Cemex reported a net profit of $48.31 million for the fourth quarter of 2024, which was below the analyst estimate of $91.29 million. Consolidated sales for the quarter were down 5% year-on-year, reaching $3.81 billion.
The company experienced lower volumes in nearly all sectors, with demand declining in its key markets of Mexico and the United States. Despite these volume challenges, price hikes helped to offset some of the negative impact on profitability.
Cemex also announced the launch of a new savings program, Project Cutting Edge, aimed at delivering a $350 million earnings boost by 2027. Looking ahead, the company anticipates an improvement in cement demand in the U.S. for 2025.
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