SCCO Q2 2024 Earnings Report — Southern Copper Corporation Revenue & Financial Results | Market Cap Arena

Southern Copper CorporationSCCO

Q2 2024 Earnings

Reported August 2, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2024	Q1 2024	Q2 2023	QoQ Change	YoY Change
Revenue	$3.1B	$2.6B	$2.3B	19.9%	35.5%
Op. Income	$1.6B	$1.2B	$901M	35.1%	78.5%
Gross Margin	52.6%	46.9%	40.5%	5.7pp	12.1pp
Net Margin	30.5%	28.3%	23.8%	2.2pp	6.7pp
EPS (Diluted)	$1.21	$0.95	$0.71	27.4%	70.4%
Free Cash Flow	$630M	$446M	$545M	41.4%	15.7%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$34M
Other Expenses	$0
Operating Expenses	$34M
Cost & Expenses	$1.5B
OPERATING INCOME	$1.6B
Interest Income	$27M
Interest Expense	$83M
Other Income/Expenses	-$75M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$579M
Net Income from Continuing Ops	$954M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$950M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$950M
D&A	$210M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$34M
Other Expenses	$0
Operating Expenses	$34M
Cost & Expenses	$1.5B
OPERATING INCOME	$1.6B
Interest Income	$27M
Interest Expense	$83M
Other Income/Expenses	-$75M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$579M
Net Income from Continuing Ops	$954M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$950M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$950M
D&A	$210M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$950M
Depreciation & Amortization	$210M
Stock-Based Compensation	$100.0K
Deferred Income Tax	$4M
Other Non-Cash Items	$300.0K
Change in Working Capital	-$202M
OPERATING CASH FLOW	$962M
Capital Expenditure	-$332M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$100.0K
Other Investing Activities	$100.0K
NET CASH FROM INVESTING	-$332M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$0
FREE CASH FLOW	$630M
Net Change in Cash	$623M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.9B
Short-Term Investments	$329M
Net Receivables	$1.7B
Inventory	$1.0B
Other Current Assets	$27M
TOTAL CURRENT ASSETS	$5.3B
PP&E (Net)	$10.6B
Goodwill	$0
Intangible Assets	$127M
Long-Term Investments	$115M
Tax Assets	$269M
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$12.4B
TOTAL ASSETS	$17.8B
Account Payables	$647M
Short-Term Debt	$500M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$5.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$159M
Other Non-Current Liabilities	$735M
TOTAL NON-CURRENT LIABILITIES	$7.3B
TOTAL LIABILITIES	$9.2B
Common Stock	$9M
Additional Paid-In Capital	$4.3B
Retained Earnings	$7.2B
Treasury Stock	-$2.9B
Accum. Other Comp. Income	-$8M
Other Equity	$100.0K
TOTAL STOCKHOLDERS' EQUITY	$8.5B
Minority Interest	$68M
TOTAL EQUITY	$8.6B
TOTAL LIABILITIES & EQUITY	$17.8B
Total Debt	$7.0B
Net Debt	$5.1B