CEMEX, S.A.B. de C.V. (NYSE:CX) Q2 2024 Earnings Conference Call July 25, 2024 11:00 AM ET
Company Participants
Lucy Rodriguez - EVP of IR, Corporate Communications and Public Affairs
Fernando Gonzalez - CEO
Maher Al-Haffar - CFO
Conference Call Participants
Alejandra Obregon - Morgan Stanley
Benjamin Theurer - Barclays
Paul Roger - Exane BNP Paribas
Carlos Peyrelongue - Bank of America
Yassine Touahri - On Field Research
Alberto Valerio - UBS
Jorel Guilloty - Goldman Sachs
Marcelo Furlan - Itau
Operator
Good morning, and welcome to the CEMEX Second Quarter 2024 Conference Call and Webcast. My name is Drew, and I'll be your operator for today. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions].
And now I’ll turn the conference over to Lucy Rodriguez, Chief Communications Officer. Please proceed.
Lucy Rodriguez
Good morning. Thank you for joining us today for our second quarter 2024 conference call and webcast. We hope this call finds you in good health. I'm joined today by Fernando Gonzalez, our CEO; and Maher Al-Haffar, our CFO. As always, we will spend a few minutes reviewing the business, and then we will be happy to take your questions.
And now I'll hand it over to Fernando.
Fernando Gonzalez
Thanks, Lucy, and good day to everyone. I'm pleased with our second quarter results, where EBITDA grew year-over-year despite significant weather challenges in several key markets. Even with the decline in volumes and a strong prior year comparison, EBITDA margin expanded to the highest levels of the last three years, marking five consecutive quarters of expansion. Our pricing strategy adjusting to reflect decelerating cost inflation continue to pay off with a widening price to cost ratio. Bolt-on growth investments, mainly in the U.S. and our urbanization solutions business continued to support EBITDA growth.