SOUTHERN COPPER CORP/ (SCCO) Earnings History

SOUTHERN COPPER CORP/ - Q1 2026 EarningsBeat

Filed at: Apr 29, 2026, 12:53 PM EDT|Read from source

EXECUTIVE SUMMARY

Southern Copper Corp reported a record-breaking first quarter with significant year-over-year growth in revenue, net income, and adjusted EBITDA, driven by strong increases in sales volumes and metal prices across its products. The company also saw a substantial improvement in operating cash flow and a significant decrease in its net copper cash cost.

POSITIVE HIGHLIGHTS

  • •

    Net income reached a new company record of $1,576.9 million, a 66.7% increase year-over-year.

    positive
  • •

    Revenue grew 36.2% year-over-year to $4,251.4 million, driven by higher sales volumes and metal prices.

    positive
  • •

    Adjusted EBITDA increased 55.4% to $2,712.8 million, with the margin expanding by 7.9 percentage points to 63.8%.

    positive
  • •

    Operating income surged 61.5% to $2,480.4 million.

    positive
  • •

    Cash flow from operating activities increased 135.0% to $1,694.5 million.

    positive
  • •

    Operating cash cost per pound of copper, net of by-product revenue credits, decreased by 114.0% to -$0.11.

    positive

CONCERNS & RISKS

  • •

    Copper production decreased by 4.0% year-over-year, primarily due to lower production at Peruvian operations.

    attention
  • •

    Molybdenum production decreased 2.2% year-over-year.

    attention
  • •

    Capital investments increased by 39.0% year-over-year to $441.9 million.

    attention
  • •

    The Los Chancas project in Peru has been prevented from further progress due to the presence of illegal miners.

    negative

FINANCIAL METRICS

Revenue
Quarterly
$4.25B
+36.2%
Prior year: $3.12B
Net Income
Quarterly
$1.58B
+66.7%
Prior year: $945.90M
EPS (Diluted)
Quarterly
$1.92
+67.0%
Prior year: $1.15
Operating Income
Quarterly
$2.48B
+61.5%
Prior year: $1.54B
EPS (Basic)
Quarterly
$1.92
+67.0%
Prior year: $1.15

MARGIN ANALYSIS

Operating Margin
Current Quarter
58.4%
Prior Year
49.2%
YoY Change
+916 bps
Net Margin
Current Quarter
37.1%
Prior Year
30.3%
YoY Change
+680 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

REVENUE BY SEGMENT — Q1 2026 2026

VISUAL OVERVIEW

|
Copper
0.0%
N/A

DETAILED BREAKDOWN

|
SegmentCurrentPrior YrYoY% Total
Copper
N/A———
Total Revenue$0.00M——100.0%

Segment performance shows business unit health and growth drivers.

EARNINGS CALL —

Call date
2026-04-29
Tone
N/A
Hedge density
N/A
Deflection rate
N/A

MANAGEMENT COMMENTARY

Reported a record-breaking quarter with net earnings of $1,576.9 million, a 67% rise compared to 1Q25.

— SOUTHERN COPPER CORP/, Q1 2026 2026 Earnings Call

The positive result was driven by higher sales volumes of silver and zinc and better prices for copper, silver, molybdenum, and zinc.

— SOUTHERN COPPER CORP/, Q1 2026 2026 Earnings Call

Cash cost decreased significantly due to higher by-product revenues and cost efficiencies.

— SOUTHERN COPPER CORP/, Q1 2026 2026 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Copper Production Tons
230.5K
-4.0% YoY
Prior year: 240.2K
tons
Molybdenum Production Tons
7.5K
-2.2% YoY
Prior year: 7.7K
tons
Operating Cash Cost Per Pound Copper Net Of By Product Revenue Credits
-0.1
-114.0% YoY
Prior year: 0.8
USD/lb
Zinc Production Tons
40.2K
+2.0% YoY
Prior year: 39.4K
tons
Silver Production 000s Ounces
6.0K
+11.1% YoY
Prior year: 5.4K
000s ounces

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.

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