08:56 AM EDT, 09/23/2024 (MT Newswires) -- CEMATRIX Corporation ( CTXXF ) , a North American manufacturer and supplier of technologically advanced cellular concrete products, announced Monday that "unforeseen delays on some projects" will impact the company's 2024 revenue expectations, as a portion of the 2024 forecasted revenue will now be realized in 2025.

"While we have made considerable progress on strategic initiatives and continue to grow our backlog, delays affecting multiple projects have shifted anticipated revenue into the next fiscal year," said Jeff Kendrick, CEO of CEMATRIX ( CTXXF ) in a statement.

"These delays, which are not uncommon in our industry, pushes certain projects planned for completion in 2024 to either begin later this year and extend into 2025 or start early in the new year. While this impacts our 2024 sales expectations, it sets the stage for a stronger-than-anticipated 2025."

Despite the revised outlook, Kendrick said that CEMATRIX ( CTXXF ) still expects continued strength in its 2024 margins and other key financial metrics. "We are also working closely with customers to help them mitigate further delays in their projects and to potentially speed up our production to improve their project schedule. We expect to return to strong sales growth in 2025 and we remain confident in our long-term sales growth prospects."