Southern Copper Q3 2023 Earnings Report
Key Takeaways
Southern Copper Corporation reported a strong Q3 2023, with net sales increasing by 16.2% to $2,505.6 million and net income rising by 19.4% to $619.5 million compared to Q3 2022. These improvements were driven by higher metal prices, particularly for copper, molybdenum, and silver. Copper production was slightly lower than in 3Q22, while molybdenum production increased.
Net sales increased by 16.2% compared to 3Q22, reaching $2,505.6 million.
Net income increased by 19.4% compared to 3Q22, reaching $619.5 million.
Adjusted EBITDA increased by 26.8% compared to 3Q22, reaching $1,290.6 million.
Operating cash cost per pound of copper decreased by 5.3% compared to 3Q22.
Southern Copper
Southern Copper
Southern Copper Revenue by Segment
Forward Guidance
Southern Copper expects to maintain strong cost competitiveness as they increase their production capacity over the next ten years to 1.6 million tons of copper and bolster production of their main by-products: molybdenum, zinc and silver.
Revenue & Expenses
Visualization of income flow from segment revenue to net income