Southern Copper (SCCO) Q2 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Southern Copper delivered a notably strong bottom-line performance in Q2 2025, posting earnings per share of $1.22 against a consensus estimate of $1.11, a beat of 9.59%, even as revenue of $3.05 billion fell just short of the $3.06 billion estimate … Read more Southern Copper delivered a notably strong bottom-line performance in Q2 2025, posting earnings per share of $1.22 against a consensus estimate of $1.11, a beat of 9.59%, even as revenue of $3.05 billion fell just short of the $3.06 billion estimate and declined 2.2% year-over-year. The key driver behind the earnings strength was a dramatic 17% reduction in the operating cash cost per pound of copper to $0.63, fueled by robust by-product credits from surging zinc and silver volumes, which helped lift the net income margin to 31.9% from 30.5% a year ago despite softer copper and molybdenum prices. Adjusted EBITDA held essentially flat at $1.79 billion, with margins expanding to 58.7%. Looking ahead, Southern Copper is actively engaging Mexico's federal administration to advance a $10.2 billion investment pipeline, while its Tia Maria project in Peru targets first copper production in 2027, underscoring management's confidence in long-term copper demand fundamentals even as U.S. Trade policy remains a variable to watch.