Mexican cement maker Cemex reported on Monday, October 26, 2026, controlling-interest net income of $407 million for the third quarter, 55% more than in the same period of 2025. Net sales grew 8% to $4.59 billion, above the $4.45 billion analysts had expected and up from $4.25 billion a year earlier.
Adjusted earnings came to $0.28 per ADS, four cents above consensus. The shares rose about 3% on the day, after gaining 2.84% in pre-market trading.
A fifth straight quarter of double-digit EBITDA growth
Operating EBITDA reached $990 million, up 12% year on year and the fifth consecutive quarter of double-digit growth in that measure. The margin widened by 0.8 percentage points to 21.6%, helped by pricing, lower energy costs in cement and better profitability at the Urbanization Solutions business. Operating earnings before other expenses (EBIT) rose 19%.
Free cash flow from operations was $723 million, up 34% and the most the company has ever generated in a third quarter. Year to date it stands at $1.4 billion, a 194% jump, with cash conversion of 60% over the trailing twelve months. Net debt closed September at $5.42 billion, down from $5.59 billion a year earlier.
Mexico drives the quarter; the United States drags
Mexico contributed $480 million in operating EBITDA, up 30%, on a 7% rise in cement volumes and savings credited to the internal efficiency programme the company calls Project Cutting Edge.
The United States went the other way: cement and aggregates volumes rose 4% and sales 5%, but operating EBITDA fell 4% to $259 million because of an unplanned outage at a plant and higher raw material costs. Europe, the Middle East and Africa added $257 million, up 4%, on better pricing and operational improvements that partly offset energy costs. In South and Central America and the Caribbean, the company credited demand in Colombia and Jamaica.
Asset sales and talks in France
Cemex is still pruning its portfolio under the same efficiency programme. During the quarter it closed the sale of its ready-mix and recycled concrete operations in Atlanta and signed a long-term cement and admixtures supply agreement with the buyer, an arrangement that lets it exit the asset without losing the customer.
The company also entered exclusive negotiations with France's Vicat Group over selected ready-mix and aggregates assets in southeastern France. Divestments completed and announced since the programme began account for more than $200 million in expected proceeds and over 140 facilities.
Chief Executive Jaime Muguiro credited the quarter's performance to the factors the company controls and to continuous improvement, in what he described as a difficult economic environment.
With information from Investing.com and IndexBox.
