Cemex Rises as Profitability Gains Help Offset Sales Miss
- Company says it was able to lift prices in its biggest markets
- Second-quarter sales fell short on poor weather, weaker peso
Cemex cement bags at a wholesale warehouse in Mexico City.
Photographer: Jeoffrey Guillemard/BloombergThis article is for subscribers only.
Shares of Cemex SAB de CV rose on Thursday after the Mexican cement maker posted better-than-expected operating income, outweighing a sales miss due to poor weather in its largest market and a weaker peso.
Operating income in the second quarter was $665.9 million, according to a Thursday filing, above the average estimate of $615.2 million compiled by Bloomberg. The Monterrey, Mexico-based company said its Ebitda margin, a measure of profitability that excludes items such as taxes and interest, was the highest since 2016, propelled by higher prices.