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Benjamin M. Theurer

Research Analyst at Barclays

Benjamin M. Theurer is Managing Director and Head of Latin America Equity Research at Barclays, specializing in covering Americas Agribusiness, Latin America Consumer, and Multi-Industry sectors. He covers companies such as BRF SA and has maintained a 51.52% success rate on his recommended stocks, with his coverage highlighted by consistent sector expertise and measured performance. Theurer began his career at DWS Investments, the asset management arm of Deutsche Bank, as a buy-side analyst and deputy fund manager for Latin American equities, joining Barclays in 2011 where he advanced to his current leadership role. He holds a master's degree in International Economics from a joint program at the University of Innsbruck and Universidad Complutense de Madrid, reflecting strong academic and professional credentials.

Benjamin M. Theurer's questions to CEMEX SAB DE CV (CX) leadership

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.

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