Southern Copper Posts $2.15 3Q EPS as Record Profit Streak Extends
SCCO sits 75% above its 52-week low of $115.686.
Summary
Southern Copper reported third-quarter EPS of $2.15, the per-share line on the record quarter disclosed in this morning's 8-K. That filing showed net income of $1.80 billion, up 62.7%, on record sales of $4.70 billion, extending the surge from Q2's $1.67 billion profit and $0.05 per pound cash costs. Third-quarter adjusted EBITDA came in at $3.04 billion. The EPS figure is what the sell-side models against, so it anchors the beat/miss read for the quarter. At a $170 billion market cap, this is a large-cap copper producer whose earnings swing with metal prices, and the record results confirm the price tailwind is still flowing through. A 1.0106-for-1 split takes effect November 3; current prices and share counts are pre-split.
At the time of this announcement, SCCO was trading at $202.34 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $170.8B. The 52-week trading range was $115.69 to $220.78. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.