Davy Morning Equity Briefing
Apr 20, 2026
CRH
Q1 preview: results to confirm growth potential in FY26
While Q1 tends to be a smaller quarter financially, we expect CRH to reiterate that another year of strong profit growth and margin expansion is likely in 2026. The year-to-date underperformance relative to US peers is unjustified and presents an attractive buying opportunity.
Economics weekly
Ireland’s budget surplus is likely to exceed Budget 2026’s €5bn
The main economic news of note this week relates to the UK economy, where key updates will cover the labour market, consumer prices, government borrowing and retail sales. Higher headline inflation is assured owing to energy prices and war in the Middle East, but April should still bring some relief through base effects and new policies. Elsewhere, US retail sales and various surveys of businesses and consumers will provide timely insight to possible resilience of developed economies despite ongoing war-driven disruption. We also consider some reasons that Ireland’s official surplus forecast for 2026 could exceed October’s €5bn.
