Southern Copper Corp ( (SCCO) ) has released its Q1 earnings. Here is a breakdown of the information Southern Copper Corp presented to its investors.
Southern Copper Corporation, a major player in the mining industry, specializes in the production of copper and other valuable metals, operating primarily in Mexico and Peru. The company is recognized for its extensive copper reserves and commitment to sustainable practices.
In its latest earnings report, Southern Copper Corporation announced a record net sales figure of $11.43 billion for 2024, marking a 15.5% increase from the previous year. This growth was driven by higher sales volumes and improved prices for copper, zinc, and silver, despite a decline in molybdenum prices.
Key financial highlights include a 39.2% increase in net income, reaching $3.38 billion, and a 27.4% rise in adjusted EBITDA to $6.41 billion. The company also reported a significant boost in cash flow from operating activities, up by 23.7% to $4.42 billion. Copper production saw a 6.9% year-over-year increase, supported by robust performance across its mining operations.
Looking ahead, Southern Copper Corporation plans to maintain its production levels in 2025, with expectations to produce 967,000 tons of copper and increase zinc and silver outputs. The company continues to invest in its Mexican and Peruvian projects, aiming to enhance operational efficiency and sustainability.
Overall, Southern Copper Corporation’s strong financial performance and strategic investments position it well for future growth, as it continues to leverage its extensive resource base and commitment to sustainable mining practices.