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Research Alert: Amrize Q1: Materials Growth Offset By Envelope Decline, Guidance Intact

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

AMRZ reported mixed Q1 2026 results, with revenue growing 4.7% to $2.178B, though adjusted EBITDA fell 10.3% to $192M and margins compressed 150 bps to 8.8%. Building Materials segment strength (+12.9% revenue, +230 bps margin expansion) was offset by Building Envelope weakness (-9.8% revenue, -500 bps margin contraction). The company announced plans to begin its $1B share repurchase program and paid its first quarterly dividend of $0.11 per share. Management reaffirmed full-year guidance for revenue of $12.29B-$12.52B (up 4%-6%) and adjusted EBITDA of $3.25B-$3.34B (up 8%-11%). Consolidated profitability was pressured by elevated corporate costs of $56M following the Holcim separation, up from $30M prior year, though segment-level EBITDA excluding corporate costs increased 1.6%. Net leverage remained at 1.7x, with negative FCF of $1.163B reflecting typical seasonal patterns where cash generation concentrates in the second half.

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