Cemex SAB, the largest cement maker in the Americas, reported operating earnings that beat analysts’ estimates as a housing recovery deepened in the U.S., its biggest market. Operating earnings before interest, taxes, depreciation and amortization climbed 16 percent to $701 million. Analysts had estimated $680 million on average for Ebitda. Sales fell 1 percent to $3.84 billion, matching estimates, and were up 5 percent when taking into account investments, divestments and currency fluctuations. Cemex gets about a quarter of its revenue from the U.S., where housing starts rose more than forecast in December, capping the best year since 2007. With its home economy still struggling to recover, Monterrey, Mexico-based Cemex has depended on its northern neighbor to pull it back from the brink of default in 2009.