CXMSF - CEMEX S.A.B. de C.V. (CX) Q2 2024 Earnings Call Transcript

2024-07-25 18:37:05 ET

CEMEX, S.A.B. de C.V. (CX)

Q2 2024 Earnings Conference Call

July 25, 2024 11:00 AM ET

Company Participants

Lucy Rodriguez - Executive Vice President of Investor Relations, Corporate Communications and Public Affairs

Fernando Gonzalez - Chief Executive Officer

Maher Al-Haffar - Chief Financial Officer

Conference Call Participants

Alejandra Obregon - Morgan Stanley

Benjamin Theurer - Barclays

Paul Roger - Exane BNP Paribas

Carlos Peyrelongue - Bank of America

Yassine Touahri - On Field Research

Alberto Valerio - UBS

Jorel Guilloty - Goldman Sachs

Marcelo Furlan - Itau

Presentation

Operator

Good morning, and welcome to the CEMEX Second Quarter 2024 Conference Call and Webcast. My name is Drew, and I'll be your operator for today. At this time, all participants are in a 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 second quarter 2024 conference call and webcast. We hope this call finds you in good health. I'm 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'll hand it over to Fernando.

Fernando Gonzalez

Thanks, Lucy, and good day to everyone. I'm pleased with our second quarter results, where EBITDA grew year-over-year despite significant weather challenges in several key markets. Even with the decline in volumes and a strong prior year comparison, EBITDA margin expanded to the highest levels of the last three years, marking five consecutive quarters of expansion. Our pricing strategy adjusting to reflect decelerating cost inflation continue to pay off with a widening price to cost ratio. Bolt-on growth investments, mainly in the U.S. and our urbanization solutions business continued to support EBITDA growth....

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