CEMEX, S.A.B. de C.V. Q3 2026 Earnings Recap

CEMEX shares rose 3.4% after the results, which showed 8% sales growth and double-digit EBITDA and EBIT increases alongside improving cash generation. The gains were supported by pricing, higher cement volumes and transformation savings, though costs began rising year over year and price performance was mixed by market.

Key Takeaways

• Net sales increased approximately 8%; EBITDA rose 12% and EBIT 19% year over year, marking a fifth consecutive quarter of double-digit growth in both.
• Consolidated cement volumes grew 3%, while prices for the three core products increased by a low single-digit percentage year over year. Sequential cement pricing reflected mix effects and price erosion in some markets.
• Project Cutting Edge contributed approximately $60 million in incremental quarterly savings. Pricing remained the main contributor to EBITDA growth and offset higher costs, including maintenance and distribution.
• Total costs increased year over year for the first time in six quarters, reflecting a pickup in inflation. Management expects higher energy costs in 2027, which it aims to mitigate through pricing.
• Trailing 12-month adjusted free cash flow from operations reached a record $2.2 billion, with a conversion rate of approximately 62%; year-to-date free cash flow from operations was up more than $900 million year over year.