Loma Negra Compania Industrial Argentina Sociedad Anonima (LOMA) has released an update.
Loma Negra, Argentina’s leading cement producer, reported a 28% drop in net sales revenue and a 32.5% decrease in cement segment sales volumes for the second quarter of 2024, attributed to challenging economic conditions. Despite the sales volume decline, the company saw a 225.9% surge in net profit and an improved EBITDA margin, indicating significant operational efficiency and a positive trend in cement volume recovery since March. The company remains optimistic about further recovery in the industry, buoyed by the Milei administration’s stabilization program showing early signs of success.
For further insights into LOMA stock, check out TipRanks’ Stock Analysis page.
