EarningsQ2 2026 Earnings Report
MX:CEMEXA Q2 2026 EPS Results
Actual EPS$0.41
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.42
MX:CEMEXA Q2 2026 Revenue Results
Actual Revenue$79.90B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth-0.81%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
MX:CEMEXA Upcoming Earnings
Cemex SAB de CV Class A's next earnings date is estimated for October 26, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operational progress and financial results driven by Project Cutting Edge, record free cash flow generation, margin expansion, active liability management and raised EBITDA guidance. These positive developments were tempered by short-term volume and margin headwinds from weather disruptions (notably in the U.S.), softer European volumes exacerbated by a heat wave (partly masked by a one-off settlement), temporary nature of some market share gains in Mexico, and near-term net debt increase due to M&A and shareholder returns. Management articulated clear plans to sustain savings, continue asset pruning, and improve earnings quality, suggesting confidence in medium-term improvement despite near-term cyclical and geopolitical uncertainties.Company Guidance
Record Quarterly EBITDA and Margin Expansion
Consolidated EBITDA exceeded $1.0 billion in Q2 2026. Adjusting for a one-off €42M/ $42M settlement, EBITDA expanded ~19% year-over-year and consolidated EBITDA margin expanded (reported up to 2.1 p.p., adjusted expansion cited ~1.4 p.p.) to ~21.4%, the highest level since 2008.
Strong Free Cash Flow and Conversion Improvement
Free cash flow from operations reached a Q2 record of $651 million; first-half free cash flow from operations rose to $666 million (up >$730M YoY). Trailing 12-month adjusted free cash flow conversion reached 60% versus 33% a year ago.
Project Cutting Edge Delivering Material Savings
Project Cutting Edge generated approximately $60 million of quarterly efficiencies and the company has captured ~80% of the initial $400M target. Management raised the target to $475M (additional $75M), with 2026 expected savings of ~$185M and most incremental savings to be realized in 2027.
Raised Full-Year EBITDA Guidance
Based on H1 performance and continued Project Cutting Edge contribution, full-year EBITDA guidance was raised to growth of +16% to +17% year-over-year (H2 guidance assumes MXN 18.25–18.50).
Regional Outperformance in Key Markets
Mexico led results with the second consecutive quarter of year-over-year cement volume growth; Middle East & Africa EBITDA grew ~34%; South, Central America & Caribbean delivered double-digit EBITDA growth with margin expansion >4 p.p.; EMEA adjusted EBITDA up ~9% (excluding one-off).
Energy and Cost Improvements
Energy cost per ton of cement declined ~6% year-over-year in the quarter; fuel costs were down ~12% in Q2 and ~10% for H1 versus prior year. Diesel hedging offset ~$32M of diesel costs year-to-date and ~80% of 2027 diesel consumption is hedged.
Active Liability Management and Liquidity Enhancement
Executed liability management: repaid ~$1.5B of bank term loans and redeemed $1.0B subordinated notes; issued $1.5B 10-year senior notes at 5.75% (tightest spread in company history) and replaced two RCFs with a $3.0B 5-year revolver linked to CO2 targets. Net leverage (including subordinated notes) improved to 2.08x.
Operational and Portfolio Actions to Boost Cash Generation
Disposed of an additional 12 facilities in the quarter as part of asset pruning, targeted $300M potential free cash flow improvement, and announced focus on lower growth CapEx, overhead optimization, procurement transformation and AI pilots (Balcones plant) to boost long-term margins and cash conversion.
MX:CEMEXA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed