Hudbay Minerals Inc. (HBM) Income Statement
HBM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHBM revenue and net income
Where HBM's revenue goes
2025Each bar shows an amount and its share of revenue. HBM kept 25.7% of revenue as net income.
HBM profit margins
HBM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.4% | +14.8% | +15.1% | +9.6% |
| Gross profit | +34.2% | +39.0% | +80.3% | +20.2% |
| Operating income | +34.4% | +22.8% | — | — |
| Net income | +641.2% | +100.6% | — | — |
| EPS (diluted) | +61.9% | +89.5% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HBM quarterly EPS vs estimates
Hudbay Minerals beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 11, 2026 (estimate $0.35).
HBM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.21B | $2.02B | $1.69B | $1.46B | $1.50B | $1.09B | $1.24B | $1.47B | $1.40B | $1.13B |
| Cost of revenue | $1.47B | $1.47B | $1.30B | $1.18B | $1.37B | $1.05B | $1.09B | $1.10B | $993.2M | $905.8M |
| Gross profit | $743.2M | $553.8M | $392.5M | $276.9M | $131.0M | $39.0M | $151.5M | $373.7M | $409.1M | $222.9M |
| Research & development | — | — | — | — | — | — | $30.8M | $28.6M | $15.5M | $4.7M |
| Sales, general & admin | $94.7M | $57.0M | $39.2M | $1.4M | $41.5M | $41.4M | $36.2M | $27.2M | $42.3M | $37.8M |
| Total operating expenses | $181.6M | $135.8M | $92.3M | −$26.2M | $112.8M | $76.2M | $440.3M | $74.9M | $56.6M | $53.1M |
| Operating income | $561.6M | $418.0M | $300.2M | $303.1M | $18.3M | −$37.2M | −$288.8M | $298.9M | $352.5M | $169.8M |
| Interest income | $22.3M | $15.7M | $7.9M | $2.6M | $129.7M | $1.8M | $69.5M | $40.6M | $84.8M | $137.8M |
| Interest expense | $75.1M | $80.4M | $88.1M | $72.6M | $81.8M | $96.4M | $81.2M | $129.7M | $159.9M | $161.2M |
| Income before taxes | $912.0M | $251.6M | $151.8M | $95.8M | −$202.8M | −$179.1M | −$452.8M | $170.8M | $172.9M | $5.6M |
| Income taxes | $347.7M | $183.8M | $82.3M | $25.4M | $41.6M | −$34.5M | −$109.0M | $85.4M | $33.2M | $40.8M |
| Net income | $568.5M | $76.7M | $66.4M | $70.4M | −$244.4M | −$144.6M | −$343.8M | $85.4M | $139.7M | −$35.2M |
| EBITDA | $1.44B | $780.3M | $650.8M | $530.3M | $274.4M | $267.2M | −$33.4M | $573.3M | $549.6M | $449.1M |
| EPS (diluted) | $0.68 | $0.42 | $0.22 | $0.10 | $0.24 | −$0.44 | −$0.19 | $0.38 | $0.58 | $0.13 |
| Gross margin | 33.6% | 27.4% | 23.2% | 18.9% | 8.7% | 3.6% | 12.2% | 25.4% | 29.2% | 19.7% |
| Operating margin | 25.4% | 20.7% | 17.8% | 20.7% | 1.2% | −3.4% | −23.3% | 20.3% | 25.1% | 15.0% |
| Net margin | 25.7% | 3.8% | 3.9% | 4.8% | −16.3% | −13.2% | −27.8% | 5.8% | 10.0% | −3.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $651.0M | $757.3M | $732.9M | $346.8M | $536.4M | $594.9M | $584.9M | $485.8M | $425.5M | $525.0M | $602.2M | $480.5M |
| Cost of revenue | $384.2M | $389.3M | $462.8M | $281.5M | $359.9M | $363.6M | $400.5M | $346.0M | $347.9M | $373.0M | $405.4M | $374.1M |
| Gross profit | $266.8M | $368.0M | $270.1M | $65.3M | $176.5M | $231.3M | $184.4M | $139.8M | $77.6M | $152.0M | $196.8M | $106.4M |
| Sales, general & admin | $19.4M | $34.4M | $28.9M | $31.4M | $20.7M | $13.7M | $19.8M | $23.7M | $18.4M | $16.6M | $11.4M | $10.1M |
| Total operating expenses | $30.6M | $65.4M | $52.9M | $54.9M | $24.7M | $49.1M | $34.7M | $34.1M | $32.9M | $40.2M | $66.8M | −$8.7M |
| Operating income | $236.2M | $302.6M | $217.2M | $10.4M | $151.8M | $182.2M | $149.7M | $105.7M | $44.7M | $111.8M | $129.9M | $115.1M |
| Interest income | $7.1M | $10.3M | $5.4M | $5.9M | $5.5M | $5.5M | $4.8M | $5.0M | $3.4M | $2.5M | $1.6M | $3.4M |
| Interest expense | $15.8M | $17.9M | $17.5M | $18.0M | $19.1M | $19.5M | $18.9M | $20.2M | $25.9M | $23.7M | $24.8M | $23.8M |
| Income before taxes | $234.3M | $339.0M | $257.1M | $330.5M | $153.1M | $171.3M | $103.7M | $79.7M | $400,000 | $67.8M | $81.0M | $84.1M |
| Income taxes | $99.7M | $147.5M | $129.1M | $108.1M | $38.4M | $72.1M | $84.4M | $29.4M | $20.7M | $49.3M | $47.5M | $38.7M |
| Net income | $133.9M | $190.4M | $128.0M | $222.4M | $117.7M | $100.4M | $21.2M | $49.7M | −$16.5M | $22.3M | $30.7M | $45.1M |
| EBITDA | $326.2M | $460.9M | $431.7M | $435.7M | $273.0M | $303.0M | $254.7M | $201.0M | $124.3M | $205.5M | $203.8M | $219.3M |
| EPS (diluted) | $0.28 | $0.40 | $0.22 | $0.03 | $0.19 | $0.24 | $0.18 | $0.13 | −$0.04 | $0.16 | $0.20 | $0.07 |
| Gross margin | 41.0% | 48.6% | 36.9% | 18.8% | 32.9% | 38.9% | 31.5% | 28.8% | 18.2% | 29.0% | 32.7% | 22.1% |
| Operating margin | 36.3% | 40.0% | 29.6% | 3.0% | 28.3% | 30.6% | 25.6% | 21.8% | 10.5% | 21.3% | 21.6% | 24.0% |
| Net margin | 20.6% | 25.1% | 17.5% | 64.1% | 21.9% | 16.9% | 3.6% | 10.2% | −3.9% | 4.2% | 5.1% | 9.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HBM's financial statements (latest annual report filed March 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HBM financial results
In fiscal year 2025 (ended December 31, 2025), Hudbay Minerals reported revenue of $2.2 billion, up 9.4% from the year before. It had net income of $568.5 million (up 641.2%), a net profit margin of 25.7%. Diluted earnings per share came to $0.68. Over five years revenue grew at an average rate of 15.1% a year.
See the HBM stock overview for the latest quote and news, or the HBM chart for price history and technical indicators.
HBM income statement FAQ
What is Hudbay Minerals's annual revenue?
Hudbay Minerals reported total revenue of $2.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.4% from $2.0 billion the previous year.
Is Hudbay Minerals profitable?
Yes. Hudbay Minerals reported net income of $568.5 million in fiscal 2025, a net profit margin of 25.7%; its operating margin was 25.4%.
What is Hudbay Minerals's gross margin?
Hudbay Minerals's gross margin was 33.6% in fiscal 2025: for every $100 of revenue, Hudbay Minerals kept $34 after the direct cost of its products and services.
How fast is Hudbay Minerals growing?
Revenue grew 15.1% a year on average over the last five fiscal years, from $1.1 billion to $2.2 billion.
What are Hudbay Minerals's earnings per share?
Hudbay Minerals earned $0.68 per diluted share in fiscal 2025, compared with $0.42 a year earlier.
When will Hudbay Minerals report its next earnings?
Hudbay Minerals is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Hudbay Minerals's fiscal year end?
Hudbay Minerals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 27, 2026.