Southern Copper Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
October 24, 2018 at 02:37 pm
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Southern Copper Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net sales of $1,723.7 million against $1,676.5 million a year ago. Operating income was $696.7 million against $692.6 million a year ago. Interest income was $4.4 million against $1.8 million a year ago. Net income was $370.7 million or $0.48 per share basic and diluted against $402.8 million or $0.52 per share basic and diluted a year ago.
For the nine months, the company reported net sales of $5,402.1 million against $4,790.2 million a year ago. Operating income was $2,257.7 million against $1,788.9 million a year ago. Interest income was $9.8 million against $4.0 million a year ago. Net income was $1,253.7 million or $1.62 per share basic and diluted against $1,018.6 million or $1.31 per share basic and diluted a year ago.
Southern Copper Corporation is an integrated copper producer. The Company is engaged in the production of copper, molybdenum, silver, and zinc. The Companyâs mining, smelting and refining facilities are located in Peru and Mexico and conducts exploration activities in those countries and in Argentina, Chile and Ecuador. Its segments include the Peruvian operations, Mexican open-pit operations and Mexican underground mining operations. Its Peruvian operations include the Toquepala and Cuajone mine complexes and smelting and refining plants, including a precious metals plant, industrial railroad and port facilities. Its Mexican open-pit operations include the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a precious metals plant and a copper rod plant and support facilities that service both mines. Its Mexican underground mining operations include five underground mines that produce zinc, copper, lead, silver and gold, and a zinc refinery.