Cemex Falls Most Since 2020 on Earnings Miss, Lower Outlook [Yahoo! Finance Canada]
Cemex, S.A.B. de C.V. Sponsored ADR (CX)
US:NYSE Investor Relations:
cemex.com/investors/overview
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Source: Yahoo! Finance Canada
reducing its outlook for the current year and posting weaker-than-expected net revenue in the third quarter. Most Read from Bloomberg Third-quarter revenue was $4.09 billion, according to a filing Monday, below the average analyst estimate. Operating Ebitda, a measure of earnings that excludes items such as interest and taxes, also missed estimates. Cemex was hurt by adverse weather in the US and its domestic market, the company said. The Monterrey, Mexico-based company also revised its Ebitda guidance, with weaker forecasts for the US and Mexico. The shares fell as much as 10% to 10.75 pesos, the most intraday since June 2020. The move brought the stock's year-to-date decline to about 18%. Cemex, which is one of the world's largest cement producers, has tried to ramp up prices across the board even as volumes dwindle in some of its largest markets. The company has also been restructuring operations to sharpen its focus on priority markets such as the US. In August, Cemex
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- CEMEX, S.A.B. de C.V. (NYSE: CX) was downgraded by analysts at Royal Bank of Canada from a "sector perform" rating to an "underperform" rating. They now have a $5.00 price target on the stock, down previously from $6.00.MarketBeat
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CX
Sec Filings
- 12/9/24 - Form 6-K
- 12/3/24 - Form 6-K
- 12/2/24 - Form 6-K
- CX's page on the SEC website