LafargeHolcim 3Q Earnings Rose, Sales Fell -- Update

By Yifan Wang

LafargeHolcim Ltd. (LHN.EB) said Friday that its third-quarter earnings rose, driven by strength in its North American and European businesses, and it backed its guidance for the year.

The Swiss cement maker's recurring earnings before interest, taxes, depreciation and amortization without the effects of the IFRS 16 accounting standard was 1.88 billion Swiss francs ($1.90 billion), edging up from CHF1.87 billion in the year-earlier period. Analysts estimated LafargeHolcim's Ebitda at CHF1.81 billion for the quarter, according to FactSet.

On a like-for-like basis, which accounts for divestments, recurring Ebitda rose 6.4%.

The North American and European businesses achieved strong performance because of volume growth and positive price momentum, LafargeHolcim said.

Net sales fell 3.0% from a year earlier to CHF7.14 billion, the company said. On a like-for-like basis, net sales were 4.9% higher.

LafargeHolcim backed its guidance for the full year, expecting net sales growth of 3%-5% and recurring Ebitda pre-IFRS 16 growth of at least 5% on a like-for-like basis.

Sarah Sloat contributed to this article.

Write to Yifan Wang at [e-mail]

(END) Dow Jones Newswires

October 25, 2019 05:03 ET (09:03 GMT)

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