Southern Copper Corporation 8-K
PositiveEarnings
Higher metal prices drive record Q3 sales despite lower copper volumes; board declares $1.30/share cash and 0.0106 shares/share stock dividends
Filed 2026-10-21 09:20 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 and 9M 2026 results, with a quarterly cash and stock dividend. Record Q3 sales, net income and adjusted EBITDA reflected higher metal prices; lower copper, molybdenum and silver sales volumes partly offset the price gains. The board declared a $1.30/share cash dividend and 0.0106 shares/share stock dividend, payable 11/19/2026 to holders of record 11/3/2026; cash will replace fractional shares using a $197.83/share reference price.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Net sales | $4.70B, +39.1% Y/Y | $13.2B, +38.6% Y/Y |
| Operating income | $2.82B, +59.2% Y/Y | $7.92B, +61.9% Y/Y |
| Net income attributable to SCC | $1.80B, +62.7% Y/Y | $5.05B, +66.8% Y/Y |
| Net income margin | 38.4%, vs 32.8% | 38.1%, vs 31.7% |
| Diluted EPS attributable to SCC common shareholders | $2.15, +62.9% Y/Y | $6.08, +66.6% Y/Y |
| Adjusted EBITDA, non-GAAP | $3.04B, +53.9% Y/Y | $8.61B, +56.2% Y/Y |
| Adjusted EBITDA margin, non-GAAP | 64.7%, vs 58.5% | 65.0%, vs 57.7% |
| Operating cash flow | $2.22B, +42.6% Y/Y | $5.91B, +81.3% Y/Y |
| Total copper production | 235,501 tonnes, -0.8% Y/Y | 700,770 tonnes, -2.8% Y/Y |
- Higher metal prices across products drove sales growth; zinc sales volume rose 0.8% in Q3, partly offset by lower copper, molybdenum and silver sales volumes. Q3 operating cash flow growth reflected stronger cash generation on higher sales.
- Capital investments were $516M in Q3, +47.7% Y/Y, and $1.38B in 9M, +52.9%. At 9/30/2026, cash was $4.82B, short-term investments $3.24B and long-term debt carrying value $8.00B.
- Tia Maria was 49.6% complete at 9/30/2026, with 120,000 tonnes/year of copper expected and operations planned for 1H28. El Pilar construction is planned to start in Q1 2027 and production in 2H29; its project description estimates $551M of capital investment and 29,000 tonnes/year of copper, while the chairman’s commentary cites 36,000 tonnes/year.
Guidance
No guidance in this filing.
Investor Takeaways
- Track Tia Maria’s progress toward its planned 1H28 start and El Pilar’s planned Q1 2027 construction start and 2H29 production.
The summary is written by an AI model reading the filing.
Model 005 · prompt v95 · 2026-10-21 14:36:01Z