CEMEX reports positive like-for-like results in US
Published by Jonathan Rowland,
CEMEX reported generally positive like-for-like results in 4Q17 from its US operations, despite the ongoing impacts of bad weather in the markets it serves.
The company saw a rise in like-for-like sales of cement of 5% during 4Q17, according to its fourth quarter results statements. Like-for-like sales exclude volumes related to cement plants that the company sold over the period. Volumes for ready-mixed concrete and aggregates were also up on a like-for-like basis in 4Q17.
“Volumes for our three core products increased during the quarter on a like-to-like basis, despite significant precipitation in much of our footprint and the lingering impact of the hurricane in Florida in our operations,” CEMEX said.
Although housing starts remained flat overall in the quarter, cement demand was supported by a 7% increase in starts in the cement-intensive single-family sector, supported by a catch-up from the hurricanes during 3Q17. Contract awards in the industrial and commercial sectors were also up 4% in CEMEX’s four key states, driven by Florida and Texas, and despite a 1% fall nationwide.
Net sales were up 4% on a like-for-like basis in the quarter at US$838 million. Over the year, like-for-like sales were up 3% at US$3.484 billion, while cement volumes rose 2% on a like-for-like basis over the year.
Read the article online at: https://www.worldcement.com/the-americas/15022018/cemex-reports-positive-like-for-like-results-in-us/
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