CEMEX (CEMEXCPO) investor relations material

Executive summary

• 3Q26 net sales rose 8% to $4.59bn; EBITDA increased 12% to $990m, with margin up 0.8pp to 21.6%.

• EBITDA and EBIT grew faster than revenue for a fifth consecutive quarter, supported by transformation, pricing, efficiencies, improved volumes and favorable FX.

• Record quarterly FCF from Operations reached $723m, up 34%; controlling-interest net income rose 55% to $407m.

• Results reflected an uneven market recovery, with Mexico strength offset by cost and operating pressures in the U.S. and SCAC.

Financial highlights

• 3Q26 EBIT increased 19% to $652m; gross profit rose 14% to $1.63bn.

• 9M26 net sales increased 10% to $13.20bn and EBITDA rose 22% to $2.80bn; FCF from Operations was $1.389bn versus $473m.

• 3Q26 controlling-interest net income rose 55% to $407m; 9M26 fell 25% to $982m against the prior-year Dominican Republic sale gain.

• Project Cutting Edge generated $60m in recurring quarterly savings and reached 80% of its $475m cost-savings target; the remaining $95m is expected to primarily benefit 2027.

Outlook and guidance

• FY26 EBITDA growth guidance remains 16%-17% YoY on a like-to-like basis for ongoing operations, assuming Q4 MXN/USD of 18.25-18.50.

• Q4 guidance faces seasonality, ~$18m of maintenance headwinds and ~$17m of energy headwinds; 2026 maintenance CapEx is expected at ~$900m.

• 2027 pricing aims for solid mid-single-digit increases across products; energy inflation could reach mid- to high-single digits, with pricing, hedging and alternative fuels as offsets.

• Mexico demand is expected to remain constructive in 2027; U.S. residential demand is not expected to improve materially, while infrastructure and industrial activity support markets.

• Total CapEx is targeted at no more than $1.15-$1.2bn by 2028 and beyond; asset pruning is expected to add at least $100m in recurring FCF from 2027 onward.