CARIBBEAN Cement Company Limited (CCC) was featured as Cemex’s noteworthy market in its South, Central America and the Caribbean (SCAC) segment which saw a six per cent rise in revenue to US$295 million for the third quarter.

CCC generated $8.07 billion (US$50.07 million) in consolidated revenue for the third quarter (July to September), a 30 per cent improvement over the $6.21 billion generated in the comparative period. The increase in sales was attributed to increased production capacity following the recent US$42-million ($6.7-billion) debottleneck project which was officially commissioned in June. CCC produced a record 109,682 metric tonnes of cement in July, exceeding the 103,869 metric tonnes figure set in March 2021.

The Jamaican cement company also had improved weather conditions in Q3 2025 compared to Q3 2024 which had heavy rainfall activity, including the passage of Hurricane Beryl. CCC had its annual maintenance shutdown during Q3 2024 compared to the current period where the event occurred in Q2 2025. These positive factors have contributed to the company’s sales exceeding $8 billion for each reported quarter in 2025.

“This strong performance was driven by several factors: the completion of the debottlenecking project in Jamaica, allowing us to substitute low-margin imports with domestically produced cement; benefits from savings realised under Project Cutting Edge; improved demand conditions in both Colombia and Jamaica; and a more favourable prior-year comparison base,” said Louisa “Lucy” P Rodriguez, chief communications officer of CEMEX SAB de CV during Tuesday’s earnings call.

She added, “In Jamaica, we are seeing tourism-related developments, along with improved bag cement sales supported by remittances.”

The recent expansion investment also resulted in CCC’s gross profit margin for the third quarter reaching 50 per cent. This means that the company kept $0.50 out of every $1 generated in revenue after account for its cost of sales.

While the company’s gross profit increased 131 per cent from $1.76 billion to $4.05 billion, the prior period saw CCC importing cement to cover the gap formed from its annual maintenance exercise. The imported cement carries lower margins for the business which also saw an increase in repairs and maintenance costs during that period.

After accounting for operating expenses, CCC’s operating profit before other income and expenses grew 228 per cent from $1.01 billion to $3.31 billion. CCC benefited from a $196.96-million insurance claim and paid $171.15 million, a 30 per cent increase, in royalty and service fees to other Cemex subsidiaries in Q3 2025. The company had a lower net financial expense and reported a foreign exchange loss during the quarter.

As a result of these factors, CCC reported $3.23 billion in profit before tax (PBT), a 307 per cent increase over the $794.56 million in Q3 2024. Net profit for the period was $2.29 billion with an earnings per share (EPS) of $2.70.

For the nine months period, CCC’s consolidated revenue improved 14 per cent to $24.40 billion with gross profit coming in slightly higher at $9.39 billion. Although CCC had a four per cent rise in PBT to $6.49 billion, a 26 per cent rise in its tax bill to $1.66 billion resulted in net profit declining two per cent to $4.83 billion. EPS for the nine months was $5.68 with the trailing 12 months EPS at $6.90.

“During the quarter, Carib Cement achieved an average reduction of 35 kilogrammes of CO2 per tonne of cement produced. This substantial decrease is directly linked to the successful implementation of the debottleneck project, which involved a series of targeted technological and process upgrades. Central to this was the installation of a new main baghouse and kiln stack, which has significantly improved the capture of particulate matter and enhanced overall production efficiency,” stated the third quarter report signed by Chairman Paris A Lyew-Ayee and Managing Director Jorge Martinez Mora.

CCC’s total assets increased 10 per cent over the nine months to $44.96 billion with the company spending $3.96 billion in capital expenditure which pushed its property, plant and equipment to $30.30 billion. Cash and cash equivalents also increased to $9.13 billion with $8.6 billion (US$53.7 million) held in a deposit investment account with CEMEX Innovation Holdings Limited. Total liabilities stood at $13.63 billion as deferred income tax liabilities grew 35 per cent to $3.94 billion. Shareholder’s equity increased 11 per cent to $31.33 billion which translated to a book value of $36.81.

CCC’s share price closed Friday, October 24 at $92.41 which leaves the stock up nine per cent in 2025 with a market capitalisation of $78.66 billion. This translates to a price to earnings ratio of 13.39 times and a price to book ratio of 2.51 times. CCC’s stock hit a new 52-week high of $106 on September 30 with that price also being the best bid price at the end of trading.

CCC paid a $2.0979 dividend totalling $1.79 billion on September 16 to shareholders on record as of July 28. With $7.4642 per share or $6.35 billion in dividends paid since September 2022, Trinidad Cement Limited (TCL) and Cemex have collected $5.02 billion since then. CCC’s third quarter report revealed that $221 million in dividends have not been collected by shareholders and is restricted to 12 years before it can be written back to the company’s books. TCL and Cemex own 79.04 per cent of CCC’s ordinary shares.

While Cemex remains on top of the shareholder list, there have been some notable changes in the top 10 shareholding list. Sagicor Pooled Equity Fund and Sagicor Sigma Equity had minimal declines in their holdings during the third quarter while remaining the fourth and fifth largest shareholders with 1.22 per cent and 1.00 per cent, respectively. However, ATL Group Pension Fund Trustees Nominee Limited emerged as the eighth largest shareholder during the quarter with 6,119,150 shares or 0.72 per cent of the company. PAM – Pooled Equity Fund, managed by the VM Group, has bought an additional 313,722 shares during the first nine months to increase its position to 6,054,339 shares. Barita Investments Limited bought 1,174,773 shares during the quarter to remain the 10th largest shareholder with 5,162,301 shares. The Barita Capital Growth Fund occupied the 10th largest spot with 3.59 million shares at the end of March before Barita Investments took the slot during the June period.