EL7.AI
StocksMedium•22 October 2026•
3 min read

Grupo Mexico quarterly profit reaches $2,003.94 million, beating analyst forecasts

Key Facts

1Nine-month net profit reached $5,920.69 million, compared with $3,608.6 million in the corresponding period.
2Quarterly net profit reached $2,003.94 million, compared with $1,285.49 million in the corresponding quarter.
3Quarterly revenue rose 38% to $6.33 billion.
4Quarterly earnings before interest, taxes, depreciation and amortisation rose 50.5% to $3.77 billion.
5The company expects commercial operations at the Tia Maria project to begin in the first half of 2028.

Grupo Mexico's net profit rose to $2,003.94 million in the third quarter of 2026, beating analyst forecasts, in results whose disclosure was listed by the Mexican stock exchange on October 20, 2026. Net profit in the corresponding quarter of 2025 was about $1,285.49 million, according to S&P Capital IQ data published on MarketScreener. Earnings exceeded the $1.78 billion forecast by analysts polled by LSEG, according to a Reuters report published by Mining Weekly. Year-on-year growth extended to quarterly revenue, which rose 38% to $6.33 billion in the period ended September. Earnings before interest, taxes, depreciation and amortisation reached $3.77 billion, up 50.5% year on year, according to Reuters. Growth in this earnings measure thus outpaced the increase in revenue in the same quarter, while net profit exceeded analyst estimates.

For the nine months ended September, Grupo Mexico's sales totalled $17,615.87 million, according to S&P Capital IQ data published on MarketScreener. Sales stood at $13,024.18 million in the corresponding period of 2025, placing the company's third-quarter business growth within a broader increase in its January-to-September results. Consolidated net profit for the nine months reached $5,920.69 million, compared with $3,608.6 million in the same period a year earlier. These results cover the period from the start of the year through the end of September, while the quarterly earnings and revenue figures cover the final quarter of that period. A comparison with the preceding quarter, however, shows that quarterly net profit declined, as the company earned $2.20 billion in the second quarter of 2026, according to a Reuters report published in July on Investing.com. Third-quarter profit thus rose year on year and exceeded analyst forecasts while falling from its second-quarter level in the same year.

On the operational front, quarterly copper production declined, with Grupo Mexico attributing the drop to lower ore grades in Peru and at Asarco, according to Reuters' report on the September results. The company cited "lower ore grades" in explaining production performance at those operations. Production in Mexico, meanwhile, increased, partly offsetting the decline in Peru and at Asarco. This followed a second quarter in which the company produced 257,537 metric tons of copper, down 3.7% year on year, according to Reuters' report on that quarter's results. Both the second and third quarters thus saw year-on-year declines in copper production, despite higher third-quarter net profit and revenue compared with the corresponding period a year earlier.

On projects, the Tia Maria copper project was 49.6% complete at the end of September 2026, according to Reuters, citing the company. That compares with 42% completion at the end of the second quarter of the same year, according to the report on that quarter's results published in July. The completion level announced in the September results represents progress in construction between the two quarterly disclosures. The copper project is valued at $1.1 billion, according to Reuters' report on the results, as the company continues its development towards commercial operations. Grupo Mexico expects commercial operations at the project to begin in the first half of 2028.