Cemex is among the first public producers to report its second-quarter financial results, detailing that sales and operating EBITDA (earnings before interest, tax, depreciation and amortization) in the U.S. each dipped 6 percent.
Globally, Cemex’s second-quarter sales declined 5 percent while EBITDA shifted downward 11 percent.
The company’s first-half global sales were down 6 percent while EBITDA dropped 14 percent from January to June.
“As we began the implementation of our strategic framework, we moved quickly in the second quarter to transform our corporate structure introducing a new operating model to streamline overhead, foster agility and empower our regional teams to drive results,” says Jaime Muguiro, CEO of Cemex. “This process entailed difficult decisions, but necessary ones to support the company’s long-term growth and competitiveness. I am confident that this transformation will help us advance towards our goals of achieving operational excellence and sustainable best-in-class shareholder return.”
Related: TACA meeting highlights future of industry in Texas
