Cemex stock: Record cash flow meets uneven regional execution

Cemex reported stronger third-quarter profitability and cash generation on October 26, while regional performance remained uneven. The stock traded at 0.97 euros on Lang & Schwarz at 15:43 CET on Thursday, November 12, 2026. That compares with 0.96 euros at 13:04 CET in the latest relevant report, an increase of 1.04 percent since that report; this is separate from the daily Xetra comparison.

Cash generation strengthens the quarter

According to Cemnet, third-quarter revenue rose 8 percent year over year to 4.59 billion US dollars. Operating EBITDA increased 12 percent to 990 million US dollars, lifting the margin to 21.6 percent from 20.8 percent.

Free cash flow from operations reached a third-quarter record of 723 million US dollars, up 34 percent from a year earlier. For the first nine months, the measure rose 194 percent to 1.4 billion US dollars, while operating EBITDA increased 22 percent to 2.80 billion US dollars.

Mexico leads as US earnings lag

Mexico was the strongest regional contributor, with operating EBITDA advancing 30 percent to 480 million US dollars on higher cement demand and efficiency gains. Europe, the Middle East and Africa increased EBITDA 4 percent to 257 million US dollars as pricing and efficiency gains offset higher energy costs.

The United States provided a counterpoint. Sales rose 5 percent, but operating EBITDA fell 4 percent to 259 million US dollars. The regional split leaves execution and cost control central to the question of whether Cemex can sustain its higher group margin.

Asset disposals broaden strategic flexibility

Cemex sold its Atlanta ready-mix and recycled-concrete assets and entered exclusive negotiations with Vicat over assets in southeastern France. Completed and announced disposals under the asset-pruning program exceed 200 million US dollars, with proceeds intended for strategic investments.

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