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Pricing adjustments boost Cemex in third quarter

By |  October 27, 2022

Logo: Cemex

Net sales grew 13 percent in the third quarter at Cemex, which attributed its growth to double-digit price increases in aggregates, ready-mixed concrete and cement.

Cemex operations in the U.S. reported net sales of $1.32 billion in the quarter – an increase of 19 percent versus the third quarter of 2021. The company’s operating EBITDA (earnings before interest, tax, depreciation and amortization) increased 10 percent in the quarter to $197 million.

“Our pricing achievements this year have allowed us to more than offset inflationary costs in dollar terms, but stubbornly high inflation and supply chain headwinds have delayed our ability to regain margins,” says Fernando González, CEO of Cemex. “We are fully committed to margin recovery and will continue our efforts in fourth quarter, as well as into 2023.”

Cemex continues to focus on decarbonizing operations, as well. The company says it reduced carbon emissions by more than 8 percent since introducing a climate action plan.

“This achievement was driven by record levels of alternative fuel usage and clinker factor substitution,” González says. “Our success to date gives us confidence that a more accelerated pathway for 2030 is possible, and we have submitted our new, more aggressive goals to the science-based targets initiative to be validated for alignment with their 1.5 degrees scenario.”

Featured photo: P&Q Staff

Kevin Yanik

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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