Dallas, Texas 11/14/2013 (Financialstrend) – The $12.58 billion market capped Mexican cement producer Cemex SAB de CV (ADR) (NYSE:CX) had entered the U.S markets through its ADR in order to raise capital from U.S investors. The firm has managed to post sales of $14.58 billion over the trailing 12 months and had recorded net loss of $1.08 billion in the same period. It is a Mexico based multinational with its operations and sales spanning across 50 countries from across the globe.
During trading on November 13, the ADR managed to post an impressive 2.14% increase in its market valuation. This was accomplished thanks to better than expected results from its third quarter operations. The cement manufacturer had managed to post higher than expected in its largest market U.S. To offset this increase in sales was the dampening news that the firm had managed to post net losses which was more than Wall Street expectations.
Long term investors in the Cemex SAB de CV (ADR) (NYSE:CX) would have observed the value of their stock holding being under huge pressure as the cement maker has weathered the dip in demand in a relay format in all its major markets leading to a continued build up in its net losses. The firm has also been accused of stretching itself by gunning for costly takeover of its peers/competition to gain foot hold and market share. The biggest impact has been felt due to the continued ambiguity in real estate demand in U.S and minimal spending from the Mexican government due to slow down in its economy. This had led to a poor sales attainment resulting in income dip.
Cemex SAB de CV (ADR) (NYSE:CX) has also managed to increase its net income in Europe by 6% in the 3Q and managed to post a significant 9% increase in sales in its Mediterranean market in the same period. Most importantly, it also managed to post 5% increase in sales from its Asian operations.