Skip to main content

Mexico's Cemex missing analysts' profit expectation

Published by
World Cement,


Mexico's Cemex reported a third-quarter loss on 22 October. Analysts had expected Cemex to turn a small profit, but a cut in expenses failed to offset a drop in revenue.

Cemex shares fell by over 5% after a conference call with executives. Analysts expressed concern over the drop in revenue in the latest quarter amid currency volatility and competition, and the outlook for growth in the low-single digits.

The company lost US$44 million compared to a loss of US$106 million a year earlier, adjusted for asset sales in the quarter.

Analysts had expected the company to report a US$1 million profit, helped by lower costs and expenses.

Revenue fell 9% to US$3.7 billion, which a 10% decline in expenses to US$800 million failed to offset.


Edited from source by Joseph Green. Source: Reuters

Read the article online at: https://www.worldcement.com/the-americas/23102015/mexico-cemex-missing-analysts-profit-expectation-837/

You might also like

 

 WCT2021

WCT2021

At WCT2021 you will hear from a range of industry leaders and technical experts as they discuss the key challenges facing the cement industry and the latest solutions on offer. Register for free today »

 

CEMEX strengthens presence in Guatemala

The company has announced that, as part of its growth strategy, it will increase capacity in Guatemala with the construction of a new cement grinding mill that is expected to be completed in early 2023.

 
 

Embed article link: (copy the HTML code below):