Cemex provides details about its first quarter

By |  May 3, 2023

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Cemex offered a few details about its first-quarter 2023 performance this week, noting that its operations in the U.S. reported a record EBITDA (earnings before interest, tax, depreciation and amortization) with growth of 15 percent.

The growth occurred despite weather challenges that impacted most Cemex markets, the company says.

Additionally, Cemex’s first-quarter net sales in the U.S. increased 5 percent to $1.25 billion.

“I am quite pleased with our first-quarter growth achieved against a backdrop of challenging weather in our footprint in the U.S. and a strong prior-year comparison base,” says Fernando González, CEO of Cemex. “I believe this quarter marks an important inflection point in our mission to recover 2021 margins and compensate for the steep cost inflation we’ve experienced over the past two years.

Globally in the first quarter, Cemex says sales grew 9 percent with EBITDA expanding by 6 percent. The company says the results are attributable to pricing, decelerating input cost inflation, and contributions from investments and Cemex’s Urbanization Solutions business.

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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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