(Bloomberg) -- Mexican cement maker Cemex SAB reported third-quarter net revenue below market expectations, hurt by adverse weather in the US and its domestic market.
Revenue in the period was $4.09 billion, according to a filing Monday, below the average analyst estimate of $4.32 billion. Operating Ebitda came in at $747 million, also below estimates.
Cemex, which is one of the world’s largest cement producers, has tried to ramp up prices across the board even as volumes dwindle in some of its largest markets.
The Monterrey, Mexico-based company has been restructuring its operations. In August, Cemex agreed to sell its Dominican Republic subsidiary for $950 million as part of a strategy to rebalance its portfolio and focus in priority markets like the US. It also sold its remaining stake in technology consultant Neoris for about $209 million in September and its Guatemala operations to Holcim Group for another $200 million.
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