Question · Q3 2025
Benjamin M. Theurer followed up on U.S. volume performance, which was down across segments, asking about regional differences and a deeper dive into subcategories like residential, industrial/commercial, and infrastructure.
Answer
CEO Jaime Muguiro noted weaker U.S. volumes in Q3 in Florida, California, and Arizona, partially offset by growth in Texas, Colorado, and the Mid-South. He projected continued strong infrastructure demand and growth in industrial/commercial (data centers, chip factories), but anticipated weak residential demand for 2026, with recovery expected in 2027. He forecasted low single-digit U.S. demand growth next year.