GCC, a supplier and producer of cement and concrete in the United States and Mexico, announced consolidated net sales increased 11.8% to $352.8 million for the third quarter of 2022.
EBITDA increased 6.6% to $117.4 million during the quarter with a 33.3% EBITDA margin.
“Once again, we had an outstanding performance. Third quarter results reflect GCC’s continued success in mitigating the impacts of today’s extraordinary inflation, as well as industry and market headwinds,” said Enrique Escalante, GCC’s chief executive officer. “Our competitive advantages ensure our plants’ steady operation with product availability to our customers, despite today’s tight supply environment.”
The producer reported that U.S. sales increased 10.4% as cement and concrete volumes increased 2.2% and 7.7%, respectively. If excluding oil well cement, cement volumes remained unchanged. Cement and concrete prices in the United States increased 12.2% and 4.2%, respectively, during the third quarter.
Mexico sales increased by 16.8% in the quarter reflecting a 2.4% increase in concrete volumes. Cement and concrete prices in the country increased by 13.5% and 7.9%, respectively.