Sector analysis · US
Materials: which companies drove growth
The 20 largest Materials companies by market cap at the end of Q1 2024 (31 Mar 2024), compared with Q4 2023.
The top 20 at Q1 2024
Q1 2024 vs Q4 2023: combined net profit $9.2B (+70%), median EPS +14% (15 of 19 up), market-cap-weighted price +11%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Linde plc | 20.3% | 3.16 → 3.35 | +6% | +0.7 pp | +13% |
| 2 | The Sherwin-Williams Company | 7.9% | 1.39 → 1.97 | +42% | +1.2 pp | +11% |
| 3 | Southern Copper Corporation | 7.0% | 0.58 → 0.95 | +64% | +2.3 pp | +24% |
| 4 | Freeport-McMoRan Inc. | 6.1% | 0.27 → 0.32 | +19% | +0.6 pp | +11% |
| 5 | Ecolab Inc. | 6.0% | 1.41 → 1.43 | +1% | +0.1 pp | +16% |
| 6 | CRH plc | 5.4% | — → 0.16 | — | — | +25% |
| 7 | Air Products and Chemicals, Inc. | 4.9% | 2.73 → 2.57 | −6% | −0.3 pp | −11% |
| 8 | Nucor Corporation | 4.4% | 3.16 → 3.46 | +9% | +0.5 pp | +14% |
| 9 | Johnson Controls International plc | 4.0% | 0.55 → −0.41 | to loss | −5.2 pp | +13% |
| 10 | Newmont Corporation | 3.7% | −3.22 → 0.14 | turned profitable | +26.3 pp | −13% |
| 11 | Dow Inc. | 3.7% | −0.15 → 0.73 | turned profitable | +4.9 pp | +5% |
| 12 | DuPont de Nemours, Inc. | 3.7% | −0.15 → 1.35 | turned profitable | +1.7 pp | −1% |
| 13 | Corteva, Inc. | 3.7% | −0.36 → 0.60 | turned profitable | +5.3 pp | +20% |
| 14 | Martin Marietta Materials, Inc. | 3.4% | 4.55 → 16.87 | +271% | +6.1 pp | +23% |
| 15 | Vulcan Materials Company | 3.3% | 1.70 → 0.77 | −55% | −1.0 pp | +20% |
| 16 | PPG Industries, Inc. | 3.1% | 0.38 → 1.69 | +345% | +2.5 pp | −3% |
| 17 | LyondellBasell Industries N.V. | 3.0% | 0.55 → 1.44 | +162% | +2.3 pp | +8% |
| 18 | Builders FirstSource, Inc. | 2.3% | 2.83 → 2.10 | −26% | −0.7 pp | +25% |
| 19 | Steel Dynamics, Inc. | 2.1% | 2.61 → 3.67 | +41% | +1.3 pp | +26% |
| 20 | International Flavors & Fragrances Inc. | 2.0% | −10.24 → 0.23 | turned profitable | +21.2 pp | +6% |
| Sector earnings growth | 100% | +69.6 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q4 2023, as market caps moved.
Joined the top 20 since Q4 2023
Left the top 20 since Q4 2023
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LIN | 0% | −1% | +6% | +3% | −6% | +12% | −3% | +6% | +10% | −20% | +22% | +4% |
| SHW | −4% | −53% | +42% | +78% | −9% | −40% | +5% | +50% | +12% | −43% | +12% | +60% |
| SCCO | +13% | −28% | +64% | +27% | −5% | −12% | +18% | 0% | +13% | +16% | +23% | +5% |
| FCX | +33% | −14% | +19% | +31% | −14% | −47% | +26% | +121% | −11% | −40% | +118% | +11% |
| ECL | +23% | 0% | +1% | +20% | +51% | −36% | −15% | +30% | +11% | −3% | −23% | +25% |
| CRH | sources disagree | — | — | +1,075% | +5% | −48% | to loss | turned profitable | +14% | −31% | to loss | turned profitable |
| APD | +16% | −12% | −6% | +22% | +180% | −68% | to loss | turned profitable | −99% | +13,718% | +5% | to loss |
| NUE | −21% | −31% | +9% | −23% | −61% | +16% | −45% | +288% | +1% | −38% | +97% | +56% |
| JCI | −48% | −31% | to loss | turned profitable | −34% | −34% | +14% | +49% | +150% | −68% | +18% | +22% |
| NEM | +2% | to loss | turned profitable | +429% | +8% | +55% | +35% | +10% | −10% | −28% | +148% | −31% |
| DOW | −38% | to loss | turned profitable | −15% | −52% | to loss | loss, bigger | loss, bigger | turned profitable | outside | loss, smaller | turned profitable |
| DD | turned profitable | to loss | turned profitable | −7% | +157% | to loss | loss, bigger | turned profitable | to loss | loss, bigger | turned profitable | outside |
| CTVA | to loss | loss, smaller | turned profitable | +152% | to loss | loss, smaller | turned profitable | +102% | to loss | loss, bigger | turned profitable | +62% |
| MLM | +20% | −32% | +271% | −72% | +24% | −19% | −60% | +186% | +26% | −33% | +442% | −83% |
| VMC | −10% | −18% | −55% | +200% | −32% | +42% | −56% | +148% | +17% | −33% | −34% | +97% |
| PPG | −13% | −79% | +345% | +33% | −11% | to loss | turned profitable | +21% | +1% | −34% | +28% | +15% |
| LYB | +5% | −76% | +162% | +96% | −38% | to loss | turned profitable | −36% | outside | outside | turned profitable | outside |
| BLDR | outside | −21% | −26% | outside | −15% | outside | outside | outside | outside | outside | outside | outside |
| STLD | −28% | −25% | +41% | −26% | outside | −34% | +6% | outside | +37% | −34% | +53% | +33% |
| IFF | −11% | to loss | turned profitable | +187% | −65% | to loss | loss, bigger | turned profitable | outside | −56% | outside | −71% |