Santander: Cemex may report earnings decline

Santander: Cemex may report earnings decline
Published: 18 March 2009

Cemex probably will report more than 25 percent drops in first-quarter sales and EBITDA, Banco Santander SA wrote.

“We are forecasting continued weakness in operating results affected by the slowdown in construction activity in most of Cemex’s markets and the weakness of the Mexican peso, the British pound and the euro against the US dollar,” analyst Gonzalo Fernandez wrote in a note to clients today.

Cemex may report a 29 per cent decline in first-quarter sales and a 26 per cent fall in EBITDA when it discloses preliminary results March 19, Fernandez wrote.

Source: Bloomberg News