CEMEX, S.A.B. de C.V. (CX) Q1 2025 Earnings Call Transcript

2025-04-28 14:57:07 ET

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

Q1 2025 Results Conference Call

April 28, 2025 11:00 AM ET

Company Participants

Lucy Rodriguez - Chief Communications Officer

Jaime Muguiro - Chief Executive Officer

Maher Al-Haffar - Chief Financial Officer

Conference Call Participants

Adrian Huerta - JPMorgan

Francisco Suarez - Scotiabank

Gordon Lee - BTG Pactual

Anne Milne - Bank of America

Yassine Touahri - On field

Alejandra Obregon - Morgan Stanley

Ben Theurer - Barclays

Carlos Peyrelongue - Bank of America

Jorel Guilloty - Goldman Sachs

Presentation

Operator

Good morning. Welcome to the CEMEX First Quarter 2025 Conference Call and Webcast. My name is Bailey, 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 and thank you for joining us for our first quarter 2025 conference call and webcast. We hope this call finds you well. We have several changes to talk about on this quarterly call, beginning, of course, with the appointment of our new CEO. In February, our Board of Directors appointed Jaime Muguiro as Chief Executive Officer, effect April 1.

This appointment is part of a planned leadership transition following our former CEO Fernando Gonzalez's decision to retire after a successful career at CEMEX. Jaime has almost three decades of experience at CEMEX, where he has held senior executive positions in different regions. Most recently, he served as President of CEMEX in the United States.

Additionally, we have new regional presidents who are bringing extensive experience and new eyes to our operations. We have also made some changes to our quarterly documents, moving our free cash flow disclosure closer to a cash basis as well as providing more detailed sources and uses information.

Starting this quarter, we are reporting price variations for our products on an FOB basis. We believe this is more reflective of actual pricing dynamics as well as industry practice. In March, we published our 2024 integrated report discussing our strategy, ESG efforts and metrics as well as financial performance. I encourage you to review it on our website....

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