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UPDATE 1-Mexico's Cemex profit misses expectations [Reuters]

Cemex, S.A.B. de C.V. Sponsored ADR (CX) 
US:NYSE Investor Relations: cemex.com/investors/overview
Company Research Source: Reuters
UPDATE 1-Mexico's Cemex profit misses expectations (Adds details on the quarter) April 25 (Reuters) - Mexican cement producer Cemex SAB de CV on Thursday reported a lower-than-expected profit, hurt by lower volumes in Mexico and the United States, its two most important markets. Sales in Mexico fell 8 percent to $706 million and earnings before interest, tax, depreciation and amortization (EBITDA) declined by 14 percent to $255 million during the first quarter ended March, the company said. U.S. sales rose 3 percent to $878 million, but EBITDA fell 1 percent to $130 million. Monterrey-based Cemex has been waging a campaign to cut costs and divest to regain its investment-grade rating. In February, the company said it would sell some of its European facilities and businesses to German building company Schwenk for about $385 million. Net profit rose to $39 million in the quarter, from $20 million a year earlier, while total net sales increased 1 percent to $3.2 billion. Analysts on aver Show less Read more
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