CEMEX, S.A.B. de C.V. delivered strong Q3 '25 results with record margins, driven by robust pricing despite weak volumes in key markets, Mexico, and the U.S. CX's profitability gains stem from effective pricing, cost controls, and fuel tailwinds, but volume weakness remains a concern, especially in North America. Valuation appears elevated at 15x earnings and 20x FCF, with current pricing power...
Cemex is building a global, low-carbon platform with strong pricing power and operational discipline. Margins remained solid in Q2 2025 despite weather impacts, weaker demand, and tough comps. Valuation remains disconnected from fundamentals, trading below 6x EV/EBITDA and under book value.
CEMEX, S.A.B. de C.V.'s Q2 '25 results reveal worsening volume declines in Mexico and the US, signaling a negative turn in the cement cycle. Despite resilient EBITDA margins, aggregate operating EBITDA fell 11% due to falling sales in core geographies. Management remains conservative on capital allocation, prioritizing ROIC and shareholder returns, with no aggressive growth or acquisitions plan...
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