CX - Cemex Q4 net profit surges but below analyst consensus
Cemex (NYSE:CX) -2.9% pre-market after Q4 nearly tripled its Q4 net profit to $195M, or $0.15/ADR share, while operating EBITDA rose 3% Y/Y to $651M, but both figures were below analyst consensus estimates of $224.2M and $681.4M, respectively. Q4 revenues rose 3% Y/Y to $3.62B, with the company citing higher local currency prices in all regions as contributing to top line growth. Q4 cement sales by volume fell 5% to 16.5M metric tons, ready mix concrete volume rose 1% to 12.5M cm, and aggregates volume came in roughly flat at 34.8M mt. Q4 Mexico sales rose 1% Y/Y to $841M while domestic gray cement volumes fell 4%; U.S. sales jumped 8% to $1.1B while volumes were flat; Europe, Middle East, Africa and Asia sales gained 1% to $1.2B while volumes fell 5%. For FY 2022, Cemex said it expects cement sales by volume to be flat, with single-digit increases in
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Cemex Q4 net profit surges but below analyst consensus