Southern Copper posts 39% revenue jump and $2.15 diluted EPS for 2026

what happened

Southern Copper has published its 2026 figures, showing strong gains against the prior-year period. Revenue reached $4.7B compared with $3.38B, while net income attributable to the company rose to $1.8B from $1.11B. Diluted earnings per share climbed 62.9% to $2.15. The biggest factor was higher prices for copper, molybdenum, silver and zinc, which more than offset lower copper volumes.

Refined copper, including SX-EW output, made up 55.8% of third-quarter copper sales, up from 40.5% a year earlier, while the concentrate share fell to 27.7% from 42.4%. Mined copper output dropped 1.1% in the quarter and 2.9% over nine months, as Buenavista's improvement was not enough to cover weaker Peruvian operations. Net cash cost per pound fell to $0.09 from $0.42, helped by by-product credits.

The company expects 2026 copper production of 918,000 tonnes. The Tia Maria project is 49.6% complete, with first output targeted for the first half of 2028. The details come from an AI-generated summary of SEC filings published by TradingView.

why it matters

For copper markets, the story is that revenue growth came from prices rather than volume: the company sold less metal but earned more per pound. Lower cash costs widen producer margins when prices stay high. Investors will watch whether the output guidance and the Tia Maria timeline hold.

market impact

Southern Copper shares: double-digit revenue and profit growth supports the stock

• ▲Southern Copper shares pressure up — strong year-on-year growth in revenue and profit supports the stock

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