Renewable Energy

POLL-Mexico's Cemex forecast to post higher net profit despite sales drop

Credit: REUTERS/Daniel Becerril

Mexican cement maker Cemex is expected to report this week that its first quarter net profit more than doubled compared with the year-earlier period, according to analysts polled by Reuters, helped by lower exchange rate losses.

MEXICO CITY, April 23 (Reuters) - Mexican cement maker Cemex CMXCPO.MX is expected to report this week that its first quarter net profit more than doubled compared with the year-earlier period, according to analysts polled by Reuters, helped by lower exchange rate losses.

However, the company is forecast to post a drop in revenue due to lower sales in several regions including Mexico, one of its largest markets.

Cemex will release its results on Thursday before the market opens.

All figures below, showing the average estimates of six analysts, in millions of dollars:

2019

2018

JAN-MARCH

JAN-MARCH

Revenue

3,266

3,381

EBITDA

521

535

Net income

67

26

(Reporting by Noe Torres, writing by Daina Beth Solomon Editing by James Dalgleish)

((daina.solomon@thomsonreuters.com; +52-55-5282-7150))

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