Subject. The article investigates financial and economic crises and their impact on enterprise performance. Objectives. The study aims to determine the direction and power of the impact of business cycles and economic shocks on the performance of copper industry companies. Methods. We employ the comparative analysis and generalization of information obtained from various sources. Results. We performed a content analysis of analytical materials of leading domestic and foreign publications for recent years. Using the Hodrick-Prescott filter, we revealed the business cycles in the Russian economy, i.e. recession periods (financial and economic crises) and economic recovery. We analyzed the business cycles of the corporate economy of copper industry, using the Hodrick-Prescott filter and quarterly financial statements of Norilsk Nickel and Uralelectromed from Q1 2008 to Q3 2017. On this basis, we developed a regression model, which we estimated under the least-square method. Conclusions. Despite the export orientation of the copper production, external economic shocks directly affect the performance of companies of the copper sub-industry. The findings may be used by the management of metallurgical holdings and individual copper industry enterprises to theoretically justify corporate development programs, as well as by regional executive authorities to identify ways to increase the investment appeal of regions.