earnings
confidence high
sentiment positive
materiality 0.75
Southern Copper Q3 net income +44.7% to $896.7M, EPS $1.15; dividend $0.70 + stock dividend
SOUTHERN COPPER CORP/
2024-Q3 EPS reported
$3.32
revenue$8,649,000,000
- Net sales $2,930.9M (+17.0% YoY) driven by higher copper, zinc, silver volumes and prices.
- Copper production rose 11.5% to 252,219 tons; cash cost per pound fell 22.6% to $0.76.
- Board declared $0.70/share cash dividend and 0.0062 shares/share stock dividend payable Nov 21.
- Adjusted EBITDA margin improved to 57.5% vs 51.5% in Q3 2023.
- Management cites strong demand outlook supported by US economy and China stimulus.