Cemex third quarter loss expected to narrow

Cemex is expected to post a narrower third quarter loss for the July-September period of 2013 led by a pick-up by US sales, the company’s biggest market.

According to a Reuters' survey of six analysts, the Mexican cement major is expected to report a loss of US$22m compared with a loss of US$203m a year earlier. An increase in US sales is expected to offset weak performances in Europe and Mexico, the news agency said. Analysts expect third-quarter results to show that Cemex sold more cement at higher prices in the US, while sales in Mexico are expected to have declined on lower government infrastructure spending as well as due to heavy rains last month.

Earlier this year, Cemex said it expects the USA to show the best volume growth in 2013 following a three per cent rise in cement shipments in the first half, with average prices four per cent higher. The company is forecasting its US cement volumes to increase by a mid- to high-single figure this year and that ready-mixed concrete volumes will somewhat grow faster than this.

Cemex will announce its third quarter/half-year 2013 results on Thursday, 24 October 2013.