Southern Copper First Quarter 2024 Earnings: Beats Expectations

Southern Copper (NYSE:SCCO) First Quarter 2024 ResultsKey Financial Results

  • Revenue: US$2.60b (down 6.9% from 1Q 2023).

  • Net income: US$736.0m (down 9.5% from 1Q 2023).

  • Profit margin: 28% (in line with 1Q 2023).

  • EPS: US$0.95 (down from US$1.05 in 1Q 2023).

earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Southern Copper Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the US.

Performance of the American Metals and Mining industry.

The company's shares are up 3.1% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Southern Copper (1 shouldn't be ignored!) that we have uncovered.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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