Mexican cement maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimates of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimates of $4.19 billion, despite volumes falling in all of its product segments.
Mexican cement maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimates of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimates of $4.19 billion, despite volumes falling in all of its product segments.
Mexican cement maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimate of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimate of $4.19 billion, despite volumes falling in all of its product segments.