Earnings Report /
MexicoCemex: CEMEX, Quarterly Report 1Q21: Profitability surprises and rises guide 2021
CEMEX's results exceeded expectations, as higher volumes and lower expenses led to a solid profitability increase
The above, together with a more favorable outlook, led to raising EBITDA guidance for 2021 to >US$2.9 billion
We raise PT to MXN 19.50, and reiterate the stock as one of our top picks due to higher expected growth and valuation
Jose Itzamna Espitia Hernandez
Senior Equity Research Analyst, Infrastructure, Materials and Transportation @ Banorte
5 May 2021
Published byBanorte
