MEXICO CITY (AP) — Mexican cement giant Cemex is reducing its 2009 operating cash flow outlook but says it will have enough money to cover its debt through mid-2011.
Hector Medina is the company's executive vice president. He says Cemex estimates its earnings before interest, taxes, depreciation and amortization to be $2.9 billion this year. That's down from an earlier outlook of $3.1 billion.
Cemex SAB de CV says its net income plunged almost 40 percent in the third quarter on a 27 percent drop in sales.
The Monterrey-based company says profits fell to $121 million in July through September, compared to earnings of $200 million in the same 2008 period. Sales declined to $4.2 billion from $5.8 billion.
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Medina spoke to analysts on Wednesday.