Cemex CEO reflects on company’s performance

Cemex operations in the U.S. reported net sales of $5.03 billion in 2022, an increase of 16 percent versus the prior year.

In the fourth quarter, Cemex’s U.S. operations reported net sales of $1.22 billion for an increase of 12 percent over the prior-year period.

Operating EBITDA (earnings before interest, taxes, depreciation and amortization) was flat at U.S. operations last year at $762 million, but it increased 16 percent in the fourth quarter to $202 million.

“2022 was a year of unique challenges as inflation spiked to 40-year highs, but I am pleased by how we responded and expect to continue to see the benefits of our strategy play out in 2023,” says Fernando González, CEO of Cemex. “Importantly, after several quarters in which we have been able to offset inflation in dollar terms, I am seeing growing evidence that actual margin recovery is underway.”

Companywide, Cemex’s net sales increased grew 12 percent in 2022 to $15.57 billion. They grew 12 percent in the fourth quarter to $3.86 billion.

Operating EBITDA companywide dropped 3 percent last year to $2.68 billion, and it fell 1 percent in the fourth quarter to $630 million.