CX - CEMEX S.A.B. de C.V. (CX) Q1 2024 Earnings Call Transcript
2024-04-25 18:34:08 ET
CEMEX, S.A.B. de C.V. (CX)
Q1 2024 Earnings Conference Call
April 25, 2024 11:00 AM ET
Company Participants
Lucy Rodriguez - Chief Communications Officer
Fernando Gonzalez - Chief Executive Officer
Maher Al-Haffar - Chief Financial Officer
Conference Call Participants
Alejandra Obregon - Morgan Stanley
Pablo Ricalde - Santander
Adrian Huerta - JPMorgan
Alberto Valerio - UBS
Yassine Touahri - On Field Research
Anne Milne - Bank of America
Gordon Lee - BTG
Presentation
Operator
Good morning. Welcome to the CEMEX First Quarter 2024 Conference Call and Webcast. My name is Elliot, and I'll be your operator for today. At this time, all participants are in listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions].
And now I will turn the conference over to Lucy Rodriguez, Chief Communications Officer. Please proceed.
Lucy Rodriguez
Good morning. Thank you for joining us today for our first quarter 2024 conference call and webcast. We hope this call finds you in good health. I am joined today by Fernando Gonzalez, our CEO; and Maher Al-Haffar, our CFO. As always, we will spend a few minutes reviewing the business, and then we will be happy to take your questions. And now I will hand it over to Fernando.
Fernando Gonzalez
Thanks, Lucy, and good day to everyone. I am pleased with our first quarter results, which outperformed our expectations underlying our 2024 guidance. In fact, EBITDA represents a first quarter record for the company. Despite fewer working days and difficult weather conditions in many markets, EBITDA grew 5%.
Three of our four regions markets accounting for 90% of consolidated EBITDA, experienced a combined growth rate of 15%. Mexico deserves special mention, setting a record in terms of quarterly EBITDA generation. EBITDA margin expanded year-over-year and sequentially, driven by a favorable price cost dynamic. Our prices rose mid-single digits, while input cost inflation slowed....
CEMEX, S.A.B. de C.V. (CX) Q1 2024 Earnings Call Transcript