Southern Copper (SCCO) Q2 Earnings Beat on High Prices & Volumes
SCCOSCC(SCCO) ZACKS·2024-07-31 01:57

Southern Copper Corporation (SCCO) reported second-quarter 2024 earnings of $1.22 per share, which beat the Zacks Consensus Estimate of $1.13. The bottom line marked a 73% improvement from the -year-ago quarter, mainly driven by higher sales volumes and prices of copper, molybdenum, silver and zinc. This was somewhat offset by elevated operating costs related to sales volumes, G&A and exploration expenses. Net sales were $3.12 billion, up 35.5% from the year-ago quarter. The figure also surpassed the consen ...