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Earlier this year, the company played a major role in addressing the cement shortage and supply chain disturbances in the Western states. CX invested $15 million to recommission a kiln production facility in Mexico to meet surging demand for cement and other construction materials in California, Arizona, and Nevada. As a result, the company’s revenues increased 335% year-over-year to $3.86 billion in its fiscal second quarter ended June 30. Its earnings per ADS rose 2,353% from the prior-year quarter to $0.18.
This trend is likely to continue because CX is expected to benefit significantly from the $1 trillion infrastructure package to restructure U.S. infrastructure that is now working its way through the U.S. Senate. .
