GCC Reports Third Quarter 2024 Results

CHIHUAHUA, Mexico, Oct. 22, 2024 (GLOBE NEWSWIRE) -- GCC, S.A.B. de C.V. (BMV:GCC), a leading supplier and producer of cement and concrete in the United States and Mexico, today announced its results for the third quarter of 2024.

Q3 2024 HIGHLIGHTS

Consolidated net sales decreased 4.3% year-on-year to US$398.2 million

U.S. sales grew 0.7% as cement and concrete prices increased 5.7% and 8.2%, respectively

Mexico cement and concrete prices increased 5.5% and 5.4%, respectively

EBITDA increased 2.3% to US$162.1 million with a 40.7% EBITDA margin

Cash and equivalents totaled US$897.2 million

Net leverage (net debt/EBITDA) ratio totaled -0.81x as of September 2024

Earnings per share increased 1.2% year-on-year, to US$0.3276

Free cash flow totaled US$121.5 million with a 75% free cash flow conversion rate

KEY FIGURES (millions of dollars)

 

Q3 24

Q3 23

Q3 24 vs. Q3 23

9M 24

9M 23

9M 24 vs. 9M 23

Net sales

398.2 

416.1 

-4.3%

1,031.4 

1,024.1 

0.7%