Southern Copper Beats on Both Top and Bottom Lines
Southern Copper (NYS: SCCO) reported earnings on May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Southern Copper beat expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share grew significantly.
Margins improved across the board.
Southern Copper reported revenue of $1.81 billion. The three analysts polled by S&P Capital IQ predicted sales of $1.61 billion on the same basis. GAAP reported sales were 13% higher than the prior-year quarter's $1.60 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.73. The five earnings estimates compiled by S&P Capital IQ anticipated $0.61 per share. GAAP EPS of $0.73 for Q1 were 30% higher than the prior-year quarter's $0.56 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 60.0%, 600 basis points better than the prior-year quarter. Operating margin was 54.0%, 640 basis points better than the prior-year quarter. Net margin was 34.4%, 450 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.66 billion. On the bottom line, the average EPS estimate is $0.63.
Next year's average estimate for revenue is $6.80 billion. The average EPS estimate is $2.61.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,201 members out of 4,358 rating the stock outperform, and 157 members rating it underperform. Among 1,001 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 973 give Southern Copper a green thumbs-up, and 28 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Southern Copper is hold, with an average price target of $36.37.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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