This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CEMEX, S.A.B. De C.V. Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: CX

In addition to that and in order to address the value of our services, we will charge for special services according to pay-per-use principal. To adapt to market dynamics, pricing cycles will be revised. A close price follow-up will ensure a consistent approach throughout the organization.

A revision of the sales reward systems and training program is launched in order to support the implementation. On the financing side, we have announced an exchange offered and consent request to the participants under the financing agreement, which will expire on August 20.

Some of the key elements of this offer are: a 3-year extension of the final maturity until February 2017; the offer includes an exchange of up to $500 million into new high-yield bonds maturing in June 2018; an upfront fee and revised margin; a $1 billion pay down in March 2013; an enhanced guarantor package and revised operational and financial covenants.

It is too early to provide feedback on this process, but as you know, we have long-standing relationships with the participants in the financing agreement, and this has been noticeable in the conversations that we have been having with them. We continue to maintain sufficient liquidity to support our operations and expect to remain in compliance with our financial obligations.

Our consolidated funded debt-to-EBITDA ratio as of the end of June was 6.15x, well inside the covenant [ph] level. We remain focused on our transformation program. We continue to anticipate an incremental improvement of $200 million in our steady-state EBITDA during 2012.

During the first half of the year, we achieved about $180 million of this improvement. We expect to reach the run rate of $400 million by the end of the year. Another important driver of our transformation process is our efforts to increase the use of alternative fuels. The substitution rate will reach 26% during the second quarter and 29% during the month of June.

3 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs