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Hudbay Minerals Inc (HBM)
NYSE:HBM
Earnings Data
Report Date
May 20, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.41Last Year’s EPS
0.24Same Quarter Last Year
Strong Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a largely positive outlook: the company reported multiple record financials (revenue, adjusted EBITDA, free cash flow), strong balance sheet improvement and a transformative JV with Mitsubishi that de-risks Copper World and provides substantial liquidity. Operationally, the business demonstrated resilience—meeting long-term production guidance streaks, showing quarter-over-quarter recoveries (notably in Peru), advancing mills and exploration (Talbot, 1901) and initiating a dividend. The primary negatives were operational disruptions (wildfires, power outage, SAG mill damage), the depletion of the Pampacancha high-grade area causing near-term gold declines and some permitting uncertainty in Peru; these challenges appear manageable within the company’s strengthened financial and project framework.Company Guidance
Record Financial Performance (2025)
Delivered record annual revenue of >$2.0B, record adjusted EBITDA of >$1.0B and record annual free cash flow of $388M; Q4 revenue $733M and Q4 adjusted EBITDA $386M; Q4 net earnings $128M ($0.32/sh) and adjusted EPS $0.22/sh.
Strong Q4 Operating Cash Generation
Operating cash flow before change in working capital of $337M in Q4 and free cash flow of $228M in Q4, driving the annual free cash flow record and supporting deleveraging and capital allocation initiatives.
Balance Sheet Deleveraging and Liquidity Strengthening
Reduced long-term debt by $185M since end-2024 to $1.0B; repurchased $39M of unsecured notes in Q4; ended quarter with liquidity of $994M (cash $569M + $425M undrawn), net debt/EBITDA improved to 0.4x and subsequently to 0x after Copper World JV proceeds, with adjusted total liquidity >$1.4B after Mitsubishi transaction.
Strategic Mitsubishi JV for Copper World
Closed precedent-setting JV with Mitsubishi: $420M initial cash inflow (plus $180M within 18 months) for a 30% stake, materially de-risks and funds Copper World feasibility and early work, enabling expected project sanctioning in 2026 and reducing Hudbay's future equity contributions.
Operational Achievements and Production Resilience
11th consecutive year meeting consolidated copper guidance and 5th consecutive year meeting consolidated gold guidance; Q4 production included 33,000 t copper and 84,000 oz gold; Peru Q4 production: 25,000 t copper, 33,000 oz gold, with q/q increases vs Q3 of copper +38%, gold +25% and silver +27%.
Industry-Leading Cost Performance
Consolidated cash costs in Q4 were negative $0.63/lb Cu and consolidated sustaining cash cost $0.94/lb Cu (significant improvement vs Q3 driven by higher copper production and gold byproduct credits); 2026 consolidated cash cost guidance remains historically low at negative $0.30 to negative $0.10/lb.
Operational Milestones and Project Progress
New Britannia mill reached record monthly throughput; successful completion of SAG mill feed system in BC; continued advancement of pebble crushers in Peru and completion of key infrastructure at 1901 in Manitoba moving toward production in 2027; Talbot drill program doubled mineralized footprint and PFS work underway.
Capital Allocation & Shareholder Returns
Implemented enhanced capital allocation framework and initiated dividend increases: new quarterly dividend $0.01 (annual $0.04, 100% increase over prior semi-annual $0.01), while preserving capacity to fund growth (2026 sustaining capex $435M; growth capex at operations $140M; Copper World growth capex $135M).
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
HBM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 20, 2026 | $24.74 | $24.98 | +0.97% |
Nov 12, 2025 | $16.59 | $16.99 | +2.41% |
Aug 13, 2025 | $9.84 | $11.32 | +15.02% |
May 12, 2025 | $7.71 | $8.32 | +8.03% |
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 Inc (HBM) report earnings?
Hudbay Minerals Inc (HBM) is schdueled to report earning on May 20, 2026, TBA (Confirmed).
What is Hudbay Minerals Inc (HBM) earnings time?
Hudbay Minerals Inc (HBM) earnings time is at May 20, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HBM EPS forecast?
HBM EPS forecast for the fiscal quarter 2026 (Q1) is 0.41.