Southern Copper Corporation reported a robust QQ3 2025, delivering solid top-line growth, strong margins, and meaningful cash flow generation. Revenue for the quarter reached $3.378 billion, up 15.2% year over year and 10.7% quarter over quarter, supported by favorable copper realizations and a productive mix. Gross profit rose to $2.021 billion, resulting in a gross margin of 59.8%, with EBITDA of $2.023 billion and operating income of $1.769 billion (operating margin ≈ 52.4%). Net income was $1.108 billion, yielding a net margin of about 32.8% and an EPS of $1.35, up 17.4% YoY and 13.5% QoQ.
The company also demonstrated durable balance sheet strength and cash generation. Liquidity metrics remained generous (current ratio 4.52, quick ratio 3.91, cash ratio 2.33), and per-share cash flow metrics were compelling (operating cash flow per share and free cash flow per share at $1.896; cash per share of $5.50). The payout policy remains supportive, with a dividend payout ratio of 58.1% and a dividend yield of approximately 0.64%. Leverage metrics indicate prudent balance sheet management (debt ratio 0.361; debt capitalization 0.413; interest coverage ~19.4x).
Management commentary is not embedded in the provided transcript data; as such, the analysis relies on disclosed financials and quarterly trend signals. Nonetheless, the QQ3 2025 results reinforce Southern Copper’s position as a low-to-mid leverage, high-margin copper producer with strong operating leverage and robust cash generation that supports returns to shareholders while funding ongoing capital needs.