Cemex reports first-quarter 2019 results

Gonzalez

Aggregate and ready-mixed concrete volumes in the United States grew in the first quarter of the year at Cemex despite adverse weather, the company reports.

On a like-to-like basis for ongoing operations and adjusting for foreign exchange fluctuations, Cemex’s consolidated net sales increased by 1 percent, reaching $3.2 billion during the first quarter of 2019 versus the comparable period in 2018.

Additionally, operating earnings before interest, tax, depreciation and amortization (EBITDA) decreased 3 percent on a like-to-like basis during the first quarter to $562 million on a year-over-year basis.

“We are pleased with the 1 percent top-line growth we achieved during the first quarter, despite important volume declines in our two most important markets: Mexico and the U.S.,” says Fernando Gonzalez, CEO of Cemex. “During the quarter, we enjoyed improved pricing performance in all our regions with favorable volume dynamics in Europe.”

Cemex’s operations in the United States reported net sales of $878 million in the first quarter, an increase of 3 percent from the same period in 2018. Operating EBITDA in the U.S. decreased by 1 percent to $130 million from the same quarter of 2018.