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Southern Copper Corp (SCCO)
NYSE:SCCO
Holding SCCO?
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.06Last Year’s EPS
0.57Same Quarter Last Year
Moderate Sell
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2018
|% Change Since: -12.24%
|Next Earnings Date:Jul 24, 2018
Earnings Call Sentiment|Positive
The earnings call for Southern Copper Corporation's third quarter of 2024 highlighted significant financial growth, including increased sales, net income, and adjusted EBITDA. The company's projects, particularly Tia Maria, are showing progress, and production levels for zinc and silver have seen substantial increases. However, there are some concerns, such as a decline in molybdenum prices, regulatory challenges in Mexico and Peru, and ongoing issues with illegal mining at the Los Chancas site. Despite these challenges, the positive aspects of the earnings call are more pronounced, indicating a strong overall performance.Company Guidance
During Southern Copper Corporation's Q3 2024 earnings call, executive Raul Jacob provided comprehensive guidance on the company's performance and outlook. The company reported a 17% increase in sales to $2.9 billion, driven by a 21% rise in copper sales value and an 8% increase in volume. Copper production rose by 11% from the previous quarter, reaching 252,219 tons, with a forecast of 975,000 tons for 2024. Molybdenum, representing 10% of sales, saw a 6% production increase despite an 8% price decrease. Silver and zinc production increased significantly, with silver sales up 46% and zinc mine production up 91%. The adjusted EBITDA for Q3 2024 was $1,685 million, a 31% increase from Q3 2023, with an EBITDA margin of 57%. The operating cash cost, including by-product credits, was $0.76 per pound of copper. The company also announced a quarterly cash dividend of $0.70 per share and a stock dividend, indicating a balanced approach to shareholder returns amidst ongoing capital investments exceeding $15 billion.Increase in Copper Prices
The London Metal Exchange copper price increased 10% from an average of $3.79 per pound in the third quarter of 2023 to $4.17 in the third quarter of 2024.
Significant Growth in Zinc Production
Zinc mine production increased by 91% in the third quarter of 2024 compared to the same period in 2023, mainly due to new production at the Buenavista Zinc concentrator.
Record Sales and Revenue Growth
Sales increased by 17% in the third quarter of 2024 compared to the same period in 2023, with total sales reaching $2.9 billion.
Substantial Increase in Net Income
Net income in the third quarter of 2024 was $897 million, representing a 45% increase compared to the third quarter of 2023.
Adjusted EBITDA Growth
Adjusted EBITDA for the third quarter of 2024 was $1,685 million, a 31% increase from the same period in 2023, with an adjusted EBITDA margin of 57%.
Positive Developments in Tia Maria Project
Progress on the Tia Maria project includes a CapEx budget of $363 million for 2025, with the project expected to generate significant employment opportunities.
Increase in Silver Prices and Production
Silver prices increased by 25% in the third quarter of 2024 compared to the same period in 2023, with mined silver production increasing by 22%.
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SCCO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SCCO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $111.01 | $113.16 | +1.94% |
| Jul 19, 2024 | $101.52 | $101.84 | +0.32% |
| Apr 25, 2024 | $105.55 | $108.05 | +2.37% |
| Feb 02, 2024 | $78.19 | $76.24 | -2.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Southern Copper Corp (SCCO) report earnings?
Southern Copper Corp (SCCO) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Southern Copper Corp (SCCO) earnings time?
Southern Copper Corp (SCCO) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SCCO EPS forecast?
SCCO EPS forecast for the fiscal quarter 2024 (Q4) is 1.06.
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