SCCO's Q3 2025 Net Income Soars 23.5% to $1.11 Billion, Exceeding Analyst EPS Estimates

Southern Copper Corporation (SCCO) announced record-breaking financial results for the third quarter ended September 30, 2025. The company reported net sales of $3,377.3 million, marking a 15.2% increase from Q3 2024. Net income for the quarter reached $1,107.6 million, a significant 23.5% rise compared to the $896.7 million reported in the same period last year, and also a new quarterly record. Diluted earnings per share stood at $1.35, surpassing the analyst estimate of $1.26.

Strong Sales Growth Driven by By-product Volumes and Prices

The impressive net sales performance was primarily fueled by increased sales volumes of silver (+21.9%), molybdenum (+7.9%), and zinc (+7.3%). These gains, along with higher metal prices across copper (COMEX, +14.2%; LME, +6.5%), molybdenum (+12.1%), silver (+34.4%), and zinc (+1.6%), offset a slight dip in copper sales volumes (-3.6%). The company also achieved a new quarterly record for adjusted EBITDA, reaching $1,975.4 million, an increase of 17.3% over Q3 2024.

Operational Efficiency and Cost Management

Further contributing to the strong financial results was a significant reduction in the operating cash cost per pound of copper, net of by-product revenue credits, which decreased by 44.7% to $0.42 in Q3 2025 from $0.76 in Q3 2024. This improvement was mainly due to higher by-product revenue, driven by better sales volumes and prices for molybdenum, zinc, and silver. Management emphasized their commitment to enhancing productivity and cost efficiency.

Management Confident in Long-Term Fundamentals

Mr. German Larrea, Chairman of the Board, expressed satisfaction with the quarter's record performance, attributing it to the strength of the company's strategy and execution. He highlighted the significant rise in by-product production and improved metal prices as key drivers. Management remains confident in the very positive long-term fundamentals for copper and other metals, with a strategic goal to produce 1.6 million tonnes of copper at a highly competitive cost.