By Kylie Madry

MEXICO CITY, July 23 (Reuters) - Mexican cement producer Cemex CEMEXCPO.MX on Thursday increased its 2026 core earnings expectations, as it continued to benefit from a restructuring programme and solid sales growth.

Cemex reported a 9% year-on-year net profit increase in the second quarter to $347 million, while its core earnings measured by EBITDA (earnings before interest, tax, depreciation and amortisation) jumped 24% to $1.02 billion.

One of the world's largest cement makers, Cemex lifted its 2026 EBITDA growth forecast to 16% to 17%, from previous guidance for growth in the high single digits. The result beat analysts' average estimate of $937.4 million.

Sales rose 12% in the second quarter to $4.09 billion, with growth in all four regions where the company operates.

Within those regions, "Mexico continued to outperform expectations, driven by cost efficiencies, improving demand, and operating leverage," the company said in a statement.

Excluding a one-off favourable settlement in Europe, sales increased 11% and EBITDA rose 19% from a year earlier.

The company also raised its savings target from its restructuring program to $475 million, from the prior $400 million registered on its savings plan, stating that 80% of the original target has been achieved.

Most new savings from the raised target are expected in 2027, Cemex added.