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Mining and transportation conglomerate Grupo Mexico reported a 56% profit bump in the third quarter compared to the same period a year earlier, helped mainly by higher metal prices, even as it noted a drop in copper production.
The group, a leading global copper producer, lowered its 2026 copper production guidance to 1.026 million metric tons from a previous forecast of 1.034 million tons.
Net profit came in at $2 billion from revenue that climbed 38% to $6.33 billion, according to a Tuesday filing.
Net profit landed above the $1.78 billion estimate of analysts polled by LSEG, while revenue also surpassed a $5.81 billion estimate.
Earnings before interest, taxes, depreciation and amortization for the three months through September rose 50.5% to $3.77 billion.
Meanwhile, the firm produced 260,322 tons of copper in the third quarter, down 1.9% from the same period in 2025, due to decreases in Peru and at Asarco. The lower figures were partially offset by an increase in operations in Mexico.
Grupo Mexico, controlled by billionaire German Larrea, is one of the world’s largest copper producers through its mining division and also operates rail and infrastructure businesses across Mexico and other Latin American countries.
(Reporting by Natalia Siniawski; Editing by Daina Beth Solomon)
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