{
  "id": 15951176,
  "title": "Grupo México Profit Jumps 63% to US$1.97B",
  "url": "https://urgent.news/2026/10/21/grupo-mexico-profit-jumps-63-to-us-1-97b",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T20:17:02.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/grupo-mexico-profit-third-quarter-copper-2026/"
  },
  "original_language": "en",
  "account": "Grupo México reported a significant surge in profit, jumping 63% to US$1.97 billion in the third quarter of 2026. The Mexican mining and railway conglomerate surpassed market expectations, with earnings per share reaching about 26 US cents, exceeding the analyst consensus of 22 cents. Notably, Grupo México owns Southern Copper, a New York-listed miner, and Asarco, a copper producer with US operations, reinforcing the importance of the results for US investors. The company's total sales increased by 37.9% to US$6.33 billion, while operating profit rose by 60.4% to US$3.33 billion. EBITDA, a measure of operating earnings before depreciation and amortization, expanded by 50.5% to US$3.77 billion, with a margin expanding to 59.5% of sales from 54.6% a year earlier. Key commodities driving the profit were copper, silver, and molybdenum, which increased in price by 34.2%, 58.7%, and 35.3%, respectively, lifting Grupo México's earnings. Copper production declined slightly by 1.9% to 260,322 tonnes, but the cost of production per pound decreased by 36.1% to US$0.50, contributing to improved margins. The railway division, Ferromex, reported a 5% increase in freight car haulage and a 12.3% rise in sales to US$978 million. The infrastructure division's sales more than doubled to US$341 million, driven by the acquisition of Saavi Energía. Grupo México's cash reserves stood at US$13.79 billion, with debt at US$13.15 billion, resulting in a net cash position of about US$638 million. The company announced a share dividend of one new share for every 194 held, payable on 23 November 2026, at a yield of about 2.1%. The Tía María copper project in southern Peru, which is 49.6% complete, is expected to start production in the first half of 2028, with an investment of US$1.10 billion and an annual output of 120,000 tonnes of copper cathode. Grupo México is exploring potential expansions in the United States, such as the Ray mine and the reopening of the Hayden smelter in Arizona and the Amarillo refinery in Texas. The company's strategic decisions regarding its Peruvian operations and US projects remain uncertain, and the impact of these decisions on future profits remains to be seen.",
  "summary": "Grupo México profit rose 63% to US$1.97 billion in the third quarter, beating analyst forecasts, while the miner's copper output slipped 1.9%. The post Grupo México Profit Jumps 63% to US$1.97B appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}