The following is a summary of the CEMEX, S.A.B. De C.V. (CX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• CEMEX reported strong Q1 results, outperforming expectations with a record quarterly EBITDA growth of 5%.

• Financial growth was predominantly driven by growth in three of their four regional markets, giving a combined growth rate of 15%.

• Net income growth was at 13%, with a newly acquired investment-grade rating of BBB- from Standard & Poor.

• The company successfully refinanced their Eurobank facility, leading to EBITDA margin expansion year-on-year and sequentially.

Business Progress:

• CEMEX has agreed to divest their assets in the Philippines for an enterprise value of $800 million, with proceeds aiding their U.S. growth strategy.

• Despite volume declines, CEMEX increased net sales by 3% in the U.S., signaling effective capitalizing on market opportunities.

• The company successfully reduced their CO2 emissions by 13%, aligning with their sustainable growth strategy.

• Several projects showing a volume decline are recovering sequentially, and sustained growth is seen in aggregate volume in the U.S. due to increased sales of base materials.

• The company is developing carbon capture and storage projects as part of their 'Future in Action' strategy, aiming at reducing carbon emissions by almost 50% by 2030.

• CEMEX expects stable volumes in Mexico and improvements in Europe despite external circumstances. They also expect the French Olympics to support construction activities.

More details: Cemex IR

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