Hudbay Minerals cites higher copper prices, sales volumes driving Q3 2026 adjusted EBITDA growth
HBM•Hudbay Minerals reported Q3 2026 adjusted EBITDA rose 190% year over year to $413.4 million, while net earnings fell to $149.5 million from $222.4 million. The company reaffirmed full-year production guidance and lowered consolidated cash cost guidance to negative $0.55 to negative $0.35 per pound.
1. Earnings and revenue
Hudbay Minerals' third-quarter 2026 net earnings attributable to owners fell to $149.5 million from $222.4 million. Management attributed the decline primarily to a $322.3 million Copper World impairment reversal in the prior-year period. Revenue reached $765.9 million, driven by stronger metal prices, higher sales volumes and lower treatment and refining charges.
2. EBITDA and guidance
Adjusted EBITDA rose 190% year over year to $413.4 million, reflecting higher realized metal prices and increased sales volumes. Management reaffirmed full-year production guidance and lowered consolidated cash cost guidance to negative $0.55 to negative $0.35 per pound on strong by-product credits.
