南方铜业 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended: March31,2026 or TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 SOUTHERN COPPER CORPORATION(Exact name of registrant as specified in its charter) 13-3849074 Delaware (State or other jurisdiction of incorporation or organization) Registrant’s telephone number, including area code:(602) 264-1375 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregistered:New York Stock Exchange Lima Stock Exchange Common stock, par value $0.01 pershare Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90 days. Yes⌧No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files). Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐Emerging growthcompany☐ Accelerated filer☐Smaller reporting company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No⌧ As of April 29, 2026, there were outstanding 826,065,041 shares of Southern Copper Corporation common stock, parvalue $0.01 per share. OnApril 13, 2026, we announced the unexpected passing of our former President and CEO, OscarGonzalez Rocha. Over his distinguished 50-year career, Oscar was the cornerstone of our company'sgrowth, guiding us with his vision, leadership, and unwavering commitment. Throughout his tenure asChief Executive Officer, he established a legacy of operational excellence that was instrumental inpositioning our company as a leader both in Mexico and worldwide. We are deeply grateful for his manysignificant contributions to our company. Southern Copper Corporation (“SCC”) INDEX TO FORM 10-Q Part I. Financial Information Item 1.Condensed Consolidated Financial Statements (Unaudited)4Condensed Consolidated Statements of Earnings forthe three-month periods endedMarch 31, 2026 and 20254Condensed Consolidated Statements of Comprehensive Income for the three-month periods ended March 31, 2026 and 20255Condensed Consolidated Balance Sheets as of March 31, 2026 and December31,20256Condensed Consolidated Statements of Cash Flows forthe three-month periodsended March 31, 2026 and 20257Condensed Consolidated Statements of Changes in Equity for the three-monthperiods ended March 31, 2026 and 20258Notes to Condensed Consolidated Financial Statements9-37Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations38-55Item 3.Quantitative and Qualitative Disclosure about Market Risk56-57Item 4.Controls and procedures58Report of Independent Registered Public Accounting Firm59Part II. Other InformationItem 1.Legal Proceedings60Item 1A.Risk Factors60Item 2.Unregistered Sale of Equity Securities and Use of Proceeds60Item 4.Mine Safety Disclosures60Item 5.Other Information60Item 6.List of Exhibits61-64Signatures65 PARTI — FINANCIAL INFORMATION Southern Copper Corporation Southern Copper Corporation CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited) The accompanying notes are an integral part of these condensed consolidated financial statements. Southern Copper Corporation CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) Southern Copper Corporation CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Three Months EndedMarch31,20262025OPERATING ACTIVITIESNet income$1,581.9$949.1Adjustments to reconcile net earnings to net cash provided from operatingactivities:Depreciation, amortization and depletion225.7223.8Equity earnings of affiliate, net of dividends received(16.2)(3.1)(Gain) loss on foreign currency transaction effect(17.6)14.0(Benefit) provision for deferred income taxes(34.8)28.2Other, net11.714.3Change in operating assets and liabilities:Increase in accounts receivable(65.1)(358.6)Decrease in inventories97.485.3Decrease in accounts