How Cemex performed in the third quarter of 2017

By |  October 26, 2017

Cemex‘s operations in the United States reported net sales of $916 million in the third quarter, an increase of 2 percent on a like-to-like basis from the same period in 2016.

Operating EBITDA (earnings before interest, taxes, depreciation and amortization) increased 1 percent on a like-to-like basis to $160 million in the quarter, Cemex reports.

Globally, Cemex’s consolidated net sales reached $3.5 billion during the third quarter. That’s an increase of 2 percent, or an increase of 1 percent on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2016.

Also, the company’s operating EBITDA decreased 8 percent globally during the quarter to $702 million versus the same period in 2016.

According to Cemex, the increase in its consolidated net sales on a like-to-like basis was due to higher prices for products in Mexico and the U.S., as well as higher cement volumes in the U.S., Europe, and the Asia, Middle East and Africa regions.

“We are pleased with the double-digit, year-to-date growth in operating EBITDA in our two largest markets: Mexico and the U.S., which represent about two-thirds of our total EBITDA generation,” says Fernando Gonzalez, Cemex CEO. “In addition, our debt leverage during the quarter reached 3.98 times during the quarter. This is the first time that our leverage ratio falls below four times since the third quarter of 2008. This will continue contributing to further savings in our financial expenses.

“I’m particularly encouraged with our net income reaching $916 million during the first nine months of 2017,” Gonzalez adds. “This is the highest year-to-date net income in almost 10 years.”

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