Results That Surprised
Cemex cleared the bar on multiple lines, with both sales and net income coming in ahead of forecasts. In the third quarter, operating Ebitda came in at $990 million, up 12%, outpacing the average estimate compiled by Bloomberg.
Mexico Leads The Rebound
Home turf carried the quarter. In Mexico, cement volumes climbed 7% and prices in pesos increased 5%, extending a recovery after both measures improved in the prior period. Those gains, paired with efficiency efforts, helped cushion softer spots elsewhere.
US Still A Drag
The US remains a headwind. Even with higher cement and aggregates volumes, results were pressured by an unplanned outage, quicker increases in raw material costs for some products, and lower cement prices.
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What It Means For Your Portfolio
At 8:06 a.m. in Mexico City, the stock slipped 1.2% to 18.84 pesos, and the country's benchmark index was down 0.83%. Looking ahead, watch two levers for earnings power: the push to lock in $475 million of recurring savings by 2027 and the full year Ebitda growth target of 16% to 17%.
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