Cemex sees 3Q sales growth at 7 per cent
Cemex said it expects third-quarter sales to grow 7 per cent to $4.6bn on stronger cement sales volumes in Mexico and Spain.
The company also forecast EBITDA of about $1.1bn and operating income of $800m. For the year, the company sees EBITDA of $4.1bn.
Cement and ready-mix sales volumes in Mexico in the third quarter are expected to rise 7 per cent and 20 per cent, respectively. Cemex sees Mexico cement volume growth of seven per cent for the year.
In the U.S., Cemex expects sales volumes from ongoing operations to fall 3 percent for cement and slide 23 per cent from ready-mix during the third quarter. However, the company sees three per cent growth in cement sales for the full year. The infrastructure, industrial and commercial sectors continue to drive cement demand in the US, offsetting the weakening residential sector.
Abroad, Cemex forecast 13 per cent growth in cement volume in Spain in the third quarter and an eight per cent decline in cement volume in the United Kingdom.
Published under Cement News
