{"id":1983901,"date":"2023-07-27T07:26:02","date_gmt":"2023-07-27T11:26:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mexicos-cemex-profit-climbs-modestly-on-price-hikes-strong-peso\/"},"modified":"2023-07-27T07:29:23","modified_gmt":"2023-07-27T11:29:23","slug":"mexicos-cemex-profit-climbs-modestly-on-price-hikes-strong-peso","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mexicos-cemex-profit-climbs-modestly-on-price-hikes-strong-peso\/","title":{"rendered":"Cemex&#8217;s profit in Mexico rises slightly due to price increases and a strong peso."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmexicos-cemex-profit-climbs-modestly-on-price-hikes-strong-peso%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1983901&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Mexican Cement Maker \u200cCemex Reports Slight Rise in Q2 Net Profit<\/h2>\n<p>By Kylie Madry<\/p>\n<p>MEXICO CITY\u2063 (Reuters) &#8211; Mexican cement\u200c maker Cemex has announced a modest increase\u2064 in second-quarter net profit, driven by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mexicos-cemex-profit-climbs-modestly-on-price-hikes-strong-peso\/\" title=\"Cemex's profit in Mexico rises slightly due to price increases and a strong peso.\">double-digit price hikes<\/a> and a strong \u2062peso.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The company\u200b reported a net profit of\u200b $272 \u2063million, \u200ca 2%\u2064 increase compared to\u2062 the previous year. Revenue also saw a\u200c significant rise\u2063 of 13% to\u200b reach $4.57 billion. However, the growth in revenue \u200bwas partially\u200d offset by \u2063higher \u200cfinancial expenses and income taxes.<\/p>\n<p>Cemex, which holds\u2062 a majority of its debt in U.S. dollars, benefited from the \u200ddepreciation\u2062 of\u2063 the greenback\u2063 against the peso, earning an\u2064 additional $49.21 million solely\u200d from the exchange rate. This is\u200d in contrast to a loss of $29.57 million in \u2064the\u2063 same\u200c quarter last year. The\u200d company also managed to reduce its\u2062 total\u200b debt by\u2064 12% to $7.67 million.<\/p>\n<p>Operating earnings before interest, taxes, depreciation, and amortization (EBITDA), or core\u200c earnings, experienced a significant boost of 34% to reach $961 million. This growth was driven by positive \u200bperformance across all four regions where the\u2063 company operates, as inflationary pressures on input costs began to ease.<\/p>\n<p>CEO Fernando Gonzalez expressed optimism, stating\u2062 that Cemex is &#8220;getting\u2062 very \u200bclose&#8221; to\u2063 recovering its \u200b2021 margins.<\/p>\n<p>In the U.S., Cemex&#8217;s largest market, revenues increased by 10% year-on-year, compensating for a decline in cement and ready-mix volumes due to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pope-francis-multilateralism-must-not-be-stifled-by-nationalistic-demands\/\" title=\"Pope Francis: Multilateralism Must Not Be Stifled by \u2018Nationalistic Demands\u2019\">adverse weather conditions<\/a> and\u200b weak residential demand.\u200b The \u200bcompany expects further price increases in\u200d the third quarter.<\/p>\n<p>Although volumes decreased in other markets, \u2063including Europe, the Middle East, Africa,\u2063 and Asia, higher prices helped offset \u2063the decline.<\/p>\n<p>In Mexico,\u2064 sales and\u2063 volumes grew thanks to the performance \u2062of the formal sector. Cement volumes saw a slight increase of \u200b1% compared to\u2064 the previous year, signaling the first signs of\u2063 demand recovery in two years, according to Cemex.<\/p>\n<p>The company \u200bforecasts an\u200b EBITDA of approximately $3.25 billion \u200dand anticipates a \u200d10% rise in\u2063 energy costs per ton of cement produced.<\/p>\n<p>  (Reporting by Kylie Madry and Natalia Siniawski; Editing by\u200c Varun H K)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/mexicos-cemex-profit-climbs\/attachment\/the-logo-of-mexican-cement-maker-cemex-is-pictured-at\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<p>At least\u2064 six people are injured after \u200da Manhattan construction crane catches\u2062 fire and plummets 45 stories.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<p>Hunter&#8217;s Plea Deal is struck down while \u2062Mitch McConnell shows\u2064 he&#8217;s 81.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<p>The Federal Reserve resumed its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-chair-aggressive-rate-hikes-may-be-needed-to-tame-inflation\/\" title=\"Fed Chair: Aggressive Rate Hikes May Be Needed To Tame Inflation\">aggressive rate hikes<\/a> to tackle inflation, raising the interest rate by \u2064a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-raises-interest-rates-again-highest-in-22-years-expert-analysis-follows\/\" title=\"Federal Reserve hikes rates, highest in 22 years \u2013 Expert analysis ensues.\">quarter-point today<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<p>South Carolina Congressman Ralph\u200b Norman tells One\u200d America News that there is enough evidence and \u2063the time has come \u2064for a House-initiated impeachment of Joe\u2064 Biden.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<p>By \u2063Alexander Marrow\u200b and Gleb Stolyarov (Reuters) &#8211; Russian tech giant Yandex reported a 27% fall in second-quarter net profit on Thursday as\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<p>By Alexander Marrow \u200band Gleb Stolyarov (Reuters) &#8211; Russian tech giant Yandex reported a 27% fall in second-quarter \u200bnet profit on Thursday as\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other \u2062News:<\/h3>\n<p>DUBLIN (Reuters)\u200d &#8211; Digital\u200c rights group NOYB on Thursday filed a complaint against Ryanair, alleging that the \u200bairline is violating customers&#8217; data\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<p>DUBLIN (Reuters) \u2064- Digital rights group\u2064 NOYB on\u2062 Thursday filed \u200ba complaint against Ryanair, alleging that the \u200bairline is violating \u200bcustomers&#8217; data\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mexican cement company Cemex reported a 2% increase in second-quarter net profit, reaching $272 million. This growth was attributed to double-digit price increases and a strong peso. Additionally, revenue rose by 13% to $4.57 billion.<\/p>\n","protected":false},"author":66,"featured_media":1983902,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1983901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1983901"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1983902"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1983901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1983901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1983901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}