The 10-second takeaway
For the quarter ended Sep. 30 (Q3), CEMEX missed slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP loss per share dropped.
Gross margins expanded, operating margins were steady, net margins grew.
CEMEX logged revenue of $3.90 billion. The seven analysts polled by S&P Capital IQ expected revenue of $3.97 billion on the same basis. GAAP reported sales were 9.1% higher than the prior-year quarter's $3.65 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 -$0.18. The six earnings estimates compiled by S&P Capital IQ forecast -$0.03 per share. GAAP EPS were -$0.19 for Q3 compared to -$0.60 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 30.7%, 110 basis points better than the prior-year quarter. Operating margin was 6.2%, about the same as the prior-year quarter. Net margin was -5.2%, 1,310 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.78 billion. On the bottom line, the average EPS estimate is -$0.13.
Next year's average estimate for revenue is $15.15 billion. The average EPS estimate is -$0.34.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 3,783 members out of 3,942 rating the stock outperform, and 159 members rating it underperform. Among 1,047 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,013 give CEMEX a green thumbs-up, and 34 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 $9.27.
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