Southern Copper
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Southern Copper (SCCO) investor relations material

Southern Copper Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary28 Jan, 2026

Executive summary

  • Achieved record net sales of $13.4 billion in 2025, up 17.4% year-over-year, with net income reaching $4.33 billion (+28.4%) and Adjusted EBITDA at $7.82 billion (+22.1%), driven by higher production volumes, improved metal prices, and by-product output.

  • 4Q25 net sales rose 39% year-over-year to $3.87 billion, with net income up 65% to $1.31 billion and EBITDA up 53%, reflecting strong operational performance and margin expansion.

  • Operating cash cost per pound of copper, net of by-product credits, dropped to $0.58 for 2025, a 33.7% reduction from 2024, supporting margin expansion.

Financial highlights

  • 2025 net sales were $13.4 billion (+17% YoY), Adjusted EBITDA $7.8 billion (+22%), and net income $4.3 billion (+28%).

  • 4Q25 net sales: $3.87 billion (+39% YoY), EBITDA: $2.31 billion (+53% YoY), net income: $1.31 billion (+65% YoY).

  • Cash flow from operations in 2025 was $4.75 billion, up 7.5% year-over-year.

  • Capital investments in 2025 totaled $1.33 billion, a 29% increase from 2024.

  • Dividends paid in 2025 were $3.50 per share, up 66.7% year-over-year, with annual dividend yield rising to 6.5%.

Outlook and guidance

  • 2026 copper production expected at 911,400 tons, a 4.7% decrease from 2025 due to lower ore grades; silver and molybdenum production also forecasted to decline.

  • Long-term copper production expected to recover post-2027 with Tía María ramp-up, targeting 1.6 million tons by 2033.

  • Copper market expected to face a deficit in 2026, with inventories covering only 14 days of consumption; demand driven by decarbonization, AI, and electric vehicles, but Chinese real estate remains weak.

Los Chancas: Strategy for illegal miners?
By-product credit impact on cash cost sustainability?
Beyond Tia Maria, next key project milestones?
What initiatives offset 2026 copper cost increase?
What is the strategy for Los Chancas project advancement?
What copper price shift would alter Buenavista zinc focus?
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Frequently asked questions

Southern Copper Corporation is a mining company engaged in the exploration, extraction, and processing of copper and other minerals. The company operates mining, smelting, and refining facilities in Mexico and Peru, producing copper, molybdenum, zinc, and silver. It serves industrial customers worldwide. Southern Copper Corporation is headquartered in Phoenix, Arizona, and its shares are listed on the NYSE.

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