Loma Negra reported third quarter 2026 results showing a revenue miss compared to analyst estimates, primarily due to a 6.3% year-over-year decline in cement sales volumes. Performance was hampered by heavy rainfall in July and August, although a significant recovery in activity was observed in September as weather conditions improved. Despite lower sales, the company achieved a net profit of $23 million (excluding inflation-adjusted accounting impacts), benefiting from reduced foreign exchange losses and improved financial income, which resulted in an earnings beat for the quarter.
Key Highlights
- Net sales reached $177 million (non-IAS 29 basis), missing the $183.4 million estimate due to subdued construction activity.
- Cement, masonry, and lime sales volumes fell to 1.28 million tons, a 6.3% decrease from the previous year's 1.37 million tons.
- Adjusted EBITDA margin stood at 20.1% on an inflation-adjusted basis, down 74 basis points year-over-year as railroad and aggregate segments underperformed.
- Net debt leverage improved to 1.00x LTM Adjusted EBITDA, down from 1.49x a year ago, further bolstered by a subsequent $150 million corporate bond issuance to refinance short-term debt.