SOUTHERN COPPER Reports USD 2300.7 Million in Revenue for Q2 FY 2023, Down 0.3% Year-over-Year
July 30, 2023
🌥️Earnings Overview
On July 28 2023, SOUTHERN COPPER ($NYSE:SCCO)’s total revenue for the second quarter of Fiscal Year 2023 was USD 2300.7 million, a 0.3% decrease from the same quarterly period in the previous year. Net income for the quarter ending June 30 2023 showed an increase of 26.6%, amounting to USD 547.5 million.
Analysis
Analyzing the fundamentals of SOUTHERN COPPER, GoodWhale has concluded that it is classified as a ‘rhino’, a type of company with moderate revenue or earnings growth. This company is strong in dividend and profitability while being medium in asset and growth. SOUTHERN COPPER also has a high health score of 10/10 indicating its capability to safely ride out any crisis without the risk of bankruptcy. Consequently, this makes it an attractive target for investors looking for a safe and secure investment. Investors who are interested in SOUTHERN COPPER should be aware of the moderate revenue and earnings growth. They should also consider the company’s high dividend and profitability, along with its medium asset and growth. SOUTHERN COPPER may not be the most explosive investment option out there, but it provides a safe and secure option for investors who are looking for steady returns. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Southern Copper. More…
| Total Revenues | Net Income | Net Margin |
| 10.07k | 2.78k | 27.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Southern Copper. More…
| Operations | Investing | Financing |
| 3.65k | -763.8 | -2.82k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Southern Copper. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.94k | 8.98k | 10.22 |
Key Ratios Snapshot
Some of the financial key ratios for Southern Copper are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.7% | 21.6% | 45.7% |
| FCF Margin | ROE | ROA |
| 26.3% | 35.9% | 17.0% |
Peers
The global copper industry is highly competitive, with a large number of companies vying for market share. Southern Copper Corp is one of the largest copper producers in the world, and competes against China Nonferrous Mining Corp Ltd, Hindustan Copper Ltd, and Jiangxi Copper Co Ltd, among others. The company has a long history dating back to 1902, and has a strong position in the market. Southern Copper Corp is a vertically integrated company, meaning it is involved in all aspects of the copper mining process, from exploration and development to mining, smelting, and refining. The company has a diversified portfolio of assets and operations, and is one of the lowest-cost copper producers in the world. Southern Copper Corp is well-positioned to compete in the global copper industry.
– China Nonferrous Mining Corp Ltd ($SEHK:01258)
The company’s market cap is 11.67B as of 2022, a Return on Equity of 29.54%. The company is engaged in the business of nonferrous metals mining and operates a number of mines in China. It is also engaged in the smelting and refining of nonferrous metals. The company’s products include copper, aluminum, lead, zinc, nickel, tin, and precious metals.
– Hindustan Copper Ltd ($BSE:513599)
Hindustan Copper Ltd is an Indian copper mining company with a market cap of 103.42B as of 2022. The company has a Return on Equity of 13.71%. Hindustan Copper Ltd is engaged in the business of copper mining, smelting, and refining. The company has mines in Jharkhand and Rajasthan, and a plant in Gujarat. The company produces copper cathodes, copper rods, and copper wire. Hindustan Copper Ltd also produces gold and silver.
– Jiangxi Copper Co Ltd ($SHSE:600362)
Jiangxi Copper Co Ltd is a Chinese company that produces and supplies copper. The company has a market cap of 44.09B as of 2022. The company’s Return on Equity is 8.5%. Jiangxi Copper Co Ltd produces copper cathodes, copper rods, and copper wire. The company also produces gold, silver, and other metals. Jiangxi Copper Co Ltd is headquartered in Jiangxi Province, China.
Summary
Southern Copper‘s second quarter of Fiscal Year 2023 saw total revenue of USD 2300.7 million, a decrease of 0.3% from the same period in the prior year. Net income, however, grew 26.6% year-on-year, standing at USD 547.5 million as of June 30 2023. Investors in Southern Copper may find these results encouraging, as they demonstrate that the company is able to sustain profitability despite a decline in revenue, indicating strong efficiency and cost control measures. Southern Copper may be a good investment opportunity for investors looking for a company with strong fundamentals.
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