Filing Flows › Southern Copper (SCCO) › Q3 2026 › vs Q2 2026
Southern Copper (SCCO) Q3 2026 vs Q2 2026 (quarter over quarter)
Southern Copper's revenue rose $408M (+10%) from $4.3B in Q2 2026 to $4.7B in Q3 2026. The biggest changes: Copper +$342M (+11%); Molybdenum +$94.6M (+20%); Silver −$34.9M (-9%). Operating margin 59.9% against 61.2% (-1.2 pts).
Southern Copper, Q3 2026: revenue $4.7B (+39% year over year), operating margin 59.9%, net earnings $1.8B, operating cash flow $2.2B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 59.9% | 61.2% | -1.2 pts |
| Net margin | 38.4% | 38.9% | -0.6 pts |
| Free cash flow margin | 36.4% | 36.5% | -0.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Copper | $3.5B | $3.1B | $342M | +11% |
| Molybdenum | $570M | $476M | $94.6M | +20% |
| Silver | $341M | $376M | −$34.9M | -9% |
| Zinc | $170M | $152M | $18.0M | +12% |
| Other | $157M | $168M | −$11.6M | -7% |
| Revenue | $4.7B | $4.3B | $408M | +10% |
| Operating profit | $2.8B | $2.6B | $192M | +7% |
| Costs & expenses | $1.9B | $1.7B | $216M | +13% |
| Pre-tax earnings | $2.8B | $2.6B | $178M | +7% |
| Other expense, net | $17.2M | $3.3M | $13.9M | +421% |
| Cost of revenue | $1.6B | $1.4B | $210M | +15% |
| SG&A | $36.4M | $35.3M | $1.1M | +3% |
| Other operating costs | $246M | $241M | $5.0M | +2% |
| Net earnings | $1.8B | $1.7B | $132M | +8% |
| Minority interests | $5.2M | $4.6M | $600K | +13% |
| Income tax | $991M | $945M | $45.6M | +5% |
| Depreciation & amortization | $230M | $226M | $4.4M | +2% |
| Working capital & other | $192M | $92.5M | $99.6M | +108% |
| Operating cash flow | $2.2B | $2.0B | $236M | +12% |
| Free cash flow (OCF − capex) | $1.7B | $1.6B | $143M | +9% |
| Capital expenditures | $516M | $423M | $93.0M | +22% |
Questions
How much did Southern Copper's revenue grow quarter over quarter in Q3 2026?
Southern Copper's revenue rose $408M (+10%) from $4.3B in Q2 2026 to $4.7B in Q3 2026.
What drove Southern Copper's revenue change in Q3 2026?
Copper +$342M (+11%); Molybdenum +$94.6M (+20%); Silver −$34.9M (-9%).