CEMEX reported net sales increased 9% to $4,036 million in the first quarter of 2023. The strong results are attributable to pricing, decelerating input cost inflation and contributions from the company’s growth investments and the Urbanization Solutions business, the company stated.
CEMEX said its operations in the United States achieved a net sales increase of 5% to $1,255 million despite significant weather challenges impacting most markets. Net sales in Mexico increased 13% in the first quarter, to $1,097 million. Operations in South, Central America and the Caribbean region reported net sales of $411 million in the first quarter, an increase of 4%.
“I am quite pleased with our first quarter growth achieved against a backdrop of challenging weather in our footprint in the United States and a strong prior year comparison base,” said Fernando A. González, CEO of CEMEX. “I believe this quarter marks an important inflection point in our mission to recover 2021 margins and compensate for the steep cost inflation we’ve experienced over the past two years. Importantly, our pipeline of growth investments and our Urbanization Solutions business were a significant contributor to EBITDA growth. And, of course, we never lose sight of our decarbonization roadmap, with our Future in Action program resulting in a 3% decline in CO2 emissions versus the first quarter of 2022.”