ARGENTINA · ECONOMY
Key Facts
- The company Loma Negra, which calls itself Argentina’s leading cement maker, trades in New York under ticker LOMA.
- What happened On Thursday 5 November 2026 it said third-quarter sales fell 3.2% in inflation-adjusted pesos.
- The profit Net profit was 14.5 billion pesos (about US$9.5 million), against a loss a year earlier.
- The weak spot Concrete sales fell 23.2% and cement volumes fell 6.3% in a rain-hit quarter.
- The debt A three-year, US$150 million bond at 6.25% was issued on 22 October.
- Power Index Argentina ranks 4th of 14 in The Rio Times Latin America Power Index, with 60.2 points (November 2026 edition).
Loma Negra, which calls itself Argentina’s leading cement maker, swung back to profit in a weak building market. Its sales slipped and its concrete sales fell by almost a quarter, yet a swing in financial results turned a loss into a profit.
Loma Negra, listed in New York as LOMA, published its third-quarter results on Thursday 5 November 2026. The company counts about 583 million shares, and each New York certificate stands for five of them.
What Happened
Net sales were 270.1 billion pesos (about US$180 million at the average rate of 1,500.51 pesos per dollar) in the three months to 30 September 2026, down 3.2% from a year earlier. That is a drop of about 9 billion pesos (about US$6 million), measured in pesos adjusted for inflation under the accounting rule IAS 29 for high-inflation economies.
In the company’s own dollar accounts, which leave out that inflation adjustment, sales rose 14.9% to US$177 million. The two views differ because the dollar cost 12.6% more pesos on average than a year earlier, and because of the adjustment.
Adjusted EBITDA, a measure of operating profit before interest, taxes and depreciation, fell 6.7% to 54.2 billion pesos (about US$36 million). In the company’s dollar accounts it rose 16.2% to US$42 million, and the margin was 20.1% in the inflation-adjusted accounts.
Cement, Concrete and Rail
Cement, masonry cement and lime volumes fell 6.3% to 1.28 million tons, the company says, because July and August were weak and rainy. Bulk cement, sold to concrete makers and builders, kept growing, while bagged cement for home repairs and self-build stayed under pressure.
Concrete volumes fell 24.9% to 0.12 million cubic metres, after fewer special projects and weaker public-works demand. Aggregates volumes, meaning crushed stone and sand, fell 16.1% and railroad volumes fell 7.0%, with the railroad margin turning to a loss of 11.0% on track maintenance costs.
Why Profit Came Back
Net profit was 14.5 billion pesos (about US$9.5 million at the quarter-end rate of 1,517.52 pesos per dollar), against a loss a year earlier. The company says the swing came mainly from a net financial gain this quarter, where last year it booked a financial loss.
Net interest expense fell 66.2%, on lower interest costs and less debt. The peso weakened less than a year ago, so net exchange-rate losses shrank by more than 80%.
Over nine months the company earned 67.8 billion pesos (about US$44.7 million at the quarter-end rate), more than three times the profit of the same period of 2025. The third quarter supplied about a fifth of that total.
In the cement business the adjusted EBITDA margin rose 0.67 percentage points to 24.9%, as higher prices outweighed higher costs. Concrete still lost money at the operating level, with a margin of negative 4.6%, a little better than negative 6.8% a year earlier.
Debt and the New Bond
Net debt fell to 220.5 billion pesos (about US$145 million), or 1.00 times the last twelve months of adjusted EBITDA. A year earlier the ratio was 1.49 times, and it was 1.30 times at the end of June.
Some 91% of the company’s debt is in US dollars, and its average maturity is 1.2 years. On 22 October 2026 it sold US$150 million of notes in the local market, with a 36-month term and a 6.25% yearly rate, to refinance short-term debts.
What It Means for You
If you own Loma Negra through New York shares, the report shows a company with falling cement demand but rising dollar earnings and less debt. Chief Executive Sergio Faifman said September volumes improved on better weather and called it an encouraging sign for the months ahead.
Cement is a simple gauge of building activity, and the company says bagged cement, bought by households for self-build and repairs, stayed weak. Bulk cement for builders and industry held up better.
What Is Not Known
The company has not said how much of the fourth quarter will recover, and its release gives only a qualitative outlook. It also has not said whether September’s gain is the start of a lasting rebound.
No dividends were paid in the quarter, according to its cash-flow statement. It is also unclear how long the financial gain, which drove the profit, will last if the peso weakens again.
More: Argentina news in English, every day from The Rio Times. Read also Argentina factory output in September.
Frequently Asked Questions
What Is Loma Negra?
It describes itself as Argentina’s leading cement producer, listed in New York as LOMA and in Buenos Aires. One New York share certificate, called an American depositary share (ADS), stands for five common shares.
Did Loma Negra Make a Profit in the Third Quarter of 2026?
Yes, 14.5 billion pesos (about US$9.5 million), against a loss a year earlier. The company says the swing came mainly from a net financial gain, not from higher sales.
Why Did Cement Sales Fall?
Cement volumes fell 6.3% to 1.28 million tons because July and August were weak, with heavy winter rain. September volumes beat the same month of 2025.
What Is the New Bond?
On 22 October 2026 the company issued US$150 million of notes at 6.25% a year, due in 36 months. The money refinances short-term debts.
Sources: Loma Negra, 3Q26 results press release and financial statements, 5 November 2026.
In depth
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