CEMEX’s grows net income 72% during the first nine months of 2017 (8.10)
- Net income reached U.S.$916 million in the first nine months of 2017, an increase of 72% compared to the same period last year. This is the highest net income for this period since almost 10 years.
- Total debt plus perpetual notes declined by U.S.$1.5 billion year-to-date September.
- The increase in consolidated net sales on a like-to-like basis was due to higher prices for our products in Mexico and the U.S., as well as higher cement volumes in the U.S., Europe, and Asia Middle East and Africa regions.
- Operating earnings before other expenses, net, in the third quarter decreased by 9%, to U.S.$494 million.
- Controlling interest net income during the quarter improved to U.S.$289 million from an income of U.S.$286 million in the same period last year.
- Operating EBITDA decreased during the quarter by 8% on a like-to-like basis to U.S.$702 million.
- Operating EBITDA margin decreased by 2.2 percentage points on a year-over-year basis reaching 19.8%, reflecting in part higher energy and freight costs, increase costs in raw materials in some of our ready-mix operations, as well as the impact of lower volumes.