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Cemex posted a second-quarter net loss of $306 million on July 27, worse than analysts’ expectations, as the world’s No. 3 cement maker struggled with weak sales in the United States and Europe, Reuters reported.
The report noted that seven analysts polled by the new organization had forecast a profit of $84 million for the quarter. Cemex reported a profit of $186.5 million in the April to June period last year.
Cemex said second-quarter revenue fell 3 percent from a year earlier to $3.8 billion. Earnings before interest, taxes, depreciation and amortization fell 13 percent to $664 million.