SOUTHERN COPPER CORP/ (SCCO): Results of Operations and Financial Condition
SOUTHERN COPPER CORP/ (SCCO) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 scco-20260721xex99d1.htm EX-99.1 Exhibit 99.1 RESULTS Second Quarter and Six Months 2026 July 21, 2026 Investor Relations: Southern Copper Corporation (NYSE and BVL: SCCO) Raul Jacob Victor Pedraglio Bertin Galarreta +(602) 264-1375 ● 2Q26 net sales were $4,289.
How this was made
The 30-second read
Why it matters
The filing provides fresh, decision-relevant datapoints: record net income and adjusted EBITDA, a dramatic drop in operating cash cost per pound (net of by-product credits), and a new $1.25B 10-year note issuance earmarked for the Tia Maria project, alongside a declared quarterly dividend.
Market read
Traders can update models for SCCO’s margin and cash-cost trajectory and factor in near-term capital structure and dividend expectations.
What to watch
Copper production declined QoQ and YTD due to lower Peruvian ore grades, which could cap volume growth even as margins look strong.
Background
This is an SEC 8-K (Item 2.02) with Exhibit 99.1 covering Southern Copper’s second quarter and six months 2026 results.
Ticker impact
Southern Copper reported 2Q26 net sales of $4.289B (+40.6% YoY) and record net income of $1.670B (+71.6%).
Likely supportive for near-term sentiment given record earnings and improved cash costs, though copper price sensitivity remains the key swing factor.
The filing discloses concrete quarterly and YTD financial results, operating cash cost per pound, and a specific financing action (10-year notes at 5.35%) for a major project.
Market effects
Reinforces read-through that copper-linked producers can see margin expansion when by-product credits rise and realized prices outperform.
Highlights Peru project execution and political transition backdrop, which can affect perceived execution risk for copper supply.
Supports broader copper complex sentiment via company-level evidence of strong cash generation amid volatile LME/COMEX pricing.
Counterpoint
The outperformance is heavily variance-driven by metal prices and by-product credits, so results may not translate 1:1 to future quarters if copper and by-product spreads mean-revert.
Key entities
- issuerSouthern Copper Corporation
Reported 2Q26 record net income and adjusted EBITDA, lower operating cash costs, and issued $1.25B of 10-year notes for Tia Maria.
- subsidiary/branchSouthern Peru Copper Corporation (SPCC)
Peruvian branch identified as the exclusive user of note proceeds for Tia Maria development and capex.
- projectTía María project
Financed via $1.25B 10-year notes; expected initial refined copper production in 2H27 using SX-EW technology.
