Southern Copper Corporation · SCCO · FY2026 Q2 · Calendar Q3 2026
Southern Copper raises copper guidance as projects advance
The quarter supports a constructive operating case: higher copper and by-product prices, cost discipline, and advancing projects improved the outlook. The main counterweights are declining Peru ore grades, substantial capital needs, and political and execution risks.
Earnings scorecard
Reported versus consensusMarket reaction
close-to-close (session unavailable)Ask FN2 about SCCO FY2026 Q2
Transcript, numbers and history already loadedFree account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, full-year copper guidance moved higher, Tia Maria reached 42% completion versus 24% previously reported, and management highlighted a $1.25 billion senior-notes issuance to fund the project. Capital spending remained focused on Peru and Mexico growth projects.
Guidance delta
Full-year copper production guidance was raised to 917,000 tons; management expects production above 1 million tons by 2029.
Key takeaways
- Record profitability and cash flow were supported by higher copper and by-product prices and cost control.
- Copper production declined year over year because of lower Peru ore grades, partly offset by higher Mexican output.
- Capital spending increased as Tia Maria, El Pilar, and other Peru and Mexico projects progressed.
Management priorities
- Continue Tia Maria construction toward an H2 2027 start-up.
- Advance El Pilar and other Mexican projects while seeking financing for remaining Peru projects.
- Maintain cost discipline and ESG initiatives, including water and community projects.
Follow SCCO with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeCompany context
Snapshot as of publicationSouthern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Mexico, the United States, Peru, Brazil, Chile, and Other American countries. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of copper-molybdenum concentrates and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of copper, molybdenum, zinc, silver, gold and lead.…
Historical context
All SCCO earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| NEM Newmont Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -2.6% | Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth |
| RS Reliance Steel & Aluminum Co. | FY2026 Q3 · Calendar Q4 2026 | +17.4% | -0.7% | Reliance posts record quarter as pricing and volume gains drive results |
| CRS Carpenter Technology Corporation | FY2027 Q1 · Calendar Q4 2026 | — | -22.3% | Carpenter Technology sees strong aerospace demand, maintains outlook |
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +1.2% | Dow Q3: Pricing, self-help and AI demand support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- RFY2026 Q3 · October 22, 2026+4.3% EPS+10.5% move
- WDCFY2027 Q1 · October 22, 2026+12.9% EPS-6.4% move
- NEMFY2026 Q3 · October 22, 2026+12.2% EPS-2.6% move
- MEDPFY2026 Q3 · October 21, 2026+9.0% EPS-1.3% move
- MOHFY2026 Q3 · October 21, 2026+12.7% EPS+0.8% move
- PNFPFY2026 Q3 · October 21, 2026+2.7% EPS+2.3% move
Missed on EPS
- SSBFY2026 Q3 · October 21, 2026-4.2% EPS+2.4% move
- ROLFY2026 Q3 · October 21, 2026-1.4% EPS+5.6% move
- GGGFY2026 Q3 · October 21, 2026-2.5% EPS-16.6% move
- GL-PDFY2026 Q3 · October 21, 2026-1.2% EPS— move
- GLFY2026 Q3 · October 21, 2026-1.2% EPS-3.8% move
- METAFY2026 Q3 · October 21, 2026-41.4% EPS+0.5% move
Get the SCCO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-28T21:03:37.503003+00:00
- FN2 earnings calendar · 2026-08-27T01:23:13.912278+00:00
- Polygon adjusted daily market bars · 2026-10-23T00:40:41.119646+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-23T00:40:41.116721+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-23. For educational purposes only; not investment advice.