Core Insights - Southern Copper (SCCO) reported quarterly earnings of $1.01 per share, slightly missing the Zacks Consensus Estimate of $1.02 per share, but showing an increase from $0.57 per share a year ago, resulting in an earnings surprise of -0.98% [1] - The company posted revenues of $2.78 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.16% and increasing from $2.3 billion year-over-year [2] - Southern Copper has outperformed consensus EPS estimates three times over the last four quarters, indicating a generally positive trend in earnings performance [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.26 on revenues of $2.77 billion, while for the current fiscal year, the estimate is $4.63 on revenues of $11.61 billion [7] - The estimate revisions trend for Southern Copper is mixed, leading to a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Mining - Non Ferrous industry, to which Southern Copper belongs, is currently ranked in the bottom 37% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Southern Copper's stock performance [5]

Financial Performance - 4Q24 net sales reached $2,784.3 million, a 21.3% increase from 4Q23, driven by higher sales volumes for copper (+5.4%), zinc (+59.4%), and silver (+21.6%) [1] - 2024 net sales hit a record high of $11,433.4 million, up 15.5% from 2023, primarily due to increased sales volumes for copper (+5.5%), molybdenum (+7.9%), zinc (+44.6%), and silver (+15.7%) [1] - 4Q24 net income was $793.9 million, a 78.4% increase compared to $445.0 million in 4Q23, with a net income margin of 28.5% [1] - 2024 net income totaled $3,376.8 million, a 39.2% increase from 2023, with a net income margin of 29.5% [1] - 4Q24 adjusted EBITDA was $1,506.7 million, a 42.7% increase from $1,055.5 million in 4Q23, with an adjusted EBITDA margin of 54.1% [1] - 2024 adjusted EBITDA reached $6,406.1 million, up 27.4% from 2023, with an adjusted EBITDA margin of 56.0% [1] - Operating income for Q4 2024 was $1,307.3 million, a 50.5% increase from $868.7 million in Q4 2023 [41] - Net income attributable to Southern Copper Corporation for 2024 was $3,376.8 million, a 39.2% increase from $2,425.2 million in 2023 [41] Production and Operations - 2024 copper production increased by 6.9% YoY to 973,851 tons, with significant growth in Peruvian (+10.7%) and Mexican (+4.3%) operations [2] - Mined zinc production surged 154.9% in 4Q24, attributed to the full ramp-up of the Buenavista Zinc concentrator [2] - Total copper production in 2024 was 977,200 tons, up 6.6% from 916,419 tons in 2023, with mined copper increasing by 6.9% to 973,851 tons [39] - The company reported a total of 2,057.7 million pounds of copper produced in Year 2024, an increase from 1,935.4 million pounds in Year 2023 [59] Costs and Expenses - Operating cash cost per pound of copper decreased to $0.96 in 4Q24, down 22.5% from $1.25 in 4Q23, and $0.89 for the full year 2024, a 13.9% reduction from 2023 [5] - Operating cash cost before by-product revenues for Q4 2024 was $1,158.9 million, up from $1,114.7 million in Q4 2023, indicating a 4.0% increase [59] - Year 2024 operating cash cost before by-product revenues totaled $4,389.5 million, up from $4,235.0 million in Year 2023, reflecting a 3.6% increase [59] - Selling, general and administrative expenses for Q4 2024 were $34.5 million, slightly higher than $33.1 million in Q4 2023, reflecting a 4.2% increase [59] Investments and Projects - The company plans to invest over $600 million in 2025 for modernization and improvements in water usage and tailings management in its Mexican operations [13] - The Michiquillay project in Peru is expected to require an investment of approximately $2.5 billion and is projected to produce 225,000 tons of copper annually starting in 2032 [25] Sustainability and Community Impact - The company achieved a 28% reduction in employee accidents involving lost-time injuries in 2024 compared to previous years [28] - The Tía María project has led to a 14% increase in crop productivity, benefiting approximately 95% of local families [29] - Southern Copper's sustainability rating improved by 9 points year-over-year, placing it among the top 10 mining companies for sustainability in 2024 [27] Financial Position - As of December 31, 2024, total assets increased to $18,713.5 million, up from $16,725.3 million in 2023, representing a growth of 11.9% [42] - Cash and cash equivalents rose significantly to $3,258.1 million in 2024 from $1,151.5 million in 2023, an increase of 183.5% [42] - Total stockholders' equity increased to $9,238.1 million in 2024, up from $7,481.2 million in 2023, a growth of 23.5% [42] - The company generated $4,421.7 million in net cash from operating activities for the year 2024, compared to $3,573.1 million in 2023, an increase of 23.7% [44] Dividends - Dividends paid in 2024 amounted to $1,637.3 million, a decrease from $3,092.4 million in 2023, indicating a reduction of 47.0% [44]

Group 1 - Southern Copper (SCCO) closed at $91.62, down 1.11% from the previous trading session, underperforming the S&P 500's loss of 0.51% [1] - Over the past month, shares of Southern Copper gained 0.53%, lagging behind the Basic Materials sector's gain of 4.34% and the S&P 500's gain of 2.87% [1] Group 2 - Southern Copper is forecasted to report an EPS of $1.02, reflecting a 78.95% increase from the same quarter last year, with revenue expected to be $2.78 billion, a 21.1% increase year-over-year [2] - Recent changes to analyst estimates for Southern Copper indicate positive sentiment regarding the company's business and profitability [3] Group 3 - The Zacks Rank system, which includes estimate changes, has a history of outperforming, with 1 stocks returning an average annual gain of +25% since 1988; Southern Copper currently holds a Zacks Rank of 3 (Hold) [5] - The consensus EPS projection for Southern Copper has increased by 0.46% in the past 30 days [5] Group 4 - Southern Copper has a Forward P/E ratio of 20.03, which is in line with the industry average [6] - The company has a PEG ratio of 1.81, compared to the Mining - Non Ferrous industry's average PEG ratio of 0.87 [7] Group 5 - The Mining - Non Ferrous industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 165, placing it in the bottom 35% of over 250 industries [7][8] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

Core Viewpoint - Southern Copper (SCCO) is expected to report a year-over-year increase in earnings due to higher revenues, with the consensus outlook being crucial for assessing the company's earnings picture [1][3]. Earnings Expectations - The consensus EPS estimate for Southern Copper is $1.02 per share, reflecting a year-over-year increase of +79% [3]. - Revenues are anticipated to reach $2.78 billion, marking a 21.1% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [4]. - The Most Accurate Estimate for Southern Copper is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -13.30%, suggesting a bearish sentiment among analysts [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the deviation of actual earnings from the consensus estimate, with positive readings being more reliable [7][8]. - Southern Copper's current Zacks Rank is 3, which complicates the prediction of an earnings beat [11]. Historical Performance - In the last reported quarter, Southern Copper exceeded the expected earnings of $1.12 per share by delivering $1.15, resulting in a surprise of +2.68% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Conclusion - While Southern Copper does not appear to be a strong candidate for an earnings beat, investors should consider other factors when making investment decisions ahead of the earnings release [16].

Company Performance - Southern Copper (SCCO) closed at $98.68, reflecting a +0.57% change from the previous trading day's closing, underperforming compared to the S&P 500's daily gain of 0.88% [1] - Over the past month, shares of Southern Copper gained 4.86%, outperforming the Basic Materials sector's gain of 1.03% and the S&P 500's gain of 1.17% [2] Earnings Expectations - Analysts expect Southern Copper to post earnings of $1.06 per share in the upcoming release, indicating a year-over-year growth of 85.96% [3] - The consensus estimate for revenue is $2.84 billion, representing a 23.57% increase compared to the same quarter last year [3] Analyst Estimates and Ratings - Recent modifications to analyst estimates for Southern Copper reflect evolving short-term business trends, with positive revisions indicating analyst optimism about the company's profitability [4] - Southern Copper currently holds a Zacks Rank of 3 (Hold), with the consensus EPS projection having moved 1.19% lower in the past 30 days [6] Valuation Metrics - Southern Copper has a Forward P/E ratio of 21.57, which is in line with the average Forward P/E of its industry [7] - The company has a PEG ratio of 1.95, matching the average PEG ratio of the Mining - Non Ferrous industry, which is part of the Basic Materials sector [8] Industry Context - The Mining - Non Ferrous industry has a Zacks Industry Rank of 151, placing it in the bottom 40% of all 250+ industries [8] - The strength of individual industry groups is measured by the Zacks Industry Rank, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [9]

Company Performance - Southern Copper (SCCO) closed at $94.60, with a +0.18% change from the previous day, outperforming the S&P 500 which fell by 0.04% [1] - The upcoming EPS for Southern Copper is projected at $1.06, indicating an 85.96% increase year-over-year, while revenue is expected to be $2.85 billion, reflecting a 24.24% increase compared to the same quarter last year [2] - For the full year, earnings are projected at $4.45 per share and revenue at $11.79 billion, representing increases of +43.09% and +19.11% respectively from the prior year [7] Analyst Estimates and Rankings - Recent changes to analyst estimates for Southern Copper indicate a shifting business landscape, with positive revisions suggesting analyst optimism about the company's profitability [3] - The Zacks Rank for Southern Copper is currently 3 (Hold), with a recent 1.33% decline in the Zacks Consensus EPS estimate [4] - The Forward P/E ratio for Southern Copper is 21.23, which is a premium compared to the industry average of 20.62, and the PEG ratio stands at 1.48, higher than the industry average of 0.94 [9] Industry Context - Southern Copper operates within the Mining - Non Ferrous industry, which is part of the Basic Materials sector, currently ranked 170 out of over 250 industries, placing it in the bottom 33% [5] - The stock has experienced a 5.3% decline over the past month, which is better than the Basic Materials sector's loss of 8.95% but worse than the S&P 500's gain of 1.05% [6]

Company Performance - Southern Copper (SCCO) ended the latest trading session at $93.01, reflecting a +1.12% adjustment from the previous day's close, outperforming the S&P 500's gain of 1.09% [1] - Over the last month, Southern Copper's shares have decreased by 8.64%, which is better than the Basic Materials sector's loss of 8.81% but worse than the S&P 500's loss of 0.71% [1] Upcoming Earnings - The upcoming earnings release is highly anticipated, with projected earnings per share (EPS) of $1.06, indicating an 85.96% increase from the same quarter last year [2] - The Zacks Consensus Estimate for revenue is $2.85 billion, representing a 24.24% increase from the previous year [2] Full Year Estimates - For the full year, analysts expect earnings of $4.45 per share and revenue of $11.79 billion, marking increases of +43.09% and +19.11% respectively from last year [3] Analyst Estimates - Recent changes to analyst estimates are crucial for understanding near-term business trends, with positive revisions indicating a favorable business outlook [4] - The Zacks Rank system, which reflects these estimate changes, provides actionable insights for investors [5] Valuation Metrics - Southern Copper has a Forward P/E ratio of 20.68, which is higher than the industry average of 19.3, suggesting it is trading at a premium [7] - The company has a PEG ratio of 1.44, compared to the Mining - Non Ferrous industry's average PEG ratio of 0.92 [8] Industry Ranking - The Mining - Non Ferrous industry is part of the Basic Materials sector, which has a Zacks Industry Rank of 135, placing it in the bottom 47% of over 250 industries [8][9]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-14066 SOUTHERN COPPER CORPORATION (Exact name of registrant as specified in its charter) Delaware 13-3849074 (State o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): October 22, 2024 (October 17, 2024) SOUTHERN COPPER CORPORATION (Exact name of registrant as specified in its charter) Delaware 1-14066 13-3849074 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification Number) 7310 N. 16 th Street, Suite 135, Phoeni ...

Southern Copper (SCCO) came out with quarterly earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.68%. A quarter ago, it was expected that this miner would post earnings of $1.13 per share when it actually produced earnings of $1.22, delivering a surprise of 7.96%.Over the last four quarters, the company has ...