SCCO FY 2023 Earnings Report — Southern Copper Corporation Revenue & Financial Results | Market Cap Arena

Southern Copper CorporationSCCO

FY 2023 Earnings

Reported February 29, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$9.9B	—	$10.0B	—	-1.5%
Op. Income	$4.2B	—	$4.4B	—	-5.5%
Gross Margin	43.6%	—	45.4%	—	-1.7pp
Net Margin	24.5%	—	26.3%	—	-1.8pp
EPS (Diluted)	$3.09	—	$3.41	—	-9.4%
Free Cash Flow	$2.6B	—	$1.9B	—	38.3%

Revenue Flow

Item	Amount
REVENUE	$9.9B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$127M
Other Expenses	$0
Operating Expenses	$127M
Cost & Expenses	$5.7B
OPERATING INCOME	$4.2B
Interest Income	$87M
Interest Expense	$327M
Other Income/Expenses	-$239M
INCOME BEFORE TAX	$4.0B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$834M
EBIT	$4.3B
EBITDA	$5.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$9.9B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$127M
Other Expenses	$0
Operating Expenses	$127M
Cost & Expenses	$5.7B
OPERATING INCOME	$4.2B
Interest Income	$87M
Interest Expense	$327M
Other Income/Expenses	-$239M
INCOME BEFORE TAX	$4.0B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$834M
EBIT	$4.3B
EBITDA	$5.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.4B
Depreciation & Amortization	$834M
Stock-Based Compensation	$0
Deferred Income Tax	-$59M
Other Non-Cash Items	$63M
Change in Working Capital	$310M
OPERATING CASH FLOW	$3.6B
Capital Expenditure	-$1.0B
Acquisitions (Net)	$0
Purchases of Investments	-$809M
Sales/Maturities of Investments	$418M
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$3.1B
Other Financing Activities	-$9M
NET CASH FROM FINANCING	-$3.1B
FREE CASH FLOW	$2.6B
Net Change in Cash	-$918M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$599M
Net Receivables	$1.2B
Inventory	$1.0B
Other Current Assets	$38M
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$10.6B
Goodwill	$42M
Intangible Assets	$88M
Long-Term Investments	$108M
Tax Assets	$256M
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$12.3B
TOTAL ASSETS	$16.7B
Account Payables	$653M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$6.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$132M
Other Non-Current Liabilities	$771M
TOTAL NON-CURRENT LIABILITIES	$7.9B
TOTAL LIABILITIES	$9.2B
Common Stock	$9M
Additional Paid-In Capital	$3.5B
Retained Earnings	$7.0B
Treasury Stock	-$3.1B
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.4B
Minority Interest	$63M
TOTAL EQUITY	$7.5B
TOTAL LIABILITIES & EQUITY	$16.7B
Total Debt	$7.0B
Net Debt	$5.9B