Cemex stock: Q3 profit rises as cash flow reaches record

Cemex reported a sharp increase in third-quarter 2026 profit as higher prices, cement volumes and efficiency measures strengthened its operating performance. According to CemNet, net profit attributable to controlling shareholders reached 407 million US dollars in the three months ended September 30, compared with 264 million US dollars a year earlier. The result reflects stronger pricing, cement demand and the company's Project Cutting Edge efficiency program.

Profitability Outpaced Sales Growth

Revenue rose 8% year over year to 4.59 billion US dollars from 4.25 billion US dollars. Operating EBITDA increased 12% to 990 million US dollars from 882 million US dollars, while the EBITDA margin widened to 21.6% from 20.8%. EBIT advanced 19%. On a like-for-like basis, revenue grew 5% and operating EBITDA increased 9%, indicating that efficiency gains and pricing contributed alongside volume growth.

Mexico was the main earnings driver. Regional operating EBITDA climbed 30% to 480 million US dollars on stronger cement demand and cost efficiencies. In the United States, sales increased 5%, but operating EBITDA declined 4% to 259 million US dollars. EBITDA in Europe, the Middle East and Africa rose 4% to 257 million US dollars as pricing and efficiency measures offset higher energy costs.

Cash Flow Supports Strategic Flexibility

Free cash flow from operations reached a third-quarter record of 723 million US dollars, up 34% from the prior year. For the first nine months, revenue increased 10% to 13.20 billion US dollars and operating EBITDA rose 22% to 2.80 billion US dollars. Nine-month free cash flow from operations increased 194% to 1.4 billion US dollars, although net profit attributable to controlling shareholders fell 25% to 982 million US dollars.

Cemex also sold its Atlanta ready-mix and recycled-concrete assets and entered exclusive negotiations with Vicat concerning assets in southeastern France. Completed and announced disposals under the asset-pruning program exceed 200 million US dollars, with proceeds intended for strategic investments. The transactions reinforce management's focus on reshaping the portfolio while funding growth opportunities.

Outlook Keeps Execution In Focus

Management retained its full-year 2026 EBITDA growth guidance of 16% to 17% on a like-for-like basis for ongoing operations. The outlook must absorb normal fourth-quarter seasonality, higher maintenance spending and energy-related pressure. For investors, the regional split remains important: Mexico is providing strong operating momentum, while weaker US profitability and cost inflation continue to weigh on the broader earnings profile.

Cemex stock traded at 0.98 euros on Lang & Schwarz at 13:42 CET on Wednesday, November 11, 2026. The quote provides a current market indication, while the earnings release remains the central driver for the investment case.

Broader market conditions remain relevant for construction-materials demand; see Current market reports.

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