Cemex Q1 Net Income $734M Misses Sales and EPS Estimates; Shares Rise 2.7% Pre-Market

Mexican cement producer Cemex reported a decline in its first-quarter profits, primarily driven by lower sales volumes in its domestic market. The company posted a controlling interest net income of $734 million, surpassing the estimated $196.3 million. However, its GAAP earnings per share (EPS) came in at $0.08, missing the $0.10 consensus estimate. Cemex's sales reached $3.65 billion, falling short of the projected $3.80 billion. Despite the profit slip, Cemex's shares saw a pre-market increase of 2.7%. The results reflect challenges in Cemex's core markets, particularly in Mexico, where demand weakened during the quarter.