Cemex sales grow 8 percent in third quarter 2018

Gonzalez

Cemex released its third-quarter report for 2018, which highlighted an 8 percent growth in sales – the highest growth in a single quarter for the company since the first quarter of 2014.

Consolidated net sales increased 8 percent compared to the same period in 2017 to $3.7 billion. The increase in quarterly consolidated net sales was due to higher prices of company products, as well as higher volumes in the United States, Mexico, Europe, Asia, Middle East and Africa regions, according to the company.

Operating earnings before interest, tax, depreciation and amortization (EBITDA) increased 2 percent during the third quarter of 2018, totaling $704 million compared with the same period last year. In addition, operating earnings before other expenses, net, in the third quarter increased 2 percent to $490 million on a like-to-like basis.

Cemex operations in the United States reported net sales of $999 million in the third quarter, according to the company, an increase of 11 percent on a like-to-like basis from the same period last year. Operating EBITDA increased by 12 percent on a like-to-like basis to $178 million compared to the same period in 2017.

“We are very encouraged by our favorable results during the quarter, with top-line growth of 8 percent on a like-to-like basis, and operating EBITDA increasing by 2 percent,” says Fernando Gonzalez, CEO of Cemex. “These results were underpinned by healthy volume and pricing dynamics in our three core products in most of our portfolio. We are pleased with our operations in Mexico and the United States, with strong growth in year-over-year volumes for our three core products and improved prices.”

Controlling interest net income during the third quarter was $174 million, compared with an income of $289 million during the same period in 2017.