Cemex CEO reflects on fourth quarter, year-end 2023

By |  February 8, 2024

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Cemex reported its fourth-quarter and year-end 2023 results, noting that net sales deriving from U.S. operations were up 4 percent in the fourth quarter and 6 percent across all of last year.

In the fourth quarter, Cemex’s U.S. operations achieved net sales of $1.26 billion. The operations’ EBITDA was up 18 percent in the quarter to $239 million.

For all of 2023, Cemex’s U.S. operations had net sales of $5.33 billion. EBITDA at U.S. operations last year was up 37 percent to $1.04 billion.

Globally, Cemex says sales were up 8 percent in 2023 and that it achieved a 20 percent EBITDA increase.

“I am pleased to announce that 2023 is a record year for our company where we delivered not only great results and recovered from the extraordinary inflationary pressures of the last few years, but also continued executing against our ambitious decarbonization commitments, reducing our CO2 emissions by 4 percent [last] year and by 13 percent since 2020,” says Fernando González, CEO of Cemex. “Despite the significant macro challenges of the last four years, we have proven not only the resiliency of our business model, but also our ability to pivot and adjust rapidly to changing global conditions.

“This foundation gives us additional flexibility in capital allocation, where we continue to accelerate investments in our bolt-on growth strategy, initiate a sustainable return program for shareholders and bolster our capital structure,” González adds.

Related: Where Cemex ranks on the latest list of the nation’s top 100 sand and gravel producers

Kevin Yanik

About the Author:

Kevin Yanik is editor-in-chief of Pit & Quarry. He can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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