Cemex stock: Third-quarter cash flow nearly triples year to date

Published on 11/04/2026 at 12:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cemex stock reflects stronger third-quarter margins and cash generation after results released on October 26. Management retained its full-year EBITDA outlook.

Third-quarter performance strengthens

Cemex increased third-quarter sales by 8 percent and operating EBITDA by 12 percent year over year.
Mexico led regional earnings growth, while United States operating EBITDA declined.
Management maintained its full-year EBITDA growth outlook and expects higher energy and maintenance costs in the fourth quarter.

CX, MXP225611567, Illustration mit AI erstellt.

Cemex reported stronger third-quarter operating performance on October 26, with higher sales, expanding margins and a sharp improvement in operating free cash flow. The company said its Project Cutting Edge transformation program continued to lift efficiency and earnings quality.

According to Cemnet, third-quarter revenue rose 8 percent year over year to USD 4.59 billion. Operating EBITDA increased 12 percent to USD 990 million, while the EBITDA margin widened to 21.6 percent from 20.8 percent. Net income attributable to controlling shareholders advanced 55 percent to USD 407 million.

Cash generation drives earnings quality

Operating free cash flow reached a third-quarter record of USD 723 million, up 34 percent from a year earlier. For the first nine months, operating free cash flow increased 194 percent to USD 1.4 billion. Management linked the improvement to higher EBITDA, lower maintenance capital expenditure, reduced interest costs, lower working-capital investment and proceeds from asset sales.

The company also reported progress on its asset-pruning program. Cemex completed the sale of ready-mix and recycled-concrete assets in the Atlanta region and entered exclusive negotiations with Vicat for selected ready-mix and aggregates assets in southeastern France. Completed and announced disposals since the program began exceed USD 200 million, according to Cemnet.

Mexico leads regional performance

Mexico was the strongest regional contributor during the quarter. Operating EBITDA there rose 30 percent to USD 480 million, supported by recovering cement demand and cost efficiencies. In the United States, sales increased 5 percent, but operating EBITDA declined 4 percent to USD 259 million. Earnings in Europe, the Middle East and Africa increased 4 percent to USD 257 million as pricing and efficiency gains offset higher energy costs.

On the earnings call, Chief Executive Jaime Muguiro said the company had delivered its fifth consecutive quarter of double-digit EBITDA and EBIT growth. The earnings call transcript shows that management expects full-year EBITDA growth of 16 to 17 percent. Cemex also expects higher energy and maintenance costs in the fourth quarter, but continues to target a stronger structural margin profile.

At 12:36 CET on Wednesday, November 4, 2026, Cemex stock traded at 0.96 euros on Lang & Schwarz. Investors can follow the real-time quote of Cemex stock.