Grupo Cementos de Chihuahua, S.A.B. de C.V. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
October 23, 2018 at 04:40 pm EDT
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Grupo Cementos de Chihuahua, S.A.B. de C.V. announced earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net sales of $278.6 million against $251.9 million a year ago. EBITDA was $83.6 million compared to $76.6 million a year ago. Income from continuing operations was $43.3 million compared to $28.9 million a year ago. Consolidated net income was $42.8 million compared to $30.7 million a year ago. Earnings per share were $0.1288 compared to $0.0925 a year ago. Operating income before other expenses were $64.3 million compared to $56.5 million a year ago.
For the nine months, the company reported net sales of $677.4 million against $609.9 million a year ago. EBITDA was $198.6 million compared to $170.8 million a year ago. Income from continuing operations was $83.2 million compared to $50.9 million a year ago. Consolidated net income was $42.2 million compared to $54.8 million a year ago. Earnings per share were $0.1268 compared to $0.1647 a year ago. Operating income before other expenses were $140.7 million compared to $111.5 million a year ago.
Grupo Cementos de Chihuahua SAB de CV (GCC) is a Mexico-based company primarily engaged in the construction materials sector. The Company foocuses on the production and marketing of cement and other related building materials. The Company's product portfolio includes Portland grey cements, ready-mixed concrete, gypsum, additives and limestone aggregates, as well as such prefabricated products as walls, architectural concrete blocks and paving stones, among others. The Company also offers technical support and assistance for the installation of its prefabricated structures. The Company operates in Mexico and the United States, through such subsidiaries as GCC Comercial SA de CV, GCC Concreto SA de CV, GCC Rio Grande Inc, GCC Dacotah Inc, GCC Alliance Concrete Inc, Mid Continent Concrete Inc and Consolidated Ready Mix Inc.