EconomyFinancialCemex's problem: Increasing the price of cement has failed...

Cemex's problem: Increasing the price of cement has failed to beat inflation

Cemex’s earnings have been hurt by rising inflation rates. During the third quarter of the year, the company was impacted by high rates and complications in supply chains, which has “delayed our ability to recover margins,” said Fernando González Olivieri, CEO of Cemex.

The results, which highlight worldwide an operating flow 6% lower compared to last year and 3.2 percentage points lower, occurs despite the fact that a strategy of increasing the prices of its products was deployed, which has overcompensated inflation in terms dollars and that brought a 13% increase in sales.

The net income reported by the company was 494 million dollars.

The worst markets for Cemex regarding operating flow were Mexico and Central, South America and the Caribbean, since despite reporting growth in sales of 9% and 2% respectively, the indicator fell 12% and 11%. While in the United States 19% more was sold and there was a 10% higher operating flow. In Europe, the Middle East, Asia and Africa, the figures were 16% and 8% higher.

Sustainability becomes the strong point

During 3Q22, the company reaped results from implementing its “green” strategies, since it reported a reduction in carbon emissions of 8% since the implementation of its Future in Action program; “This achievement was driven by record levels of alternative fuel use and clinker factor substitution. Our success to date gives us confidence to make a more accelerated route towards 2030”, said González Olivieri.

Health! Premium tequilas boost sales for the owner of José Cuervo

Becle recorded a 22% increase in sales in the third quarter, driven by higher consumption of tequila outside of Mexico and the United States.

Everything goes up, but Mexicans do not give up their Starbucks coffee or Domino's...

Starbucks and Domino's Pizza remain the restaurant operator's most profitable brands, with revenue growth of 43.3% and 16.5%, respectively.

The iPhone saves Apple's revenue, but not enough to completely rid the crisis

Despite having lower sales of its products and services, the company managed to have satisfactory results.

Prime Day does not save Amazon and reports only 15% growth

The big tech companies are disappointing shareholders and Wall Street's response is to stop betting on them.

Arca Continental enters the distribution of Don Julio tequila

The Coca-Cola bottler will now test distillate distribution, while reinforcing Topo Chico's presence in the ready-to-drink category.

More