Mexican cement maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimates of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimates of $4.19 billion, despite volumes falling in all of...

Mexican cement maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimates of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimates of $4.19 billion, despite volumes falling in all of...

Mexican cement maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimate of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimate of $4.19 billion, despite volumes falling in all of i...

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(Bloomberg) -- Cemex SAB has finally achieved what it for years called its “north star”: Investment-grade status by S&P Global Ratings.Most Read from BloombergSpaceX Starship Nears Orbit, But Is Lost Before Return to EarthMillennium Trader Scored $40 Million Windfall in Egypt FX PlungePutin Says Ukraine Deal Requires Security Pledges for RussiaBiden’s Best Shot Against Trump Lies in ‘Blue Wall’ StatesBond Yields Jump as Hot Inflation Curbs Fed Wagers: Markets WrapThe ratings company upgraded the

MONTERREY, Mexico, March 13, 2024--Rating agency Standard & Poor’s (S&P) announced today that it has upgraded Cemex’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation.

Debt issued by Mexican cementmaker Cemex was upgraded to "BBB-" by S&P Global Ratings on Wednesday, pushing the firm one notch into investment-grade territory after more than a decade of languishing in the agency's speculative grade, or junk, status. The credit ratings agency emphasized in a statement that Cemex's business strategy provides "headroom for the company to sustain the investment-grade rating through business cycles." S&P added that Cemex's priorities for this year and next should ...

Mexican cement maker Cemex will start using a new manufacturing method that will reduce its consumption of a key intermediary ingredient and cut carbon dioxide (CO2) emissions, the company said on Thursday. Scientists say the industry releases between 8% to 9% of global CO2 emissions per year, making it one of the biggest polluters. To address that, Cemex will begin a process of "micronizing," or finely grinding, its clinker, the heated mix of limestone and minerals that is an intermediary pro...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.