Amrize

Amrize sells building materials in North America. Holcim spun it off in June 2025, and its shares trade on the New York Stock Exchange and the SIX Swiss Exchange. It has two segments.

Building Materials makes and sells cement, aggregates and ready-mix concrete. Building Envelope sells commercial and residential roofing and other products for the outside of buildings. Amrize has more than 1,000 sites and serves every US state and Canadian province.

Its customers build infrastructure, commercial buildings, homes and large projects such as data centers and factories. Revenues were $11.8 billion in 2025. In Q2 2026, Building Materials had revenues of $2,445 million and Building Envelope had revenues of $1,049 million.

The market prices Amrize for higher costs, flat cement prices and many changes in its management. In Q2 2026, revenues rose 8.6%, but the adjusted EBITDA margin fell to 28.2% from 29.0%, because oil prices raised freight, diesel and raw material costs. Amrize revised its 2026 adjusted EBITDA guidance to $3.1 billion to $3.2 billion for this reason, and it now expects cement prices to be flat or up only low single digits. In 2026, Amrize also changed its CFO twice, in April and in August, appointed a new chief accounting officer and replaced the president of Building Envelope.

For the gap to close, three things must be true. Amrize must reach its 2026 guidance, with price increases and fuel surcharges catching up with costs in the second half. Aggregates prices must keep rising at mid-single-digit rates, and demand from data centers, energy and factories must keep cement and aggregates volumes growing. The new finance team must keep the company's reports and guidance reliable.

The Q3 2026 report, estimated for about November 6, 2026, is the next test. The 2027 guidance in February 2027 is the main test. If these checks pass, the gap can close over the next three to five quarters. The main reason it may not close is a slowdown in US construction, which would lower volumes and prices together.

1. Nov 6, 2026 · est.Pending

   Q3 2026 earnings: price against costResults on track for adjusted EBITDA of $3.1 billion to $3.2 billion, with better price against cost than in the first half, pass; a cut to the guidance fails.
2. Feb 2027 · est.Pending

   2027 guidance2027 guidance for adjusted EBITDA growth with higher cement and aggregates prices passes; guidance for flat or lower adjusted EBITDA fails.

Every passed and failed checkpoint across all picks

Amrize funds its operations with senior unsecured notes, commercial paper and a revolving credit facility. At June 30, 2026, gross debt was $6,004 million: $735 million of commercial paper, $1,034 million of long-term debt due within one year and $4,235 million of long-term debt. Read more

• Demand for cement, aggregates and roofing depends on US and Canadian construction. Higher interest rates or a weak housing market can lower volumes and prices.
• Energy and freight are large costs. In Q2 2026, oil prices raised freight, diesel and raw material costs, and the adjusted EBITDA margin fell to 28.2% from 29.0%. If prices do not catch up with costs, margins can fall further.
• Amrize changed its CFO twice in 2026, appointed a new chief accounting officer in September 2026 and replaced the president of Building Envelope. Frequent changes in finance leaders can reduce confidence in guidance and controls.
• Gross debt was $6.0 billion at June 30, 2026, with $1.77 billion due within 12 months, including commercial paper. Higher rates raise the cost to refinance this debt.

• September 11, 2026Amrize appointed Mario Gross as President, Building Envelope. Jake Gosa, the former president, gave notice of his resignation on September 6, 2026, and stays an employee during his 12-month notice period.
• August 28, 2026The board appointed Zane Nielsen as Chief Accounting Officer and Corporate Controller from September 1, 2026, replacing Richard Hoffman in that role.
• August 24, 2026Amrize appointed Samuel J. Poletti, its Chief Strategy and M&A Officer, as CFO. He succeeded Baris Oran, who had become CFO on April 1, 2026.