The 10-second takeaway
For the quarter ended June 30 (Q2), CEMEX missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP loss per share dropped.
Margins expanded across the board.
CEMEX chalked up revenue of $3.86 billion. The 10 analysts polled by S&P Capital IQ foresaw a top line of $4.05 billion on the same basis. GAAP reported sales were 3.5% lower than the prior-year quarter's $4.05 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.17. The eight earnings estimates compiled by S&P Capital IQ averaged -$0.09 per share. GAAP EPS were -$0.17 for Q2 against -$0.27 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 30.0%, 180 basis points better than the prior-year quarter. Operating margin was 9.5%, 320 basis points better than the prior-year quarter. Net margin was -4.8%, 240 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.98 billion. On the bottom line, the average EPS estimate is -$0.08.
Next year's The average EPS estimate is -$0.36.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 3,805 members rating the stock outperform, and 159 members rating it underperform. Among 1,029 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 986 give CEMEX a green thumbs-up, and 43 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CEMEX is hold, with an average price target of $8.19.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.