Freeport-McMoRan Inc. (NYSE:FCX) Q2 2024 Earnings Conference Call July 23, 2024 10:00 AM ET Company Participants David Joint - Vice President, Investor Relations Richard Adkerson - Chairman Kathleen Quirk - President & Chief Executive Officer Cory Stevens - President, Mining Services Mark Johnson - President & Chief Operating Officer, Freeport-McMoRan Indonesia; Executive Vice President, PT Freeport Indonesia Conference Call Participants Alan Spence - BNP Paribas Carlos De Alba - Morgan Stanley Liam Fitzpat ...

Freeport-McMoRan Inc. (FCX) recorded net income (attributable to common stock) of $616 million or 42 cents per share in second-quarter 2024, up around 80% from $343 million or 23 cents in the year-ago quarter.Barring one-time items, adjusted earnings per share were 46 cents, topping the Zacks Consensus Estimate of 39 cents.Revenues rose roughly 15% year over year to $6,624 million. The figure surpassed the Zacks Consensus Estimate of $5,985.9 million. The company witnessed higher copper and gold prices in t ...

THE VALUE O F FCX Conference Call 2nd Quarter 2024 Results July 23, 2024 FCX LISTED NYSE Member fcx.com Cautionary Statement This presentation contains forward-looking statements in which FCX discusses its potential future performance, operations and projects. Forward-looking statements are all statements other than statements of historical facts, such as plans, projections, or expectations relating to business outlook, strategy, goals or targets; global market conditions; ore grades and milling rates; prod ...

Freeport-McMoRan (FCX) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.95%. A quarter ago, it was expected that this mining company would post earnings of $0.27 per share when it actually produced earnings of $0.32, delivering a surprise of 18.52%.Over the last four quarters, the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 2, 2024 Freeport-McMoRan Inc. (Exact name of registrant as specified in its charter) Delaware 001-11307-01 74-2480931 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 333 North Central Avenue Phoenix AZ 85004 (Address of principal ex ...

Core Viewpoint - Freeport-McMoRan is expected to report disappointing Q2 results, but the long-term investment potential hinges on copper prices, which have recently declined despite strong cash flows at higher prices [2][4]. Group 1: Q2 Performance and Guidance - Freeport-McMoRan anticipates a Q2 average copper price of $4.45/lb, down from previous expectations of sustainable levels above $5/lb [4]. - The company faced export issues in Indonesia, resulting in a shortfall of 5% in copper and 30% in gold production targets for April 2024 [4]. - Consensus estimates for Q2 include an EPS of $0.38 (up 8.3% YoY) and revenue of $6.0 billion (up 4.8% YoY) [4]. Group 2: Long-term Production and Cash Flow - Freeport-McMoRan controls 104 billion pounds of copper reserves at a $3.00/lb price, with plans to increase annual copper production by ~2 billion pounds by 2030 [5][6]. - The company is investing $3.6 billion in capital expenditures this year, with plans to increase to $3.9 billion next year, while maintaining flexibility to halt spending if copper prices decline [6]. - The long-term cash flow potential is significant, with projections of over $7.5 billion annually at $4/lb copper and over $11 billion at $5/lb copper [4][6]. Group 3: Market Dynamics and Future Outlook - The demand for copper is expected to rise significantly due to the global push for electric vehicles (EVs) and renewable energy, where copper usage is 2x to 4x higher than traditional sources [6]. - Freeport-McMoRan's market cap stands at $66 billion, positioning it as a solid investment if copper prices remain above $4/lb, with potential for higher prices in the coming years [6][7]. - The recent weakness in copper prices presents a buying opportunity, as the long-term demand for copper remains strong despite potential volatility [7].

Freeport-McMoRan Inc. (FCX) is set to release second-quarter 2024 results before the opening bell on Jul 23.The mining giant’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 23.5%, on average. While Freeport is expected to have gained from higher copper prices in the second quarter, increased costs and lower sales volumes are likely to have affected its results.The stock has gained 9.6% in the past year compared with ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Freeport-McMoRan (FCX) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 23, 2024, might help the stock move higher if these key numbers are better than exp ...

In the latest trading session, Freeport-McMoRan (FCX) closed at $50.38, marking a +1.65% move from the previous day. This move outpaced the S&P 500's daily loss of 0.31%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq lost 1.09%.Shares of the mining company witnessed a loss of 3.82% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.38% and underperforming the S&P 500's gain of 2.73%.Analysts and investors alike will be keeping a close eye on the ...

Freeport-McMoRan (FCX) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this mining company have returned -8.2%, compared to the Zacks S&P 500 composite's +4% change. During this period, the Zacks Mining - Non Ferrous industry, which Freeport-McMoRan falls in, has lost 6.8%. The key question now is: What could be the stock's future direction?Althoug ...