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CEMEX, S.A.B. de C.V.

$0.95▼ 2.06%($-0.02)

MKT CAP $14.36BNEXT EARNINGS Oct 26, 2026

50%

Bullish

50%

Bullish

TickerSpark Score

65/100

▌ Solid

84

Valuation

65

Profitability

80

Growth

64

Health

30

Momentum

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Analyst RatingHold

8 Buy11 Hold1 Sell

Price Chart

+5.53% · this period

52-Week Range11% of range

Low

$0.90

Current

$0.95

High

$1.35

Earnings Calls · CXMSF

Earnings call summaries

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CEMEX reported a strong second quarter, with EBITDA above $1 billion, margin expansion, and raised full-year EBITDA guidance as Project Cutting Edge and pricing gains continue to drive cash flow.· July 23, 2026

Key Takeaways

Consolidated EBITDA exceeded $1 billion, helped by a $42 million one-off Europe settlement; adjusted EBITDA grew 19% and adjusted EBITDA margin rose to 21.4%.
Free cash flow from operations hit a second-quarter record of $651 million, and trailing-12-month conversion reached 60% on an adjusted basis.
Project Cutting Edge savings are ahead of plan: the company raised its total savings target from $400 million to $475 million, with most of the incremental savings expected in 2027.
Mexico remained the standout region, while the U.S. was pressured by Texas weather and higher materials/freight costs, and Europe saw softer demand offset partly by pricing and savings.
Management raised full-year EBITDA guidance to 16% to 17% year-over-year growth and expects lower interest expense and stronger free cash flow.
results":"The company reported consolidated EBITDA above $1 billion in the quarter, including a favorable one-off Europe settlement of $42 million. Adjusting for the one-off, sales grew 11%, EBITDA expanded 19%, and EBIT grew 29%; adjusted EBITDA margin increased 1.4 percentage points to 21.4%, and EBIT margin rose almost 2 percentage points. Free cash flow from operations reached a second-quarter record of $651 million, up more than $400 million year over year after adjusting for severance and discontinued operations, and trailing-12-month conversion was 60% on an adjusted basis. On a like-to-like basis, EBITDA rose 18%, supported by $60 million of Project Cutting Edge efficiencies and organic growth in most regions. Management raised the full-year EBITDA growth outlook to 16% to 17% year over year, based on a second-half peso FX assumption of MXN 18.25 to MXN 18.50; it also said energy costs in cement are now expected to increase by only a low single-digit percentage versus last year, and interest paid plus coupons on subordinated notes is expected to decline by about $40 million versus last year to about $455 million for the full year."
ceo":"The CEO framed the quarter as evidence that the transformation is working, emphasizing better earnings quality, higher margins, and stronger cash generation. He said Project Cutting Edge is uncovering new opportunities and that the company is now raising its savings target because the original $400 million goal is already 80% achieved. His tone was confident but still cautious, repeatedly noting that macro volatility remains and that more work is needed to fully realize the transformation plan.","cfo":"The CFO highlighted stronger cash conversion and balance-sheet actions, pointing to EBITDA above $1 billion, EBITDA margin up 2.1 percentage points to its highest level since 2008, and first-half free cash flow from operations up by more than $730 million to $666 million. He said cost of sales and operating expenses as a percentage of sales fell 106 basis points and 167 basis points year over year, energy cost per ton of cement produced declined 6%, and diesel hedging offset $32 million of diesel costs year to date, with about 80% of 2027 diesel consumption hedged. He also detailed liability management steps: repayment of about $1.5 billion of term loans, redemption of $1 billion of subordinated notes, issuance of $1.5 billion of 10-year senior notes at 5.75%, a new $3 billion revolver, and an expectation that net debt plus subordinated notes will end the year below year-end 2025 levels."
qanda":"Analysts focused on the new savings target, Mexico’s sustainability, Europe’s margin outlook, the U.S. second-half setup, and the AI/data-center opportunity. Management said the $475 million savings target is split between about $230 million of overhead reduction and $245 million of operating efficiencies, with most incremental savings arriving in 2027; it also said asset pruning, procurement changes, and AI are all part of the longer-term plan. On Mexico, management said margins should ease somewhat in the second half because of temporary competitor outages, a less favorable mix, maintenance outages, and less energy tailwind, but volumes should remain supported by social housing and infrastructure. On Europe, management said the weather and a $6 million write-off hurt margins, but Project Cutting Edge savings are flowing and the EU ETS proposal is viewed as supportive of pricing and value creation. On the U.S., management said pricing actions are sticking but margins were hit by Texas weather, aggregates disruption, and import timing, while it expects better second-half margins absent major hurricane impacts."
bull":"The call showed broad evidence that self-help is translating into profit and cash: higher EBITDA, expanding margins, a record second-quarter free cash flow result, and a 60% adjusted conversion rate. Management also sounded increasingly confident about longer-term upside from Project Cutting Edge, asset pruning, AI, and pricing power, while raising both the savings target and full-year EBITDA guidance.","bear":"Management acknowledged several headwinds: softer demand and weather disruptions in Europe, Texas-related operational issues in the U.S., and expected normalization of Mexico’s unusually strong second-quarter momentum. They also flagged geopolitical and cost uncertainty, including the Iran war, higher carbon costs in Europe, and less favorable fuel costs in the second half, plus the possibility of new capacity returning in Mexico."}]}

AI summary of the company's earnings call · Paraphrased · Not investment advice

CEMEX, S.A.B. de C.V.

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