Business
Hudbay Minerals Announces First Quarter 2026 Results and Delivers Record Quarterly Revenue and Adjusted EBITDA
TORONTO, May 01, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) released its first quarter 2026 financial results to
About this update from Hudbay Minerals Inc
[{"type":"text","content":" TORONTO, May 01, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) released its first quarter 2026 financial results today. All amounts are in U.S. dollars, unless otherwise noted. “Hudbay delivered another quarter of record revenue, record adjusted EBITDA and record adjusted earnings, driven by steady operating performance, expanded margins from strong copper and gold exposure and a focus on cost control across the business,” said Peter Kukielski, President and Chief Executive Officer. “Our leading operating cost performance resulted in record low consolidated cash costs and contributed to continued strong free cash flow generation in the quarter. All our operations are on track to achieve 2026 production and cost guidance. Building on our commitment to prudent balance sheet management, we ended the quarter with over $1 billion in cash and cash equivalents. Our enhanced financial flexibility positions us well to advance the development of Copper World, invest in high-return opportunities at our operations and de-risk the Cactus project upon completion of the acquisition of Arizona Sonoran to deliver attractive growth and maximize long-term risk-adjusted returns for stakeholders.” Achieved Record Adjusted EBITDA Driven by Stable Copper and Gold Production and Industry-Leading Margins; 2026 Production and Cost Guidance Reaffirmed Achieved record quarterly revenue of $757.3 million, record quarterly adjusted EBITDAi of $421.9 million and record adjusted net earnings attributable to owners of $159.1 million in the first quarter, driven by steady operating performance, expanding margins from strong copper and gold exposure and a focus on cost control across the business. Consolidated copper and gold production of 27,929 tonnes and 61,700 ounces, respectively, in the first quarter was in line with quarterly cadence expectations. Industry-leading cost performance continues with record low consolidated cash costi and sustaining cash costi, net of by-product credits, of $(1.80) and $0.00, respectively, in the first quarter. Reaffirmed full year 2026 consolidated production guidance including 110,000 to 138,000 tonnes of copper and 217,000 to 272,000 ounces of gold. Reaffirmed 2026 cost guidance, including consolidated cash costi guidance of $(0.30) to $(0.10) per pound of copper and sustain...