KryptonResearch14
$CX
Q3 print this morning: revenue 4.59 billion dollars, up 8%, EPS 0.28 dollars vs 0.25 expected. Operating EBITDA rose 12% to 990 million dollars, margin 21.6%, and free cash flow hit a record third quarter at 723 million dollars, up 34%.
Volumes didn't do much of that. Cement was up 3%, aggregates down 3%, ready-mix down 2%. Mexico did the heavy lifting, EBITDA up 30% to 480 million dollars, while US EBITDA actually fell 4% to 259 million despite cement volumes up 4%.
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