Quarterly ResultMay 1, 2026, 06:02 AM
HBM Q1 Revenue $757.3M, Adj. EBITDA $421.9M; Reaffirms 2026 Guidance
AI Summary
Hudbay Minerals Inc. reported record first-quarter 2026 financial results, with revenue of $757.3 million, adjusted EBITDA of $421.9 million, and adjusted net earnings of $159.1 million. The company reaffirmed its full-year 2026 production and cost guidance, driven by steady operating performance and strong copper and gold exposure. Hudbay also strengthened its balance sheet by repaying $472.5 million in senior unsecured notes and closed the Copper World joint venture, while advancing the acquisition of Arizona Sonoran Copper Company Inc. to enhance its copper growth pipeline.
Key Highlights
- Record Q1 2026 revenue of $757.3 million.
- Record Q1 2026 adjusted EBITDA of $421.9 million.
- Record Q1 2026 adjusted net earnings attributable to owners of $159.1 million ($0.40 EPS).
- Reaffirmed 2026 production guidance: 110,000-138,000 tonnes copper, 217,000-272,000 ounces gold.
- Net debt decreased by $434.1 million to $5.6 million; net debt to adjusted EBITDA ratio 0.0x.
- Repaid $472.5 million 2026 senior unsecured notes on April 1, 2026.
- Closed Copper World joint venture with Mitsubishi, receiving $420 million initial cash.
- Announced acquisition of Arizona Sonoran Copper Company Inc. to expand US growth pipeline.