Cemex earnings in US at 13-year high

Cemex operations in the United States reported net sales of $1 billion in the fourth quarter, an increase of 8 percent from the same period in 2019.

Additionally, Cemex’s U.S. operating EBITDA (earnings before interest, tax, depreciation and amortization) increased 25 percent to $186 million versus the fourth quarter of 2019.

For 2020, Cemex’s U.S. business generated $747 million in EBITDA. That was the highest reported annual amount at Cemex since 2007, the company says.

Global performance

Gonzalez

Companywide, Cemex says its EBITDA grew by double-digits on a year-over-year basis in most of the company’s regions.

Consolidated net sales increased 9 percent in the fourth quarter to $3.5 billion, and they increased 1 percent for the full year to $13 billion. Operating EBITDA increased 19 percent during the fourth quarter to $644 million, and it increased 7 percent for the full year to $2.46 billion.

“2020 was one of the most challenging years we have faced but it also was a remarkable year that tested the strengths of Cemex and several of our recent strategic initiatives,” says Fernando González, CEO of Cemex. “I am proud of our performance, the organization and how we responded to the sudden arrival of COVID-19 in 2020.”

Featured photo: P&Q Staff