Cemex opened 2026 with record first-quarter EBITDA of $794 million, up 34% year over year, as sales rose 11% to $4.02 billion and margin expanded 3.3 points to 19.8%.
3 Key Points
—Cemex (NYSE: CX; BMV: CEMEXCPO), the Monterrey cement group operating across four continents, opened 2026 with a record first quarter: EBITDA of $794 million rose 34% year over year on sales of $4.02 billion (+11%), with the margin expanding 3.3 percentage points to 19.8% as the new CEO's 'Project Cutting Edge' cost program hit its stride.
—The headline net line needs translation: reported profit of roughly $210 million fell about two thirds against a year-ago quarter inflated by the Dominican Republic divestment gain — adjusted for that one-off, profit roughly DOUBLED; the sell side saw through it, and Cemex has now beaten EPS estimates in four consecutive quarters.
—Wall Street's verdict is the most bullish in this earnings series: 10 of 15 analysts rate the ADR a buy (3 strong buys, zero sells) with a $14.47 target against a $13.10 price — a stock up 73% from its 52-week low, riding Mexico's building cycle, US infrastructure and its own investment-grade comeback.
