Save to read list Published by Alfie Lloyd-Perks, Assistant Editor World Cement, Friday, 24 April 2026 08:19

Cemex announce its results for the first quarter of 2026, reporting strong performance supported by its disciplined execution of its transformation plan.

EBITDA reached a record US$794 million, increasing 34% year-over-year driven by operational efficiencies, pricing strategy, operating leverage and stronger FX. EBITDA margin expanded by 3.3 percentage points to 19.8%, with most regions contributing. Free Cash Flow from Operations grew at a multiple of EBITDA growth, improving by nearly US$300 million, and reached US$29 million in a quarter that has historically generated negative cash flow.

Despite adverse weather in the US and Europe, Net sales increased 3% on a like-to-like basis, supported by cement volume recovery in Mexico and disciplined pricing strategy. This stable top-line performance translated into a 40% like-to-like increase in EBIT, underscoring the leaner cost base and structural improvements in earnings quality. Adjusting for the one-off prior year gain from the sale of our Dominican Republic operations, Net Income would have nearly doubled in the quarter.

Cemex continued advancing its transformation plan during the quarter. Project Cutting Edge delivered approximately 45% of incremental like-to-like EBITDA in the quarter due to a leaner cost structure and improved operating efficiency. The company also progressed on its portfolio rebalancing strategy, with an agreement to divest selected assets in Colombia and completing the acquisition of Omega, a leading stucco and mortar business in the Western United States, enhancing its growth platform in less volatile higher-return markets.

“I am very pleased with our first-quarter results, which reflect the ongoing benefits of our transformation and a structurally stronger Cemex with a more resilient earnings profile,” said Jaime Muguiro, CEO of Cemex. “Despite the uncertain global backdrop, our self-help measures under Project Cutting Edge that we have put into place coupled with strong first quarter results, give me confidence on our full-year high-single-digit EBITDA growth guidance.”

Regional performance reflected broad-based strength. Mexico delivered strong EBITDA growth and margin expansion, supported by continued volume recovery, operational efficiencies, and pricing. The US showed resilience despite adverse weather, with growth in ready-mix and aggregates volumes and continued benefits from Project Cutting Edge. EMEA reported double-digit EBITDA growth driven by cost discipline and pricing, while South, Central America, and the Caribbean achieved double-digit EBITDA growth supported by higher volumes and ongoing transformation benefits.

Cemex also made important progress on its key priority of boosting shareholder return. During the quarter, Cemex repurchased approximately US$100 million in shares, and shareholders approved a nearly 40% increase in the annual dividend.

Read the article online at: https://www.worldcement.com/the-americas/24042026/cemex-reports-record-first-quarter-ebitda/