CEMEX, S.A.B. de C.V. (NYSE:CX) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
CEMEX, S.A.B. de C.V. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.00 in the quarter versus EPS of $-0.16 in the year-earlier quarter.
Revenue: Rose 3.92% to $4 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CEMEX, S.A.B. de C.V. reported adjusted EPS of $0 per share. By that measure, the company beat the mean analyst estimate of $-0.01. It beat the average revenue estimate of $3.97 billion.
Quoting Management: Fernando A. González, Executive Vice President of Finance and Administration, said: “We are pleased to report that this is the eighth consecutive quarter with year-over-year improvement in EBITDA. We also saw an increase in our consolidated prices in local-currency terms for cement, ready mix and aggregates during the quarter. On the cost side, our alternative fuel substitution initiatives remain a very high priority. On a consolidated basis, our alternative fuel utilization reached 28% during the quarter. In addition, we are implementing targeted cost-reduction initiatives in Mexico and Northern Europe which we expect will result in savings of about US$100 million during the second half of 2013.”
Key Stats (on next page)…