Buying Opportunity • Mar 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be Col$4,679, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 14
Full year 2022 earnings released: US$0.20 loss per share (vs US$0.016 profit in FY 2021) Full year 2022 results: US$0.20 loss per share (down from US$0.016 profit in FY 2021). Revenue: US$810.7m (up 3.8% from FY 2021). Net loss: US$115.0m (down US$124.0m from profit in FY 2021). Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Basic Materials industry in South America. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • Feb 09
CEMEX Latam Holdings, S.A. to Report Q4, 2022 Results on Feb 13, 2023 CEMEX Latam Holdings, S.A. announced that they will report Q4, 2022 results on Feb 13, 2023 Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to Col$4,051, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Basic Materials industry in South America. Total returns to shareholders of 1.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Col$4,474 per share. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improved over the past week After last week's 17% share price gain to Col$5,475, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Basic Materials industry in South America. Total returns to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Col$5,078 per share. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Mónica Aparicio Smith was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 05
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from US$0.06 to US$0.05 per share. Revenue forecast steady at US$828.5m. Net income forecast to grow 171% next year vs 14% growth forecast for Basic Materials industry in Colombia. Consensus price target down from Col$4,165 to Col$4,053. Share price was steady at Col$4,300 over the past week. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$0.001 (vs US$0.019 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.001 (up from US$0.019 loss in 3Q 2021). Revenue: US$204.3m (down 13% from 3Q 2021). Net income: US$587.0k (up US$11.3m from 3Q 2021). Profit margin: 0.3% (up from net loss in 3Q 2021). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Basic Materials industry in South America. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Annonce • Oct 11
CEMEX Latam Holdings, S.A. to Report Q3, 2022 Results on Oct 27, 2022 CEMEX Latam Holdings, S.A. announced that they will report Q3, 2022 results on Oct 27, 2022 Buying Opportunity • Oct 04
Now 21% undervalued Over the last 90 days, the stock is up 47%. The fair value is estimated to be Col$5,687, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Aug 06
Now 27% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be Col$4,398, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jul 31
Second quarter 2022 earnings released: US$0.011 loss per share (vs US$0.028 profit in 2Q 2021) Second quarter 2022 results: US$0.011 loss per share (down from US$0.028 profit in 2Q 2021). Revenue: US$206.4m (down 9.4% from 2Q 2021). Net loss: US$6.19m (down 139% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 11%, compared to a 14% growth forecast for the industry in Colombia. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Jun 14
Now 21% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be Col$3,915, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 307% in the next 2 years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 21% share price gain to Col$3,200, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Basic Materials industry in South America. Total loss to shareholders of 30% over the past three years. Reported Earnings • May 02
First quarter 2022 earnings: Revenues miss analyst expectations First quarter 2022 results: Revenue: US$208.5m (down 8.5% from 1Q 2021). Net income: US$4.75m (up 24% from 1Q 2021). Profit margin: 2.3% (up from 1.7% in 1Q 2021). Revenue missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 13%, compared to a 3.0% growth forecast for the industry in Colombia. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Mónica Aparicio Smith was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 15
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: US$0.016 (up from US$0.22 loss in FY 2020). Revenue: US$781.2m (down 1.1% from FY 2020). Net income: US$9.01m (up US$129.6m from FY 2020). Profit margin: 1.2% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 152%. Over the next year, revenue is forecast to grow 22%, compared to a 3.7% growth forecast for the industry in Colombia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Annonce • Feb 10
CEMEX Latam Holdings, S.A. to Report Q1, 2022 Results on Apr 28, 2022 CEMEX Latam Holdings, S.A. announced that they will report Q1, 2022 results on Apr 28, 2022 Annonce • Feb 05
CEMEX Latam Holdings, S.A. to Report Q4, 2021 Results on Feb 10, 2022 CEMEX Latam Holdings, S.A. announced that they will report Q4, 2021 results on Feb 10, 2022 Reported Earnings • Nov 02
Third quarter 2021 earnings released: US$0.045 loss per share (vs US$0.20 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$235.5m (up 13% from 3Q 2020). Net loss: US$10.7m (loss narrowed 90% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS US$0.028 (vs US$0.019 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: US$227.8m (up 54% from 2Q 2020). Net income: US$15.9m (up 49% from 2Q 2020). Profit margin: 7.0% (down from 7.2% in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • May 03
First quarter 2021 earnings released: EPS US$0.007 (vs US$0.055 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$228.0m (up 6.4% from 1Q 2020). Net income: US$3.82m (up US$34.2m from 1Q 2020). Profit margin: 1.7% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 07
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$789.6m (down 20% from FY 2019). Net loss: US$120.6m (down US$125.1m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 07
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 15%, compared to a 13% growth forecast for the Basic Materials industry in Colombia. Reported Earnings • Feb 15
Full year 2020 earnings released: US$0.22 loss per share (vs US$0.008 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$789.6m (down 20% from FY 2019). Net loss: US$120.6m (down US$125.1m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Feb 15
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 11%, compared to a 12,378% growth forecast for the Basic Materials industry in Colombia. Annonce • Jan 28
CEMEX Latam Holdings, S.A.(BVC:CLH) dropped from FTSE All-World Index (USD) CEMEX Latam Holdings, S.A.(BVC:CLH) dropped from FTSE All-World Index (USD) Is New 90 Day High Low • Dec 23
New 90-day high: Col$3,260 The company is up 16% from its price of Col$2,805 on 23 September 2020. The Colombian market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Col$6,754 per share. Is New 90 Day High Low • Dec 05
New 90-day high: Col$3,235 The company is up 20% from its price of Col$2,685 on 04 September 2020. The Colombian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Col$5,500 per share. Is New 90 Day High Low • Oct 31
New 90-day high: Col$3,205 The company is up 81% from its price of Col$1,770 on 31 July 2020. The Colombian market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Col$11,405 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total losses of US$132.2m, with earnings decreasing by US$149.3m from the prior year. Total revenue was US$808.2m over the last 12 months, down 20% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 3.2% at US$209.1m. Revenue is forecast to grow 6.2% over the next year, compared to a 2.5% growth forecast for the Basic Materials industry in Colombia. Annonce • Sep 09
CEMEX Espana, S.A. made an offer to acquire remaining 26.83% stake in CEMEX Latam Holdings, S.A. (BVC : CLH) for approximately COP 490 billion. CEMEX Espana, S.A. made an offer to acquire remaining 26.84% stake in CEMEX Latam Holdings, S.A. (BVC : CLH) for approximately COP 490 billion on September 7, 2020. Under the terms, 149.6 million shares will be acquired at a price of COP 3,250 per share. The transaction is subject to approval from Colombian Financial Superintendency. Annonce • Jul 08
CEMEX Latam Holdings, S.A. to Report Q2, 2020 Results on Jul 27, 2020 CEMEX Latam Holdings, S.A. announced that they will report Q2, 2020 results on Jul 27, 2020 