Cemex reported its first-quarter results as new CEO Jaime Muguiro outlined his vision for the company to the financial community for the first time. As he ushers the company into an era of sustainable and profitable growth, Muguiro’s focus lies on achieving operational excellence, increasing free cash flow and enhancing shareholder returns.
The company’s growth strategy remains focused on accretive small to mid-size acquisitions in the United States, with full commitment to disciplined capital allocation.
For the quarter, Cemex achieved a record net Income of $734 million. Net sales stood at $3,649 billion, driven by higher consolidated prices, partially offsetting the effect from lower volumes in Mexico. EBITDA reached $601 million, in line with expectations underlying full year 2025 EBITDA guidance, which remained unchanged.
North American sales were $1,190 billion, versus $1,234 billion in the first quarter of 2024, a 4% decrease.
Free cash flow from operations reflected typical seasonal working capital trends in the quarter. EBITDA Margin was supported by stronger pricing and reduced energy and freight costs, which helped offset lower volumes and weather-related maintenance activity.
“I am committed to providing the highest possible returns to our shareholders by being the best partner to our customers, having a laser-like focus on operational efficiency, and following a disciplined capital allocation strategy,” said Muguiro. “I am confident we have the right management team to accomplish this.”
Under Muguiro’s leadership, Cemex intends to use its previously announced “Project Cutting Edge” cost savings initiative, as the foundation to drive a streamlined organizational transformation, to simplify and empower regional operations and deliver profitable growth. Cemex is targeting recurrent yearly EBITDA savings of at least $150 million in 2025 and $350 million by 2027.