The 10-second takeaway
For the quarter ended March 31 (Q1), CEMEX missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted. Non-GAAP loss per share increased. GAAP loss per share increased.
Gross margins expanded, operating margins increased, net margins dropped.
CEMEX reported revenue of $3.32 billion. The six analysts polled by S&P Capital IQ looked for sales of $3.56 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 -$0.24. The six earnings estimates compiled by S&P Capital IQ averaged -$0.09 per share. Non-GAAP EPS were -$0.24 for Q1 versus -$0.08 per share for the prior-year quarter. GAAP EPS were -$0.25 for Q1 against -$0.03 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 27.4%, 50 basis points better than the prior-year quarter. Operating margin was 6.6%, 20 basis points better than the prior-year quarter. Net margin was -8.5%, 770 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $4.05 billion. On the bottom line, the average EPS estimate is $0.01.
Next year's average estimate for revenue is $15.97 billion. The average EPS estimate is -$0.21.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 3,737 members out of 3,894 rating the stock outperform, and 157 members rating it underperform. Among 1,043 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,013 give CEMEX a green thumbs-up, and 30 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CEMEX is outperform, with an average price target of $11.68.
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