Quarterly ResultMay 1, 2026, 04:34 PM
Hudbay Q1 Revenue $757.3M, EPS $0.48; Record EBITDA; Guidance Reaffirmed
AI Summary
Hudbay Minerals Inc. reported record first-quarter 2026 financial results, with revenue increasing 27.3% to $757.3 million and net income attributable to owners rising 89.6% to $190.4 million, or $0.48 per share. The company achieved record adjusted EBITDA of $421.9 million and record low consolidated cash costs of $(1.80) per pound of copper. Hudbay also reaffirmed its full-year 2026 production and cost guidance and highlighted the strategic investment by Mitsubishi for a 30% minority interest in the Copper World project, which closed in January 2026.
Key Highlights
- Q1 2026 revenue increased 27.3% to $757.3 million from $594.9 million in Q1 2025.
- Net income attributable to owners rose 89.6% to $190.4 million, or $0.48 per share.
- Achieved record adjusted EBITDA of $421.9 million and adjusted net earnings of $159.1 million.
- Consolidated copper production was 27,929 tonnes; gold production was 61,700 ounces.
- Consolidated cash cost was $(1.80)/lb copper; sustaining cash cost was $0.00/lb copper.
- Cash and cash equivalents reached $1,003.8 million, with total liquidity of $1,429 million.
- Reaffirmed 2026 guidance: copper 110,000-138,000 tonnes, gold 217,000-272,000 ounces.
- Closed sale of 30% Copper World interest to Mitsubishi for $420M cash, $180M deferred.
Price Impact
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