Cement, concrete and aggregates supplier GCC, with business units in the United States and Mexico, announced its consolidated net sales for the first quarter of 2025 decreased by 9.6% year-on-year, to $246.5 million from the prior-year period.
The company said this was primarily due to decreased cement and concrete volumes in Mexico, as well as decreased cement volumes in the United States. These declines were partially offset by increased concrete volumes in the United States, and a favorable price environment in both markets.
For comparative purposes, consolidated net sales, excluding the depreciation of the Mexican peso against the U.S. dollar during the quarter, decreased by 3.8%.
U.S. sales for the first quarter of 2025 decreased by 3.3% to $167.7 million, representing 68% of GCC’s consolidated net sales. This was primarily due to a 4.3% decrease in cement volumes, partially offset by a 4.7% increase in concrete volumes, and a 3% and 12.1% increase in cement and concrete prices, respectively.
Mexico sales decreased by 20.7% in the quarter, to $78.8 million, representing 32% of GCC’s consolidated net sales. This decline was driven by a 12.4% and 12.7% decrease in cement and concrete volumes, respectively, partially offset by a 5.2% and 2.9% increase in cement and concrete prices.
GCC’s consolidated net income for the first quarter of 2025 was $40.6 million; a 16.9% decrease compared to $48.9 million in the prior-year quarter.
“Despite the challenges we faced during the first quarter, including adverse weather conditions and a dynamic global environment, the fundamentals of our business remain strong. Our robust project pipeline, disciplined cost control and operational agility continue to drive our resilience,” said GCC Chief Executive Officer Enrique Escalante. “As we move forward, we remain cautiously optimistic, supported by our ability to adapt quickly and leverage our competitive advantages to drive growth throughout the year.”
