Hudbay Minerals (TSE:HBM)
NYSE:HBM
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Earnings Data
Report Date
Aug 10, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.49Last Year’s EPS
0.26Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial quarter with multiple records (revenue, adjusted EBITDA, adjusted earnings), industry-leading cost metrics, significant free cash flow generation, a strengthened balance sheet, and clear multi-year growth catalysts (Copper World, Cactus, Mason, New Ingerbelle). Challenges highlighted—grade variability, localized labor and equipment constraints, external cost pressures (fuel, labor), permitting/legal timing and remaining CapEx uncertainty—were presented as manageable and being actively mitigated. Overall, the positive operational results, robust liquidity position (despite a post-quarter reduction), strategic partnership funding, and tangible production growth outlook materially outweigh the identified near-term risks.Company Guidance
Record Quarterly Financial Performance
Record revenue of $757 million, record adjusted EBITDA of $422 million, and record adjusted net earnings of $159 million ($0.40 per share) in Q1 2026, driven by higher realized metal prices and margin expansion.
Strong Production Volumes
Consolidated Q1 production: 28 thousand tonnes of copper and 62 thousand ounces of gold, with higher mill throughput across operations versus the prior quarter.
Industry-Leading Cost Metrics
Record low consolidated cash costs of negative $1.80 per pound of copper and sustaining cash costs of $0, helped by higher gold byproduct credits; Peru cash costs of $0.70/lb (Q1) and British Columbia cash costs of $2.41/lb (Q1).
Strong Free Cash Flow and Liquidity
Generated $102 million of free cash flow in Q1 after sustaining capex (TTM free cash flow $400 million); ended Q1 with over $1 billion in cash and cash equivalents and total liquidity of $1.4 billion as of March 31.
Prudent Balance Sheet Management
Net debt nearly zero and net debt-to-EBITDA at the lowest point in more than a decade; repaid 2026 senior notes on April 1 while maintaining significant liquidity.
Material Strategic Partnership Funding
Received $420 million initial cash contribution from Mitsubishi for the Copper World joint venture to fund pre-sanctioning and initial project development costs.
Reserve/Resource and Production Outlook Upgrade
Extended mine lives: Snow Lake to 2041 (+4 years), Constancia to 2040, Copper Mountain to 2045 (+2 years); consolidated copper production expected to average 147 thousand tonnes/year over next three years, a 24% increase from 2025; consolidated gold expected to average 243 thousand ounces/year.
Operational Milestones at Key Assets
Peru mill throughput achieved a new quarterly record (~90.7 ktpd) and permit approved to increase annual throughput to 31.1 million tons; Copper Mountain reached record material movement (>25 million tonnes) and second SAG mill averaged ~10 ktpd in March; Manitoba New Britannia mill gold recoveries improved to 90%.
Permitting and Project Development Progress
Received amended Mines Act and Environmental Management Act permits for New Ingerbelle (B.C.) and project added to B.C. priority resource list; Copper World DFS >85% complete (on track for mid-2026) and acquisition of Arizona Sonoran (Cactus) advancing U.S. growth pipeline.
Clear Growth Pathway
Management forecasts ~70% increase in annual copper production by decade end (~250 kt) with Copper World and a pathway to ~500 kt by mid-next decade through staged development of Copper World, Cactus and Mason.
TSE:HBM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:HBM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 01, 2026 | C$31.42 | C$31.02 | -1.27% |
Feb 20, 2026 | C$33.85 | C$34.18 | +0.97% |
Nov 12, 2025 | C$23.27 | C$23.82 | +2.36% |
Aug 13, 2025 | C$13.56 | C$15.56 | +14.81% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hudbay Minerals (TSE:HBM) report earnings?
Hudbay Minerals (TSE:HBM) is schdueled to report earning on Aug 10, 2026, After Close (Confirmed).
What is Hudbay Minerals (TSE:HBM) earnings time?
Hudbay Minerals (TSE:HBM) earnings time is at Aug 10, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:HBM EPS forecast?
TSE:HBM EPS forecast for the fiscal quarter 2026 (Q2) is 0.49.