Southern Copper reported record second-quarter results, with net sales of $4,289.0 million and net income attributable to the company of $1,670.0 million for 2Q26. Adjusted EBITDA reached a quarterly high of $2,856.0 million and operating cash flow for the first six months rose to $3,683.0 million. The board approved a $1.10 cash dividend and a 0.0120 share stock dividend payable August 27, 2026.

Financial Highlights

  • Revenue (Net sales) — $4,289.0 million in 2Q26, up 40.6% versus 2Q25 ($3,051.0 million).
  • Operating income — $2,623.2 million in 2Q26, up 65.3% versus 2Q25 ($1,587.0 million).
  • Net income attributable to Southern Copper — $1,670.0 million in 2Q26, up 71.6% versus 2Q25 ($973.4 million); net income margin 38.9%.
  • Adjusted EBITDA — $2,856.0 million in 2Q26, a 59.5% increase from 2Q25 ($1,790.9 million); adjusted EBITDA margin 66.6%.
  • Operating cash flow — Net cash provided by operating activities of $3,683.0 million for 6M26, up 116.9% versus 6M25 ($1,698.2 million).

Business Highlights

  • Metal price environment — Strong commodity prices (LME copper +39.8% YoY in 2Q26, molybdenum +43.1%, zinc +30.8%, silver +118.6%) materially drove revenue growth and by-product credits.
  • Production — Mined copper production was 230,662 tonnes in 2Q26, down 3.5% YoY; total copper production (including 3rd-party concentrate) was 232,521 tonnes in the quarter (down 3.6%).
  • By-products — Mined silver production decreased 3.8% in 2Q26 while zinc mined fell 14.5% and molybdenum mined declined 11.0% in the quarter; YTD silver mined rose 3.3%.
  • Capital investments and project progress — Capital spending was $422.8 million in 2Q26 ($864.7 million in 6M26). Tía María reached 42% completion as of June 30, 2026, with mass earthworks at 71% progress for La Tapada and major equipment procurement underway.
  • Financing and dividends — Issued $1.25 billion of 10‑year senior unsecured notes (5.350% coupon) on June 24, 2026 to support Tía María and other expenditures; Board authorized a $1.10 cash dividend and a 0.0120 share stock dividend payable August 27, 2026.

Original SEC Filing:

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