Filing Flows › Southern Copper (SCCO) › Q2 2026 › vs Q1 2026
Southern Copper (SCCO) Q2 2026 vs Q1 2026 (quarter over quarter)
Southern Copper's revenue rose $37.6M (+0.9%) from $4.3B in Q1 2026 to $4.3B in Q2 2026. The biggest changes: Silver −$156M (-29%); Copper +$134M (+4%); Molybdenum +$30.3M (+7%). Operating margin 61.2% against 58.3% (+2.8 pts).
Southern Copper, Q2 2026: revenue $4.3B (+41% year over year), operating margin 61.2%, net earnings $1.7B, operating cash flow $2.0B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 61.2% | 58.3% | +2.8 pts |
| Net margin | 38.9% | 37.1% | +1.8 pts |
| Free cash flow margin | 36.5% | 29.5% | +7.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Copper | $3.1B | $3.0B | $134M | +4% |
| Molybdenum | $476M | $446M | $30.3M | +7% |
| Silver | $376M | $532M | −$156M | -29% |
| Other | $168M | $147M | $21.5M | +15% |
| Zinc | $152M | $145M | $7.2M | +5% |
| Revenue | $4.3B | $4.3B | $37.6M | +0.9% |
| Operating profit | $2.6B | $2.5B | $143M | +6% |
| Costs & expenses | $1.7B | $1.8B | −$105M | -6% |
| Pre-tax earnings | $2.6B | $2.5B | $147M | +6% |
| Cost of revenue | $1.4B | $1.5B | −$109M | -7% |
| SG&A | $35.3M | $35.8M | −$500K | -1% |
| Other operating costs | $241M | $236M | $4.6M | +2% |
| Net earnings | $1.7B | $1.6B | $93.1M | +6% |
| Minority interests | $4.6M | $5.0M | −$400K | -8% |
| Income tax | $945M | $891M | $54.3M | +6% |
| Depreciation & amortization | $226M | $226M | $300K | +0.1% |
| Working capital & other | $92.5M | −$108M | $201M | — |
| Operating cash flow | $2.0B | $1.7B | $294M | +17% |
| Free cash flow (OCF − capex) | $1.6B | $1.3B | $313M | +25% |
| Capital expenditures | $423M | $442M | −$19.1M | -4% |
Questions
How much did Southern Copper's revenue grow quarter over quarter in Q2 2026?
Southern Copper's revenue rose $37.6M (+0.9%) from $4.3B in Q1 2026 to $4.3B in Q2 2026.
What drove Southern Copper's revenue change in Q2 2026?
Silver −$156M (-29%); Copper +$134M (+4%); Molybdenum +$30.3M (+7%).