Cementos Argos 3Q 2026 Profits Dip 25% Year-on-Year

Medellin-based multinational cement/concrete giant Cementos Argos announced November 11 that its third quarter (3Q) 2026 net income fell 25% year-on-year, to COP$186 billion (US$56 million), from COP$247 billion (US$75 million) in 3Q 2025.

Revenues dipped 1.4% year-on-year, to COP$1.35 trillion (US$412 million) versus COP$1.36 trillion (US$415 million) in 3Q 2025.

Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise declined 10% year-on-year, to COP$323 billion (US$98 million), versus COP$361 billion (US$110 million) in 3Q 2025.

Profits and EBITDA were hurt by “higher energy costs and the appreciation of the Colombian peso” against the U.S. dollar, according to the company.

However, despite the profits decline, Cementos Argos boasted of progress on several fronts in Latin America and in the USA.

“The company continues to advance the consolidation of Argos Materials [USA] and Argos Latam as two distinct platforms, with growth strategies tailored to the opportunities within their respective geographic regions,” according to the ocmpany.

“In the United States, Argos Materials strengthened its import logistics infrastructure — establishing a permanent presence in Tampa — and continues to explore further growth opportunities.

“Within Argos Latam, cement volumes in the local Colombian market grew by 6.3% year-to-date, outpacing the industry average. Meanwhile, operations in Central America and the Caribbean maintained positive momentum, with growth in volumes, revenue, and EBITDA.

During 3Q 2026, “consolidated cement shipments reached 2.4 million tons, while concrete shipments totaled 690,000 cubic meters — representing a 15% increase,” according to the company.

In addition to the Tampa materials-import site, “which will be developed over the next two years,” Cementos Argos “is close to finalizing an agreement for a terminal in another major coastal market” in the U.S, according to the company.

“Concurrently, we continued to develop alternative sources of aggregates in the Caribbean, intended for export to the United States, with the goal of diversifying our sourcing and mitigating supply risks.

“Furthermore, more than 95 growth opportunities have been identified within target markets — comprising both new projects and potential acquisitions of existing businesses — which will be evaluated with financial discipline, prioritizing those with the greatest potential for value creation. The U.S. market continues to offer opportunities for this business,” the company added.

“Demand along the U.S. Gulf Coast is being driven by large-scale industrial projects, while in the rest of the country, it is bolstered by the construction of data centers — offsetting the slowdown in the residential segment,” according to Cementos Argos.

As for its Colombia home market, “growth in the local cement market and favorable dynamics in construction projects supported the operation’s performance,” according to the company.

“Year-to-date, local cement shipments have grown by 6.3%, outpacing the 3.6% growth recorded by the industry as a whole. Cement shipments reached 1.1 million tons, and concrete volumes reached 653,000 cubic meters — an increase of 15.5%.

“Revenue [in Colombia] totaled COP$821 billion [US$250 million], reflecting 5.7% growth, while adjusted EBITDA stood at COP$205 billion [US$62 million] — a 13.8% decrease — representing a 25% margin.

“Profitability was primarily impacted by higher coal costs (linked to a temporary market disruption caused by the El Niño phenomenon), fewer operating days due to a new public holiday in July, and the impact of the earthquake in Colombia’s southwestern region and a higher share of concrete in total sales — a segment that carries a lower margin.

“The company will continue to implement initiatives to restore margins to above 30% in Colombia over the medium term,” Cementos Argos concluded.