Mexico’s Cemex beats expectations with first quarterly profit since 2009

By |  July 21, 2014

Mexico’s Cemex reported a second-quarter profit of $76 million, its first quarterly profit since the financial crisis in 2009.

Cemex, one of the world’s largest cement companies, beat analysis expectations of a $79 million loss. A gain on derivatives tied to Cemex’s share price and a pickup in cement sales in many of its markets contributed to the company’s profit.

Cemex also reported a core profit of $737 million, which is up $7 million from the year-earlier period, with net sales totaling $4.2 billion, a 4 percent increase from the April-June period last year.

According to an article in CNBC, Cemex’s stock also rose 9.5 percent in the second quarter, giving the company $76.9 million gain from its derivative position.

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Allison Barwacz

About the Author:

Allison Barwacz is the digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.

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