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Southern Copper Corp [SCCO] reports quarterly net loss of $738.8 million
![Southern Copper Corp [SCCO] reports quarterly net loss of $738.8 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FSCCO.png&w=3840&q=75)
Company Reports Revenue of $0
SOUTHERN COPPER CORP/ [SCCO] has reported a net loss Net income of $738.8 million for quarter ended Dec 31, 2022.
The Company said in a filing before the Securities and Exchange Commission that its total revenue Net sales (including sales to related parties, see note 5) for the quarter was $0
Based in PHOENIX, Arizona, SOUTHERN COPPER CORP/ operates in the MINING sector.
In the financial report for the quarter ended March 31, 2024, compared to the same period in 2023, the following key figures have been presented:
- Net sales for the current quarter amounted to $2.599 Billion, showing a decrease from $2.794 Billion in the previous year's quarter.
- The cost of sales stood at $1.158 Billion in the current quarter, slightly lower than the $1.194 Billion reported in the same period last year.
- Operating income for the quarter was $1.190 Billion, down from $1.354 Billion in the prior year's quarter.
- Net income for the quarter was $739 Million, a decrease from $816 Million reported in the corresponding period last year.
- Earnings per share for basic and diluted amounts were reported at $0.95 for both in the current quarter, compared to $1.05 reported in the previous year's quarter.
It's evident from the data that the company experienced a decline in net sales, operating income, net income, and earnings per share for the quarter ended March 31, 2024, compared to the same period in 2023.
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