Jul 24, 2024 / 02:00PM GMT
Hector Enrique Escalante Ochoa - GCC SAB de CV - Chief Executive Officer
Q3 of this year. Oil and gas related cement demand remains strong with this decline offsetting volume shortages in other segments during the second quarter. Along these lines on July first, we implemented a $15 per ton price increase for our oil well clients.
As a brief update on the infrastructure investment and job site related infrastructure demand remains consistent with normal levels for the quarter to date, we are not seeing the Jobs Act driven delta. The industry had initially expected as part of this incremental funds appear to have been offset by the construction cost inflation to which I have referred.
Turning to Mexico, favorable fuel and power costs enabled solid second quarter margins. Results were influenced by reduced demand ahead of the Mexican elections also with deceleration in industrial project inquiries due to continued power supply constraints.
However, construction of the Terra Nova power substation requires continued during the second quarter and remains on track for completion in
Q2 2024 GCC SAB de CV Earnings Call Transcript
Jul 24, 2024
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