased mega-project demand from data centers and energy to advanced manufacturing plants and infrastructure modernization. With the strength of our network and strategic footprint in the most attractive markets, we were able to achieve industry-leading organic growth of 6.7%. We also grew Net Income by 14.4% and Adjusted EBITDA by 5.8% with strong customer demand, continued aggregates pricing growth and ASPIRE savings. Oil price driven cost inflation drove higher freight, diesel and raw materials costs, which we are proactively managing with pricing, fuel surcharges and ASPIRE. In our Building Materials business, we had a strong quarter with above-market volume growth, premium cement pricing and leading aggregates pricing growth. Our Building Envelope business achieved above-market sales momentum, driven by a strong pipeline of large-scale commercial projects and growth in residential roofing. Segment pricing improved sequentially as increases phased in throughout the quarter. We continue to invest for profitable growth with Capex and M&A. We invested $241 million in Capex in the quarter as we expand production and improve efficiency to best serve customers. We had excellent contributions from PB Materials, our recently acquired aggregates business in West Texas, and in July, we acquired Rapid Redi-Mix, bringing significant synergies with our cement and aggregates network in Texas. Looking to the back half of the year, we expect continued strong pricing for cement and aggregates. Additionally, we expect roofing price over cost to improve as the year progresses. Our ASPIRE program is building momentum and on track to deliver savings through the year. We expect strong demand and pricing to increase full year revenue, while oil price driven cost inflation will be a headwind to earnings. We remain well positioned to capitalize on growing demand while strengthening operational efficiency to deliver long term, profitable growth. I thank our over 19,000 empowered Amrize teammates for a strong quarter as we deliver for our customers as the partner of choice." Shareholder Return Amrize returned $502 million to shareholders in the second quarter. The company launched its $1 billion share buyback program and repurchased $197 million2 worth of Amrize shares in the second quarter. Amrize paid $305 million3 of dividends including the special dividend for 2025 of $0.44 per share on May 4, 2026, and the first quarter dividend of $0.11 per share on May 20, 2026. The Amrize Board of Directors declared a dividend of $0.11 per share for the second quarter to be paid on August 26, 2026. The last trading day with entitlement to receive the quarterly dividend, known as the cum-dividend date, is August 17, 2026. The shares will be traded ex-dividend on August 18, 2026, which is also the record date. Dividends are paid out of capital contribution reserves4 and are not subject to Swiss withholding tax. Full Year 2026 Financial Guidance5 Amrize is updating its FY 2026 financial guidance reflecting increased demand and oil price driven cost inflation. Building Materials had a good first half of the year with strong revenue growth and 8.4% growth in Adjusted EBITDA. For the full year, we continue to expect volume growth in cement and aggregates. The company now expects cement pricing to be flat or up low single digits, and continues to expect aggregates pricing to be up mid-single digits on a freight adjusted basis. Building Envelope improved revenue and operational performance as the first half of the year progressed. The company continues to expect low-single digit growth in commercial roofing volumes and now expects high single digit volume growth in residential roofing for the full year. Price increases are phasing in across the Building Envelope portfolio and we expect second half price-cost to improve compared to the first half of the year. Amrize is making good progress with its ASPIRE program and expects to achieve $80 million of savings in 2026. Across both businesses, additional price increases are expected to be realized in the second half of the year. The timing difference between price realization and oil price driven cost inflation is expected to affect Full Year company earnings. Based on these drivers, Amrize is updating its 2026 financial guidance as follows: The company's 2026 financial guidance now includes the following underlying assumptions: Amrize Consolidated Results (Unaudited) Revenues were $3,494 million in the second quarter of 2026 compared to $3,218 million in 2025. Revenues were 8.6% higher in the quarter, which was primarily driven by strong volume growth of $200 million and contributions from acquisitions of $54 million from the Building Materials segment, aggregates price increases of $16 million and a $6 million favorable impact from foreign exchange. Net income was $476 million for the second quarter of 2026, or $0.86 per diluted share, compared with Net income of $416 million, or $0.75 per diluted share, in the second quarter of 2025. Adjusted diluted earnings per share for the second quarter of 2026 was $0.88 compared to $0.81 in the second quarter of 2025. Adjusted EBITDA was $986 million for the second quarter of 2026 compared to $932 million in 2025. The increase was driven by higher volumes, aggregates price increases, ASPIRE savings, partially offset by higher freight, diesel and raw materials costs, as well as lower insurance proceeds compared to the prior period. Adjusted EBITDA Margin was 28.2% for the three months ended June 30, 2026, compared to 29.0% for the three months ended June 30, 2025. Unallocated corporate costs in the second quarter of 2026 were $44 million compared to $72 million in the second quarter of 2025 and $56 million in the first quarter of 2026. The company invested $241 million and $511 million in capital expenditures, net for the three and six months ended June 30, 2026, respectively, and expects to invest approximately $900 million in 2026 to expand production, increase operational efficiency and best serve customers. Amrize Building Materials Results (Unaudited) Building Materials Revenues were $2,445 million in the second quarter of 2026 compared to $2,259 million in 2025. Revenue growth of 8.2% in the second quarter of 2026 was driven by volume growth, contributions from acquisitions, and aggregates price increases. Cement volumes were up 5.0%. Supplementary Cementitious Materials volumes were up double digits. Pricing was down 0.2% on a constant currency basis and improved 2.1% compared to Q1 2026 as increases were realized. Aggregates volumes were up 6.5% and pricing grew 4.0% on a constant currency, freight adjusted basis, broadly supported throughout our geographies. Second quarter 2026 Segment Adjusted EBITDA for the Building Materials segment was up 5.2% to $793 million, compared to $754 million in 2025. The increase was mainly attributable to volume growth, aggregates price increases, contributions from acquisitions, and ASPIRE savings, partially offset by higher freight and diesel costs and higher insurance proceeds in the prior year related to insurable events in 2024. Amrize Building Envelope Results (Unaudited) Building Envelope Revenues were $1,049 million for the second quarter of 2026, compared to $959 million in 2025. Revenue growth of 9.4% in the second quarter of 2026 was primarily driven by above-market volume growth. Higher commercial roofing volumes were driven by increased system selling and large-scale projects, including data centers and warehousing, as well as resilient commercial re-roofing demand. Residential roofing volumes grew above-market, driven by investments in commercial capabilities and distributor inventory stocking. Commercial and residential volume growth was partially offset by softer demand for weatherproofing and insulation products. Pricing sequentially improved from the first quarter of 2026 as increases were phased in throughout the second quarter. Additional price increases were implemented in July and are planned in August for select brands. The company expects second half price-cost to improve compared to the first half of the year. Second quarter 2026 Segment Adjusted EBITDA for the Building Envelope segment was $237 million, compared to $250 million in 2025. The decrease in Segment Adjusted EBITDA was primarily attributable to higher freight and raw materials costs, partially offset by volumes. Amrize Cash Flow and Debt For the six months ended June 30, 2026, net cash used in operating activities was $475 million as compared to $441 million for the six months ended June 30, 2025. The increase in cash used in operating activities of $34 million was primarily driven by higher accounts receivable and settlement of amounts due to related parties, partially offset by higher net income and non-cash expenses. Free Cash Flow17 was a use of $986 million for the six months ended June 30, 2026 compared to a use of $860 million for the six months ended June 30, 2025. The decrease in Free Cash Flow was primarily driven by higher Capex due to growth initiatives. Free Cash Flow is historically seasonal and the company generates the majority of its cash flow in the second half of the year. Gross Debt was $6,004 million and Cash and cash equivalents were $729 million as of June 30, 2026, resulting in Net Debt18 of $5,275 million. Net Leverage Ratio19 as of June 30, 2026 was 1.7x. Revision of Prior Period Financial Statements During the three months ended June 30, 2026, the Company identified prior period misstatements. In evaluating these misstatements together with previously identified uncorrected misstatements (collectively, the "Other Misstatements"), the Company concluded that, while the aggregate misstatements were not material to any previously issued consolidated financial statements, correcting them in the current period would have been material to the Company's consolidated results of operations for the three and six months ended June 30, 2026 and would be material to the Company's forecasted consolidated results of operations for the year ended December 31, 2026. The most significant misstatement relates to an understatement of deferred revenue associated with extended warranty arising from its acquisitions of Duro-Last in 2023 and Malarkey in 2022, both within the Building Envelope segment. The understatement of deferred revenue was $78 million and $76 million as of December 31, 2025 and March 31, 2026, respectively. The Company evaluated the materiality of the extended warranty misstatement and the Other Misstatements, in consideration of both quantitative and qualitative factors, and determined that they were not material, individually or in the aggregate, to any previously issued consolidated financial statements. See Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026 for additional information. The Company has revised its previously issued financial statements and related disclosures as of the year ended December 31, 2025, as of and for the three months ended March 31, 2025, as of and for the three and six months ended June 30, 2025, and as of and for the three months ended March 31, 2026 to correct the extended warranty misstatement and other unrelated immaterial misstatements in its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 to be filed with the SEC, and will reflect these revisions in future filings that include the affected periods. Second Quarter Report and Webcast Information Amrize expects to file its second quarter 2026 Form 10-Q on or before August 10, 2026. Amrize will host a live webcast to discuss the company’s financial results at 7:30 am Central Time on Friday, August 7, 2026. Registration for the live webcast can be completed at https://amrize-quarterly-results-q2-2026.open-exchange.net/ Amrize’s financial results, presentation materials and webcast are accessible in the events section of www.amrize.com/investors. A replay and transcript will be available at the same location following the webcast. About Amrize Amrize (NYSE: AMRZ) is building North America, as the partner of choice for professional builders with advanced branded solutions from foundation to rooftop. With over 1,000 sites and a highly efficient distribution network, we deliver for our customers in every U.S. state and Canadian province. Our more than 19,000 teammates uniquely serve every construction market from infrastructure, commercial and residential to new build, repair and refurbishment. Amrize achieved $11.8 billion in revenues in 2025 and is listed on the New York Stock Exchange and the SIX Swiss Exchange. Learn more at www.amrize.com. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this presentation may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding expected cost savings, future financial targets, business strategies, management’s views with respect to future events and financial performance, and the assumptions underlying such expected cost savings, targets, strategies, and statements. These forward-looking statements concern our goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions, and other statements that are not necessarily based on historical facts. Without limitation, you can identify these statements by the fact that they do not relate strictly to historical or current facts, and these statements may contain words such as "may," "will," "could," "should," "might," "projects," "expects," "believes," "anticipates," "intends," "plans," "continue," "estimate," or "pursue," or similar expressions, or the negative or other variations thereof or comparable terms. In particular, they include statements relating to, among other things, future actions, strategies, future performance, future revenues, income and cash flows, the outcome of contingencies such as legal proceedings, and regulatory compliance. Actual results may differ materially from those contemplated (expressed or implied) by such forward-looking statements because of, among other things, potential risks and uncertainties, such as: the effect of political, economic and market conditions and geopolitical events; the level of demand in the construction industry; the cyclicality of the industries and businesses in which our customers operate; changes in the cost and/or availability of raw materials required to run our business; energy and fuel costs; adverse weather conditions and natural disasters; the logistical and other challenges inherent in our operations; the actions and initiatives of current and potential competitors; the level and volatility of, interest rates and other market indices; the ability of Amrize to realize the expected synergies for our acquisitions; the ability of Amrize to achieve margin expansion goals; the ability of Amrize to maintain satisfactory credit ratings; the outcome of pending litigation or future litigation; the impact of current, pending and future legislation and regulation; factors related to the failure of Amrize to achieve some or all of the expected strategic benefits or opportunities expected from the separation from Holcim Ltd ("Holcim"); material costs and expenses as a result of the separation from Holcim; our limited history operating as an independent, publicly traded company; our obligation to indemnify Holcim pursuant to the agreements entered into connection with the separation and the risk Holcim may not fulfill any obligations to indemnify Amrize under such agreements; that under applicable tax law, Amrize may be liable for certain tax liabilities of Holcim following the separation if Holcim were to fail to pay such taxes; the fact that Amrize may receive worse commercial terms from third-parties for services it used to receive from Holcim prior to the separation; the fact that certain of Amrize's executive officers and directors may have actual or potential conflicts of interest because of their previous positions at Holcim; and potential difficulties in maintaining relationships with key personnel; and other factors which can be found in Amrize’s media releases and Amrize’s filings with the SEC. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. You are advised, however, to review any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission and in our other public statements. FINANCIAL MEASURES AND DEFINITIONS Adjusted EBITDA is defined as Segment Adjusted EBITDA including unallocated corporate costs. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Revenues. Adjusted Diluted EPS is defined as Diluted Earnings per Share, excluding the impact of Acquisition and integration-related costs, Litigation-related costs, Loss on impairments, Restructuring and other costs, Spin-off and separation-related costs. Capital Expenditures, Net includes purchases of property, plant and equipment, proceeds from property and casualty insurance income, proceeds from land expropriation, and proceeds from disposals of long-lived assets. Constant Currency Price per Ton is defined as price per ton adjusted to prior period foreign exchange rates, which is intended to eliminate the impact of foreign currency exchange rate fluctuations. Diluted Earnings per Share is computed by dividing net income attributable to the Company by the weighted-average number of shares outstanding during the applicable period, plus the effect of dilutive securities EBITDA is defined as Net income (loss), excluding Depreciation, depletion, accretion and amortization, Interest expense, net, and Income tax benefit. EBITDA Margin is defined as EBITDA divided by Revenues. Free Cash Flow is defined as Net cash used in operating activities less Capital Expenditures, Net. Gross Debt is defined as the total amount of short-term borrowings, current portion of long-term debt, and long term debt. Net Debt is defined as the sum of Short-term borrowings, Long-term debt and Current portion of long-term debt minus Cash and cash equivalents. Net Leverage Ratio is defined as Net Debt divided by trailing 12 months Adjusted EBITDA. Net Working Capital is defined as the change in accounts receivables, inventory, and accounts payable. Organic Growth is defined as change excluding the impact of acquisitions, divestitures, and foreign currency fluctuations. Segment Adjusted EBITDA is defined as Net income (loss), and excludes the impact of Depreciation, depletion, accretion and amortization, Interest expense, net, Income tax benefit, Acquisition and integration-related costs, Litigation-related costs, Loss on impairments, Restructuring and other costs, Spin-off and separation-related costs, Other non-operating (expense) income, net, Income from equity method investments, and unallocated corporate costs. Segment Adjusted EBITDA Margin is defined as Segment Adjusted EBITDA divided by Revenues. This media release contains certain financial measures of historical performance and financial positions that are not prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). We refer to these measures as "Non-GAAP financial measures". Non-GAAP financial measures are reconciled to the most comparable U.S. GAAP financial measures in the schedules attached hereto. Adjusted financial measures are Non-GAAP financial measures and exclude adjusting items as described and reconciled to comparable U.S. GAAP financial measures in the Reconciliation of U.S. GAAP to Non-GAAP financial measures contained in this Media Release. We believe these adjusted financial measures facilitate analysis and comparisons of our ongoing business operations because they exclude items that may not be indicative of, or are unrelated to, the Company’s and our business segments’ core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. These adjustments are consistent with how management views our businesses. Management uses these Non-GAAP financial measures in making financial, operating and planning decisions, and evaluating Amrize’s and each business segment’s ongoing performance. Our Non-GAAP financial measures are intended to supplement and should be read together with, and are not an alternative or substitute for, and should not be considered superior to, our reported financial results. Accordingly, users of our financial statements should not place undue reliance on these Non-GAAP financial measures. Because Non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ Non-GAAP financial measures having the same or similar names. As required by SEC rules, the tables on pages 13-15 below present a reconciliation of our presented Non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. ... View source version on businesswire.com: https://www.businesswire.com/news/home/20260806113254/en/ Contacts Media Relations: [email protected] Investor Relations: [email protected]

Amrize Ltd (AMRZ) came out with quarterly earnings of $0.88 per share, missing the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.35%. A quarter ago, it was expected that this company would post a loss of $0.14 per share when it actually produced a loss of $0.16, delivering a surprise of -14.29%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Amrize Ltd, which belongs to the Zacks Building Products - Miscellaneous industry, posted revenues of $3.49 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.73%. This compares to year-ago revenues of $3.22 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Amrize Ltd shares have lost about 2.2% since the beginning of the year versus the S&P 500's gain of 12.8%. While Amrize Ltd has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Amrize Ltd was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.16 on $3.88 billion in revenues for the coming quarter and $2.60 on $12.45 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Miscellaneous is currently in the top 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Southland Holdings (SLND), has yet to report results for the quarter ended June 2026. This infrastructure construction company is expected to post quarterly loss of $0.53 per share in its upcoming report, which represents a year-over-year change of -179%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Southland Holdings' revenues are expected to be $170 million, down 21.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amrize Ltd (AMRZ) : Free Stock Analysis Report Southland Holdings, Inc. (SLND) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Everus Construction Group, Inc. (ECG) came out with quarterly earnings of $1.64 per share, beating the Zacks Consensus Estimate of $1.1 per share. This compares to earnings of $1.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +49.09%. A quarter ago, it was expected that this company would post earnings of $0.76 per share when it actually produced earnings of $1.14, delivering a surprise of +50%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Everus Construction Group, Inc., which belongs to the Zacks Building Products - Miscellaneous industry, posted revenues of $1.23 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 14.19%. This compares to year-ago revenues of $921.47 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Everus Construction Group, Inc. shares have added about 55% since the beginning of the year versus the S&P 500's gain of 11%. While Everus Construction Group, Inc. has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Everus Construction Group, Inc. was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.11 on $1.13 billion in revenues for the coming quarter and $4.39 on $4.38 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Miscellaneous is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Amrize Ltd (AMRZ), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6. This company is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of +18%. The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level. Amrize Ltd's revenues are expected to be $3.37 billion, up 4.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Everus Construction Group, Inc. (ECG) : Free Stock Analysis Report Amrize Ltd (AMRZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research