---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-000707"
form_type: "8-K"
ticker: "SCCO"
cik: "0001001838"
company_name: "SOUTHERN COPPER CORP/"
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T09:40:10.807033+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Southern Copper Q4 net income falls 50.7% YoY to $445M; declares $0.80 dividend

## Summary
- Q4 net sales $2,295.6M, down 18.6% YoY; FY2023 sales $9,895.8M, down 1.5% YoY.
- Q4 adjusted EBITDA $1,055.5M (-35.3% YoY); FY2023 adjusted EBITDA $5,029.5M (-6% YoY).
- FY2023 EPS $3.14 (down 7.9% from $3.41); net income margin 24.5% vs 26.3% in 2022.
- Board declared $0.80/share dividend payable Feb 29, 2024 to holders of record Feb 13, 2024.
- 2023 copper production 911,014 tons (+1.8% YoY); 2024 guidance 935,900 tons (+2.7%).

## SEC filing metadata
- accession: 0001558370-24-000707
- form_type: 8-K
- ticker: SCCO
- cik: 0001001838
- company_name: SOUTHERN COPPER CORP/
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001838/000155837024000707/0001558370-24-000707-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001838/000155837024000707/scco-20240202x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-000707
- JSON: https://secwatch.observer/filing/0001558370-24-000707.json
- Plain text: https://secwatch.observer/filing/0001558370-24-000707.txt

## Key facts
- Earnings Releases
  SOUTHERN COPPER CORP/ reported full year ended December 31, 2023 results: revenue $9,895.8 million, net income $2,425.2 million.
  - Period: full year ended December 31, 2023
  - Revenue: $9,895.8 million
  - Net income: $2,425.2 million
  - Result: reported results
  source text: ● 2023 Net sales were $9,895.8 million, this is $152 million or 1.5% lower than 2022 net sales. This result was driven by higher sales volumes for copper (+2.2%) and molybdenum (+2.3%) and better prices for molybdenum (+27.5%) and silver (+7.6%). This situation was partially offset by a decrease in metal prices for copper (LME -3.8%) and zinc (-24.1%) and by a reduction in the sales volume of silver (-4.3%) and zinc (-1.4%). Net sales in 2023 were negatively impacted by a year accounting adjustment of $406.0 million for lower metal prices on sales. In addition to this, we estimate that 2023 sales were affected by a larger copper anode inventory in process at year-end. If we exclude these two effects, 2023 sales would have been 3.2% higher than the 2022 mark. ● Net income was $2,425.2 million, 8.1% lower than in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001838/000155837024000707/0001558370-24-000707-index.htm
- Earnings Releases
  SOUTHERN COPPER CORP/ reported fourth quarter ended December 31, 2023 results: revenue $2,295.6 million, net income $445.0 million.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $2,295.6 million
  - Net income: $445.0 million
  - Result: reported results
  source text: ● Net sales were $2,295.6 million, which represents a drop of 18.6% versus 4Q22’s figures. Sales volumes increased for molybdenum (5.9%) but decreased for copper (-6.5%), silver (-14.8%) and zinc (-8.6%). Prices were up this quarter for copper (LME - +2.2%) and silver (+9.4%), but down for molybdenum (-13%) and zinc (-16.9%). 4Q23 vs 4Q22 net sales were negatively impacted by a quarterly accounting adjustment of $168.4 million for lower metal prices on sales. In addition to this, 4Q23 sales were down due to a larger copper anode inventory in process at year-end. ● Net income was $445.0 million, which represented a 50.7% decrease versus 4Q22’s figures.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001838/000155837024000707/0001558370-24-000707-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.