Cemex experiences third-quarter 2019 growth in the US

By |  October 24, 2019
Photo: Zach Mentz

Cemex’s Balcones Quarry in Texas is a tremendous driver of the company’s aggregate sales in the United States. Photo by Zach Mentz

Cemex’s operations in the United States reported net sales of $1.04 billion in the third quarter of 2019, an increase of 5 percent from the same period in 2018.

The company’s operating earnings before interest, tax, depreciation and amortization (EBITDA) increased 2 percent to $205 million from $202 million in the third quarter of 2018.

Globally, Cemex reports that net sales decreased 1 percent and reached $3.5 billion in the third quarter. Operating EBITDA decreased 7 percent during the quarter to $681 million on a year-over-year basis.

“In the third quarter, our business continued to be challenging and was negatively impacted by the weaker macroeconomic conditions in several of the markets we serve,” says Fernando Gonzalez, CEO at Cemex. “In Mexico, we believe demand for our products is bottoming out and we are cautiously optimistic on renewed activity going forward given the expected announcement of a new infrastructure program.”

In the U.S., Cemex’s EBITDA improved in the third quarter as a result of favorable pricing. EBITDA improved despite weaker volumes that the company attributes to weather and competitive dynamics in some of its markets.

Kevin Yanik

About the Author:

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

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