Revenue grew 8% year-over-year for the company to $3.6 billion, beating the Capital IQ Consensus Estimate of $3.36 billion by $140 million. CEMEX posted an operating EBITDA of $535 million for the quarter.
The increase in revenue was thanks to higher prices of products in local currencies and higher volumes in all regions.
"We are pleased with the growth in our operating EBITDA during the quarter, on a like-to-like basis, adjusting for the seasonal maintenance and inventory-drawdown effects, which we expect will revert throughout the rest of the year," executive vice president of finance and administration Fernando A. Gonzalez said in a press release. "We also saw positive dynamics in consolidated volumes and prices for our main products."
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TheStreet Ratings team rates CEMEX SAB DE CV as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate CEMEX SAB DE CV (CX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, growth in earnings per share and increase in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."