Latest news with #JaimeMuguiro
Yahoo
30-04-2025
- Business
- Yahoo
Why CEMEX, S.A.B. de C.V. (CX) Surged on Monday
We recently published an article titled . In this article, we are going to take a look at where CEMEX, S.A.B. de C.V. (NYSE:CX) stands against the other stocks. The stock market kicked off the trading week on a mixed note, with two major indices ending in the green, as investors continued to digest more corporate earnings results. Among the bellwether indices, only the Nasdaq ended in the red, dropping 0.10 percent. In contrast, the Dow Jones grew by 0.28 percent and the S&P 500 inched up by 0.06 percent. Meanwhile, 10 companies mirrored a broader market optimism, as investors snapped up shares ahead of their first-quarter earnings performance in the next few days. To come up with the list, we considered only the companies with a $2-billion market capitalization and $5-million trading volume. A pile of cement on the top of the wheelbarrow in construction site. CEMEX, S.A.B. de C.V. (NYSE:CX) extended its winning streak for a fifth straight day on Monday, adding 4.56 percent to close at $6.19 apiece, as investors took heart from the company's strong performance and its new CEO's promise to deliver further profit growth and shareholder value. In a statement, CEMEX, S.A.B. de C.V. (NYSE:CX) CEO Jaime Muguiro said that he will focus on operational efficiency and follow a disciplined capital allocation strategy. Through the 'Project Cutting Edge' cost savings initiative, CX aims to save at least $150 million in recurrent annual EBITDA this year and $350 million by 2027. The announcement followed CEMEX, S.A.B. de C.V.'s (NYSE:CX) strong earnings performance in the first quarter of the year, with its net income soaring by 189 percent to $734 million from $254 million in the same period a year earlier, driven mainly by the sale of its Dominican Republic operations. Revenues, on the other hand, dipped by 1 percent to $3.6 billion from $3.9 billion amid higher prices that offset lower volumes. Overall CX ranks 10th on our list of the best performing stocks on Monday. While we acknowledge the potential of CX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
29-04-2025
- Business
- Yahoo
Cemex SAB de CV (CX) Q1 2025 Earnings Call Highlights: Record Net Income and Strategic ...
Net Sales: Resilient performance with pricing strategy partially mitigating volume declines in Mexico and the US. EBITDA Margin: Supported by higher prices, lower energy and freight costs, partially offset by volume impact and higher labor costs. Net Income: Record net income driven by the gain on divestment of Dominican Republic operations. Free Cash Flow: Impacted by lower EBITDA, severance payments, and discontinued operations; expected to improve throughout the year. Pricing Strategy: Cement and ready-mix prices rose 2%, aggregate prices increased by 4% sequentially. CO2 Emissions: Reduced net CO2 emissions per ton of cement equivalent by 1.6% year-over-year. Energy Costs: Declined by 17% per ton of cement, contributing to cost savings. Leverage Ratio: Stood at 1.9 times, slightly higher than December. Project Cutting Edge: Expected to realize recurring yearly EBITDA savings of at least $350 million by 2027, with $150 million expected in 2025. Urbanization Solutions Portfolio: EBITDA growth of 16% in South, Central America, and the Caribbean region, with margin expansion of more than 4 percentage points. Warning! GuruFocus has detected 3 Warning Sign with CX. Release Date: April 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cemex SAB de CV (NYSE:CX) appointed Jaime Muguiro as the new CEO, bringing nearly three decades of experience within the company. The company is implementing Project Cutting Edge, a cost savings program expected to deliver recurring yearly EBITDA savings of at least $350 million by 2027. Cemex SAB de CV (NYSE:CX) reported record net income, primarily driven by the gain on divestment of its Dominican Republic operations. The company achieved a 1.6% reduction in net CO2 emissions per ton of cement equivalent year-over-year, aligning with its decarbonization goals. Cemex SAB de CV (NYSE:CX) is focusing on enhancing shareholder returns through a balanced capital allocation policy, including potential share buybacks and progressive dividends. First-quarter results were impacted by peso depreciation, resulting in a $65 million headwind for the Mexican operations. Adverse winter conditions in the US and Eastern Europe negatively affected the company's results. The company faced a challenging demand environment in Mexico, with a significant decline in cement volumes due to a strong pre-election comparison base. Free cash flow was impacted by lower EBITDA, severance payments, and the effect of discontinued operations. The urbanization solutions portfolio experienced a 14% decline in sales, although EBITDA margin expanded slightly. Q: Jaime, could you provide more details on the cost reduction potential of Project Cutting Edge and your focus areas for geographical mix and investments? A: Jaime Muguiro, CEO: Yes, Project Cutting Edge is just the beginning. We are focusing on significant savings in supply chain, logistics, and procurement. We aim to reduce overheads and empower regions to improve margins. Geographically, we will continue focusing on Mexico, the US, and Europe, optimizing CapEx and potentially divesting assets that do not meet our return criteria. Q: Can you elaborate on how Project Cutting Edge aligns with investor interests and any specific KPIs you plan to implement? A: Jaime Muguiro, CEO: Yes, we plan to introduce EBIT free cash flow conversion and ROCE over WACC as key performance indicators. These will be integrated into executive compensation and reviewed twice a year to ensure alignment with investor interests. Q: Will there be any strategic changes in the urbanization solutions segment under your leadership? A: Jaime Muguiro, CEO: We see great potential in certain verticals like mortars, stuccos, and circularity, particularly in Europe. We aim to responsibly grow our urbanization solutions business, focusing on Mexico, the US, and Europe, and exploring light side solutions. Q: Where do share buybacks rank in your capital allocation priorities? A: Jaime Muguiro, CEO: Share buybacks are part of our toolkit, approved for up to $500 million. We aim to enhance shareholder returns through progressive dividends and opportunistic buybacks, while also focusing on deleveraging and accretive acquisitions in the US. Q: How do you plan to address the potential impact of tariffs on cement imports? A: Jaime Muguiro, CEO: We are prepared to introduce a tariff surcharge if necessary and have flexibility to switch import sources, leveraging our Mexican network. We are also improving operational efficiency in the US to reduce reliance on imports. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Reuters
28-04-2025
- Business
- Reuters
Mexican cement maker Cemex's core profits slip on weaker local market
MEXICO CITY, April 28 (Reuters) - Mexican cement maker Cemex reported an 18% dip in its core earnings for the first quarter on Monday, driven largely by headwinds in the local market. Cemex reported earnings before interest, taxes, depreciation and amortization of $601 million, in line with estimates, due to a weaker peso currency and a dip in volumes at home, it said in a filing. The peso caused a $65 million hit to EBITDA, Cemex said, while volumes dropped in Mexico due to a rush last year to finish government infrastructure projects before presidential elections. The firm expects its full-year EBITDA to come in upward of $3 billion, and held that forecast on Monday. The U.S. was Cemex's largest market by sales in the first quarter - followed by Europe, the Middle East and Africa - and then Mexico. Total sales slipped 7% to $3.65 billion, also in line with the LSEG-compiled estimate, as higher prices failed to fully offset lower volumes. Cement and ready-mix volumes ticked up slightly, though aggregates came down 4%, Cemex said. The results come after Cemex's long-time CEO Fernando Gonzalez retired at the beginning of this month, with Cemex USA head Jaime Muguiro replacing him. The firm has shifted its focus in recent years toward the U.S., selling off non-core businesses including in Guatemala, the Philippines and the Dominican Republic. In February, Bloomberg News reported that Cemex was gauging interest for a potential sale of its Colombia unit. Cemex said on Monday it was still eying small- to mid-size acquisitions in the United States. In the quarter, Cemex's net profit nearly tripled to $734 million, boosted by the Dominican Republic sale. According to Cemex, $618 million of its net profit in the quarter came from discontinued operations.
Yahoo
01-04-2025
- Business
- Yahoo
Jaime Muguiro Begins Tenure as CEO of Cemex
Jaime Muguiro began his career at Cemex in 1996 and has held senior leadership positions at the company in several regions, most recently in the United States. Cemex's growth strategy continues to be focused on growth in the United States through small to medium size bolt-on acquisitions. Cemex is committed to maximizing shareholder return and providing value-added solutions for its customer's building needs. MONTERREY, Mexico, April 01, 2025--(BUSINESS WIRE)--Today, Jaime Muguiro begins his tenure as CEO of Cemex after being appointed to the position by the company's Board of Directors on February 10. This appointment is part of a planned leadership transition following former CEO Fernando A. Gonzalez's decision to retire after a successful career at Cemex. "I am honored to take on this role and deeply grateful to our Chairman Rogelio Zambrano and the Board of Directors for their trust, and to Fernando González for his outstanding leadership," said Jaime Muguiro. "As Cemex's new CEO, I am committed to providing the highest possible returns to our shareholders, which we will achieve by being the best partner to our customers and having a laser-like focus on operational efficiency." "This is a pivotal moment in our company's history. Having achieved our deleveraging objectives and substantially consolidated our operations, we are now well-positioned to transition from financial stabilization to growth, looking primarily at opportunities in the United States, while enhancing shareholder returns and driving sustainable value creation for all stakeholders including our neighboring communities." Jaime Muguiro joined Cemex in 1996 and has held several executive positions in Strategic Planning, Business Development, Ready-Mix Concrete, Aggregates, and Human Resources areas. He has headed several regional operations for Cemex, including the Mediterranean, South, Central America, and the Caribbean, most recently as President of Cemex in the United States. About Cemex Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: Except as the context otherwise may require, references in this press release to "Cemex," "we," "us," "our," refer to Cemex, S.A.B. de C.V. (NYSE: CX) and its consolidated subsidiaries. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Cemex intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect Cemex's current expectations and projections about future events based on Cemex's knowledge of present facts and circumstances and assumptions about future events, as well as Cemex's current plans based on such facts and circumstances, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex's expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex's most recent annual report and detailed from time to time in Cemex's other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex's expectations and/or expected results not producing the expected benefits and/or results. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex's forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. All references to prices in this press release refer to Cemex's prices for Cemex products and services. There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a 'green', 'social,' or 'sustainable' or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as 'green', 'social,' or 'sustainable' or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as 'green', 'social', or 'sustainable' or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time. View source version on Contacts Analyst and Investor Relations - New YorkBlake Haider+1 (212) 317-6011ir@ Analyst and Investor Relations - MonterreyPatricio Treviño Garza+52 (81) 8888-4327ir@ Media RelationsJorge Pérez+52 (81) Sign in to access your portfolio
Associated Press
10-02-2025
- Business
- Associated Press
Cemex Announces Senior Level Organizational Changes
MONTERREY, Mexico--(BUSINESS WIRE)--Feb 10, 2025-- Following today's announcement of the retirement of Fernando Gonzalez as CEO of Cemex, and the appointment of Jaime Muguiro as new CEO effective April 1 st 2025, Cemex announces the following changes to its senior-level organization. Jesus Gonzalez, current President of Cemex South, Central America, and the Caribbean, has been appointed President of Cemex USA. Sergio Menendez, current President of Cemex Europe, Middle East, and Africa, has been appointed President of Cemex Mexico. Jose Antonio Cabrera, former President of Cemex Dominican Republic and Puerto Rico, has been appointed President of Cemex Europe, Middle East, and Africa. Alejandro Ramirez, current President of Cemex Colombia and Peru, has been appointed President of Cemex South, Central America, and the Caribbean. Ricardo Naya, current President of Cemex Mexico, has been appointed Executive Vice President of Sustainability and Operations Development. These changes will also take effect on April 1st, 2025, and reflect Cemex's commitment to leadership development and organizational success. About Cemex Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: Except as the context otherwise may require, references in this press release to 'Cemex,' ' we,' 'us,' 'our,' refer to Cemex, S.A.B. de C.V. (NYSE: CX) and its consolidated subsidiaries. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Cemex intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect Cemex's current expectations and projections about future events based on Cemex's knowledge of present facts and circumstances and assumptions about future events, as well as Cemex's current plans based on such facts and circumstances, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex's expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex's most recent annual report and detailed from time to time in Cemex's other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex's expectations and/or expected results not producing the expected benefits and/or results. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex's forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. All references to prices in this press release refer to Cemex's prices for Cemex products and services. There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a 'green', 'social,' or 'sustainable' or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as 'green', 'social,' or 'sustainable' or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as 'green', 'social', or 'sustainable' or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time. Blake Haider +1 (212) 317-6011 [email protected] and Investor Relations - Monterrey Patricio Treviño Garza +52 (81) 8888-4327 [email protected] Relations Jorge Pérez +52 (81) 8259-6666 [email protected] INDUSTRY KEYWORD: ENVIRONMENT OTHER CONSTRUCTION & PROPERTY MANUFACTURING SUSTAINABILITY CONSTRUCTION & PROPERTY OTHER MANUFACTURING SOURCE: Cemex Copyright Business Wire 2025. PUB: 02/10/2025 07:17 AM/DISC: 02/10/2025 07:17 AM
