)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
CEMEX (CEMEXCPO) investor relations material
CEMEX Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary28 Oct, 2025
Executive summary
Achieved double-digit EBITDA growth and significant margin expansion in 3Q25, with all regions contributing and strong free cash flow from operations.
Project Cutting Edge delivered $90 million in EBITDA savings in Q3, with further incremental savings expected in 2026.
Portfolio rebalancing included divestment of Panama and other assets, and consolidation/acquisition of U.S. aggregates businesses, strengthening the U.S. footprint.
Net income adjusted for discontinued operations grew 8% in Q3, with controlling interest net income at $264 million.
Progress in decarbonization, with EMEA operations achieving the European Cement Association's 2030 net CO2 emissions target ahead of schedule.
Financial highlights
Net sales increased 2% year-over-year in 3Q25 to $4.2 billion, with EBITDA up 16% to $882 million and margin expanding by 2.5pp to 20.8%.
Free cash flow from operations surged 190% year-over-year in 3Q25 to $539 million, with a trailing 12-month conversion rate of 41%.
Record net income of $1.3 billion for the first nine months, mainly from asset sales and FX gains.
Total debt decreased 10% year-over-year to $6.79 billion, and net debt fell 21% to $5.59 billion.
Energy costs per ton of cement declined 14% in the first nine months.
Outlook and guidance
Full-year EBITDA guidance maintained, expecting flat performance versus 2024 with potential upside.
Free cash flow conversion targeted at 45% in 2026 and 50% beyond, driven by lower CapEx and interest expenses.
Expects continued margin expansion and operational improvements in 2026, with infrastructure spending and social housing in Mexico driving demand recovery.
U.S. demand expected to grow low single digits in 2026, with infrastructure as the main driver.
Maintenance capex projected at $850 million, growth capex at $550 million, and cash taxes estimated at $350 million for 2025.
Project Cutting Edge: 2026-2027 recurrent savings
Net EBITDA impact of portfolio rebalancing
Key drivers for Mexico and US 2025 volume outlook
Mexico volume recovery outlook?
Drivers of 190% FCF increase in 3Q25?
Detail EMEA's CO2 emissions target achievement.
Balcones AI: US cement margin outlook?
FCF conversion rate: 2026/2027 targets?
US M&A strategy: target types and pipeline?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next CEMEX earnings date
Q4 20256 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
CEMEX S.A.B. de C.V. is a global building materials company producing, distributing, and marketing cement, ready-mix concrete, and aggregates. It serves residential, commercial, and infrastructure construction sectors worldwide. The company is headquartered in Monterrey, Mexico, and its shares are listed on the BMV.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage