SOUTHERN COPPER CORP/ Earnings Per Share Disclosure
NOTE 19 – EARNINGS PER SHARE:
The following table sets forth the computation of basic and diluted earnings per share (dollars and shares in millions except per share data):
2025 | | 2024 | | 2023 | |||||
(in millions, except for per share amounts) | |||||||||
Net income |
| 4,348.2 |
| 3,388.6 |
| 2,434.7 | |||
Less: Net income attributable to the non-controlling interest |
| 13.3 |
| 11.8 |
| 9.5 | |||
Net income attributable to SCC | $ | 4,334.9 | $ | 3,376.8 | $ | 2,425.2 | |||
Weighted average common shares outstanding-basic and diluted | 826.6 | 802.9 | 795.3 | ||||||
Basic and diluted net income per share: | |||||||||
Common shares-basic and diluted | $ | 5.24 | $ | 4.21 | $ | 3.05 | |||
On May 19, 2025, the Company paid a stock dividend of 0.0099 shares per common share. Additionally, on September 4, 2025, and November 28, 2025, the Company paid stock dividends of 0.0101 shares and 0.0085 shares per common share, respectively. Earnings per share have been adjusted retroactively to reflect these changes in capital structure, in accordance with GAAP.
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.