Loma Negra Compania Industrial Argentina Sociedad Anonima Q3 2026 Earnings Recap

Loma Negra’s third-quarter results were mixed, and the stock rose 1.9% after earnings. Lower cement volumes and a 6.7% decline in adjusted EBITDA weighed on performance, while September’s industry-demand rebound, improved cement margins and lower net debt were positives.

Key Takeaways

• Cement volume fell 6.3% year over year; consolidated revenue declined 3.2% to Ps. 170 billion.
• Adjusted EBITDA was Ps. 54.2 billion, down 6.7%, with margin contracting 74 basis points to 20.1%. Cement margins improved slightly year over year and sequentially.
• Concrete revenue fell 23.2%, reflecting a 24.9% drop in sales volume, mainly due to lower contributions from special projects and weaker public-works and industrial activity.
• Industry cement dispatches declined 3.9% for the quarter, but grew 4.5% year over year and 18% sequentially in September as weather improved.
• Net debt was $145 million, $40 million below the second-quarter level, and net debt to adjusted EBITDA fell to 1x.