Profiled earlier this week in “Good Stocks To Buy Now”, Cemex SAB de CV (NYSE: CX) announced today that consolidated net sales increased by 6% during the fourth quarter of 2011 to approximately $3.7 billion and increased 8% for the full year to $15.1 billion versus the comparable periods in 2010.
CX was upgraded today by analysts at Deutsche Bank from a “hold” rating to a “buy” rating.
CX closing price today was $7.86, up +10.55% (+0.75).
CX traded volume of 95,690,573, nearly 6.5x Average Volume
Shares in CX traded up to $7.95 in after-hours trading.
Operating EBITDA increased by 13% during the fourth quarter of 2011 to $542 million and increased 1% for the full year to $2.3 billion versus 2010.
CEMEX’s Consolidated Fourth-Quarter and Full-Year 2011 Financial and
• The increase in consolidated net sales for the quarter was due to higher volume and price in local-currency terms mainly from our operations in Northern Europe, South, Central America and the Caribbean, and the United States.
• The infrastructure and residential sectors were the main drivers of demand in most of our markets.
• Free cash flow after maintenance capital expenditures for the quarter was US$374 million, up 51% compared with US$248 million in the same quarter of 2010. For the full-year 2011, it was down 25% to US$386 million.
• Operating income in the fourth quarter increased by 79%, to US$224 million, from thecomparable period in 2010 and increased 12%, to US$960 million, for the full-year 2011.