Southern Copper beats Q3 2026 estimates with record sales and a $1.30 dividend
As seen on the 24/7 Wall St. homepage on October 21, 2026.
Southern Copper's operating cash cost fell to $0.09 per pound net of by-product credits, the kind of cushion that keeps payouts coming. A $1.30 quarterly dividend plus a stock dividend is already declared for November 19.
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Southern Copper reported Q3 2026 GAAP earnings per share of $2.15, beating expectations, with revenue and net income both higher than a year ago.
Operating cash cost per pound of copper fell to $0.09 net of by-product credits, a cushion that keeps cash coming even if copper prices pull back. Management declared a $1.30 quarterly cash dividend plus a stock dividend of 0.0106 shares per share, payable November 19 to shareholders of record as of November 3.
Copper prices rose 44.4% year over year, and gold, silver, zinc and molybdenum all gained as well. Those moves widened the adjusted EBITDA margin and lifted smelter and refinery output in the quarter.
This marks the fourth consecutive quarter in which Southern Copper has exceeded EPS expectations, a streak that reflects both commodity tailwinds and what CEO German Larrea described as disciplined cost control. Larrea noted that Q3 set records for net sales, adjusted EBITDA, and net income. The earnings call is scheduled for October 22 at 11:00 AM ET.
The Tia Maria greenfield project in Peru is targeted for operations in the first half of 2028, while the El Pilar project in Mexico began early site preparation in September 2026. Together those projects are expected to add roughly 156,000 tonnes of refined copper annually and push total production past one million tonnes, part of a decade-long capital program aimed at reaching 1.6 million tonnes per year.
Mentioned: SCCO