Cemex reported its second-quarter 2024 financial results, noting that net sales in the U.S. were down 2 percent to $1.39 billion.
Cemex’s EBITDA in the U.S. also dropped 2 percent to $297 million.
Globally, Cemex says its quarterly net sales were flat compared to the second quarter of 2023. Global net sales at Cemex totaled $4.49 billion in the second quarter.
The company says difficult weather conditions in key markets contributed to its results, although pricing momentum offset some of the impact.
Also globally, Cemex’s EBITDA was up 2 percent to $965 million, and its EBITDA margin rose to its highest level since 2016.
“Our strong second-quarter results demonstrate the efficacy of our commercial approach and growth strategy,” says Fernando González, CEO of Cemex. “Pricing contribution of our products continues to exceed decelerating input cost inflation, while our bolt-on investments, mainly in the U.S., and our Urbanization Solutions business, continued to support EBITDA growth.”
