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Get filing alertsSouthern Copper reports record Q2 results, declares $3.23 total dividend per share
Filed July 22, 2026 · Period ending July 21, 2026 · ~1 min read
Key Changes
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Net income hit record $1.67B, up 71.6% YoY, on $4.29B net sales (+40.6% YoY), driven by copper prices up 39.8% (LME) and molybdenum +43.1%.
Exhibit 99.1 view on EDGAR → -
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Operating cash cost per pound fell 93% to $0.05 from $0.63 YoY, driven by 51.4% increase in by-product revenue credits from higher molybdenum, zinc, and silver prices.
Exhibit 99.1 view on EDGAR → -
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Board authorized quarterly cash dividend of $1.10 plus stock dividend of 0.0120 shares per share (total ~$3.23), payable August 27 to shareholders of record August 11.
Item 2.02 verify on EDGAR → -
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Issued $1.25B in 10-year senior unsecured notes at 5.350% on June 24, 2026, to fund Tia Maria project development (120,000 tonnes annual copper capacity, production targeted H2 2027).
Exhibit 99.1 view on EDGAR → -
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Net income margin expanded to 38.9% from 31.9% YoY, reflecting strong operational leverage from higher metal prices despite 1.5% decline in copper sales volumes.
Exhibit 99.1 view on EDGAR →
Summary
Southern Copper delivered a blowout Q2 2026, with net income surging 71.6% to a record $1.67 billion on $4.29 billion in net sales (+40.6% YoY). The performance was driven by a powerful commodity tailwind: copper prices rose nearly 40% on the LME, while molybdenum, zinc, and silver all posted double-digit gains.
Operating cash cost per pound of copper plummeted 93% to just $0.05, cementing the company's position among the world's lowest-cost producers. The margin expansion to 38.9% from 31.9% demonstrates exceptional operating leverage, even as copper sales volumes dipped 1.5%. The Board responded with a robust $3.23 total dividend per share (cash plus stock equivalent), payable in August.
Separately, the company raised $1.25 billion in 10-year debt at 5.350% to fund the Tia Maria project in Peru, which is expected to add 120,000 tonnes of annual copper capacity starting in H2 2027. For holders, the combination of record profitability, rock-bottom costs, and aggressive capital return underscores the company's ability to capitalize on the current copper cycle. The Tia Maria financing sets up meaningful production growth into 2028, though execution risk on the new project warrants monitoring.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Item 2.02 — Results of Operations and Financial Condition filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Southern Copper Corporation (“SCC”) issued a press release announcing financial results for the second quarter ended on June 30, 2026
Southern Copper announced its Q2 2026 financial results via press release on July 21, 2026. The 8-K does not provide specific financial metrics in the body text; detailed results are contained in the attached Exhibit 99.1 press release.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
2Q26 net sales were $4,289.0 million, up 40.6% over 2Q25’s figure and a new quarterly record. Growth was primarily fueled by an increase in metal price variances for copper (LME, +39.8%; COMEX, 30.5%), molybdenum (+43.1%), zinc (30.8%) and silver (+118.6%). These positive variances were partially offset by a decrease in sales volumes for copper (-1.5%) and our main by-products.
Southern Copper achieved record quarterly net sales of $4,289.0 million in Q2 2026, a 40.6% increase over Q2 2025. The growth was driven primarily by higher metal prices: copper prices rose 39.8% on the LME and 30.5% on COMEX, molybdenum increased 43.1%, zinc rose 30.8%, and silver surged 118.6%. These gains were partially offset by a 1.5% decline in copper sales volumes and lower by-product volumes.
Added in current filing · view on EDGAR →
2Q26 net income hit a record high of $1,670.0 million, up 71.6% versus the $973.4 million registered in 2Q25 on the back of higher net sales. The net income margin in 2Q26 stood at 38.9%, versus 31.9% in 2Q25.
Net income reached a record $1,670.0 million in Q2 2026, up 71.6% from $973.4 million in Q2 2025, driven by higher net sales. The net income margin expanded to 38.9% from 31.9% in the prior-year quarter, reflecting strong operational leverage from higher metal prices.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 23, 2026 · How we verify