NYSE$SCCO
Southern Copper Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Net sales and net income increased, driven by higher sales volumes and metal prices, coupled with strict cost control measures.
Southern Copper Corporation reported a strong Q3 2024 with a 17.0% increase in net sales and a 44.7% increase in net income compared to Q3 2023. This growth was driven by increased sales volumes across all products and higher metal prices for copper, zinc, and silver. The company also benefited from strict cost control measures.
- Net sales increased by 17.0% compared to 3Q23, driven by growth in sales volumes of all products.
- Net income increased by 44.7% compared to 3Q23, driven by increased sales and strict cost control measures.
- Copper production increased by 11.5% compared to 3Q23, reflecting higher production at all open pit operations.
- Operating cash cost per pound of copper decreased by 22.6% compared to 3Q23, mainly due to higher volumes and prices.
Headline financials
Revenue & EPS history
Southern Copper · Revenue · Quarterly
$2.93B
Revenue by segment
Southern Copper · $4.68M total across 4 segments · Q3 2023
- Silver Sales Volume (000sounces)$4.42M—94.5%
- Copper Sales Volume (tons)$225K—4.8%
- Zinc Sales Volume (tons)$24.9K—0.5%
- Molybdenum Sales Volume (tons)$6.94K—0.1%
Forward guidance
Southern Copper anticipates that current copper prices will be supported by a resilient US economy, potential FED interest rate reductions, and the impact of stimulus packages in China. The company expects long-term demand to be strong as copper's role in clean energy and AI expands.
Tailwinds
- Resilient US economy
- Potential FED interest rate reduction cycle
- Impact of stimulus package recently approved by the Chinese authorities
- Long-term demand to be stronger as copper consolidates its role as a leading player in the global shift to clean energy and AI
- Low-cost competitive organic growth strategy
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.6%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+1.8%
Avg return
30 days after
51%
37 / 73 earnings
Positive
+7.1%
Q2 2015
Best reaction
-6.5%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | +1.5% | +14.9% | |
| Q4 2025 | -4.5% | -1.0% | +12.9% | |
| Q3 2025 | +4.1% | +4.4% | +0.8% | |
| Q2 2025 | -2.7% | +1.0% | +3.1% | |
| Q1 2025 | +0.1% | -1.8% | +2.1% | |
| Q4 2024 | +0.2% | +3.4% | +2.0% | |
| Q3 2024 | +1.5% | +2.2% | -8.2% | |
| Q2 2024 | +1.2% | -2.9% | +0.9% | |
| Q1 2024 | +7.1% | +6.8% | +7.6% | |
| Q4 2023 | -4.9% | -2.1% | -3.7% | |
| Q3 2023 | -0.9% | +1.9% | +7.2% | |
| Q2 2023 | +1.4% | +1.0% | -7.4% | |
| Q1 2023 | -0.1% | +1.8% | -11.0% | |
| Q4 2022 | -3.4% | -4.6% | +0.3% | |
| Q3 2022 | -4.2% | +1.7% | +19.5% | |
| Q2 2022 | -1.8% | +1.2% | +2.9% | |
| Q1 2022 | +0.8% | -1.4% | -0.4% | |
| Q4 2021 | +0.2% | -1.1% | +17.7% | |
| Q3 2021 | -6.5% | -8.5% | -9.6% | |
| Q2 2021 | +0.7% | +1.5% | -5.4% | |
| Q1 2021 | +0.2% | -4.8% | -5.1% | |
| Q4 2020 | -1.8% | -6.5% | +10.5% | |
| Q3 2020 | +0.0% | +0.8% | +15.5% | |
| Q2 2020 | -3.9% | -5.1% | +0.5% | |
| Q1 2020 | +5.5% | +12.2% | +13.9% | |
| Q4 2019 | -3.0% | -6.9% | -21.4% | |
| Q3 2019 | -0.3% | +1.8% | +5.0% | |
| Q2 2019 | +0.1% | -0.7% | -19.8% | |
| Q1 2019 | -1.3% | -3.0% | -12.3% | |
| Q4 2018 | -1.8% | +4.3% | +19.0% | |
| Q3 2018 | -0.6% | -3.5% | -13.6% | |
| Q2 2018 | +6.9% | +7.8% | -2.6% | |
| Q1 2018 | +2.4% | -1.3% | -4.8% | |
| Q4 2017 | +3.1% | +12.2% | +20.0% | |
| Q3 2017 | +0.3% | +0.8% | -0.8% | |
| Q2 2017 | -0.1% | -0.0% | +3.5% | |
| Q1 2017 | -0.6% | -0.1% | +1.9% | |
| Q4 2016 | -0.4% | -1.7% | -3.5% | |
| Q3 2016 | +0.8% | -4.8% | +19.3% | |
| Q2 2016 | -1.7% | -2.2% | -1.2% | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | -2.9% | — | — | |
| Q3 2015 | +1.5% | — | — | |
| Q2 2015 | +7.1% | — | — | |
| Q1 2015 | +4.0% | — | — | |
| Q4 2014 | +2.9% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | -1.2% | — | — | |
| Q1 2014 | +1.6% | — | — | |
| Q4 2013 | +5.9% | — | — | |
| Q3 2013 | -0.2% | — | — | |
| Q2 2013 | +4.3% | — | — | |
| Q1 2013 | -2.0% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q3 2012 | +2.9% | — | — | |
| Q2 2012 | +3.7% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q3 2011 | -3.2% | — | — | |
| Q2 2011 | -1.3% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q4 2010 | -1.0% | — | — | |
| Q3 2010 | +3.0% | — | — | |
| Q2 2010 | -2.1% | — | — | |
| Q1 2010 | +3.5% | — | — | |
| Q4 2009 | +4.3% | — | — | |
| Q3 2008 | -2.9% | — | — | |
| Q3 2009 | -2.9% | — | — | |
| Q4 2008 | +5.3% | — | — | |
| Q4 2007 | +5.3% | — | — | |
| Q2 2008 | +5.3% | — | — | |
| Q1 2009 | +5.3% | — | — | |
| Q2 2009 | +5.3% | — | — |
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