Building Materials Firm Cemex Reports Q3 Revenue Beat On Strong Pricing Across All Regions
Portfolio Pulse from Lekha Gupta
Cemex SAB de CV (NYSE:CX) reported a Q3 revenue increase of 9% Y/Y to $4.571 million, beating the consensus of $4.489 billion. The results were driven by strong pricing across all markets, decelerating input cost inflation, and contributions from growth investment strategy. However, volumes declined 4% Y/Y in cement and ready-to-mix segments. EBITDA rose 32% Y/Y to $910 million, and net sales in the U.S. operations rose 5% Y/Y. The company also reported progress on its decarbonization roadmap.
October 26, 2023 | 5:41 pm
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Cemex reported a Q3 revenue beat, driven by strong pricing across all markets. However, volumes declined in some segments. The company also reported progress on its decarbonization roadmap.
Cemex's Q3 revenue beat, driven by strong pricing across all markets, is a positive signal for investors. However, the decline in volumes in some segments could be a concern. The company's progress on its decarbonization roadmap could also be seen as a positive by investors who are increasingly focused on ESG factors.
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IMPORTANCE 80
RELEVANCE 100