Quarterly ResultJul 29, 2026, 05:01 PM
Hudbay Q2 Net Earnings $137.4M; Improves Cash Cost Guidance
AI Summary
Hudbay Minerals reported strong Q2 2026 results with net earnings attributable to owners of $137.4 million and revenue of $631.3 million, alongside improved full-year cash cost guidance. The company completed the acquisition of Arizona Sonoran Copper Company Inc. (ASCU) on June 24, 2026, making it a wholly owned subsidiary and adding the Cactus project. Additionally, Hudbay closed its Copper World joint venture with Mitsubishi in January 2026, selling a 30% minority interest for $420 million cash upfront and $180 million deferred.
Key Highlights
- Q2 2026 net earnings attributable to owners rose to $137.4M from $117.7M YoY.
- Q2 2026 revenue increased to $631.3M from $536.4M YoY.
- Q2 2026 basic and diluted EPS was $0.34, up from $0.30 YoY.
- Improved full-year 2026 consolidated cash cost guidance to $(0.45) to $(0.25) per lb.
- Acquired Arizona Sonoran Copper Company Inc. (ASCU) on June 24, 2026.
- Closed Copper World JV with Mitsubishi, receiving $420M cash upfront.
- Generated over $100M in free cash flow in Q2 2026.
- Q2 2026 consolidated copper production was 28,267 tonnes.
Price Impact
More from HBM