Cemex experiences third-quarter 2020 improvements

Gonzalez

Cemex’s third-quarter aggregate volumes in the U.S. rose 2 percent compared to the prior-year period, while aggregate pricing in the U.S. market dipped 3 percent.

According to Cemex, its U.S. business maintained strong momentum in the third quarter thanks to a pickup in residential activity and growth in the infrastructure sector.

All of the company’s U.S. operations reported net sales of $1 billion, an increase of 1 percent from the same period in 2019. Operating EBITDA (earnings before interest, tax, depreciation and amortization) increased by 7 percent to $199 million versus the same quarter of 2019, Cemex adds.

“We are pleased with our performance in the third quarter in which all regions participated in earnings recovery,” says Fernando González, CEO of Cemex. “Indeed, during the quarter, we experienced EBITDA recovery from the second-quarter decline, due to COVID-19, as well as strong year-over-year growth. Operation resilience played a key role in this performance.”