Freeport-McMoRan Inc. (NYSE:FCX) Q1 2024 Earnings Conference Call April 23, 2024 10:00 AM ET Company Participants David Joint – Vice President-Investor Relations Richard Adkerson – Chairman of the Board and Chief Executive Officer Kathleen Quirk – President Conference Call Participants Liam Fitzpatrick – Deutsche Bank Chris LaFemina – Jefferies Michael Dudas – Vertical Research Partners Bill Peterson – JPMorgan Lawson Winder – Bank of America Securities John Tumazos – John Tumazos Very Independent Research ...

FCX Conference Call 1st Quarter 2024 Results April 23, 2024 ...

Freeport-McMoRan (FCX) reported $6.32 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 17.3%. EPS of $0.32 for the same period compares to $0.52 a year ago.The reported revenue represents a surprise of +11.74% over the Zacks Consensus Estimate of $5.66 billion. With the consensus EPS estimate being $0.27, the EPS surprise was +18.52%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to deter ...

Freeport-McMoRan Inc. (FCX) recorded net income (attributable to common stock) of $473 million or 32 cents per share in first-quarter 2024, down around 29% from $663 million or 46 cents in the year-ago quarter.Barring one-time items, adjusted earnings per share were 32 cents, topping the Zacks Consensus Estimate of 27 cents.Revenues rose roughly 17% year over year to $6,321 million. The figure also surpassed the Zacks Consensus Estimate of $5,657.1 million. The company witnessed higher copper sales in the r ...

Freeport-McMoRan (FCX) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.52%. A quarter ago, it was expected that this mining company would post earnings of $0.21 per share when it actually produced earnings of $0.27, delivering a surprise of 28.57%.Over the last four quarters, the c ...

Freeport-McMoRan Reports First-Quarter 2024 Results • Strong first-quarter 2024 operating performance: ◦ Copper sales volumes exceeded January 2024 estimate and first-quarter 2023 ◦ Unit net cash costs below January 2024 estimate and first-quarter 2023 • Indonesia smelter projects nearing completion with start-up activities expected in second-quarter 2024 • Solid financial position • Favorable market fundamentals ▪ Net income attributable to common stock in first-quarter 2024 totaled $473 million, $0.32 per ...

The case for this industrial metal is only getting more robust with the growth in AI applications.Growth in artificial intelligence (AI) applications means more demand for data center power capacity to fuel it, which means more demand for copper. That's the latest argument from copper bulls. While it's easy to be cynical and conclude it's merely the newest fad latching onto the market's love for anything AI-related, the reality is the case for copper is compelling, and it's one that investors in Freeport-Mc ...

Wall Street analysts forecast that Freeport-McMoRan (FCX) will report quarterly earnings of $0.30 per share in its upcoming release, pointing to a year-over-year decline of 42.3%. It is anticipated that revenues will amount to $5.61 billion, exhibiting an increase of 4.2% compared to the year-ago quarter.The current level reflects an upward revision of 9.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised ...

Freeport-McMoRan Inc. (FCX) is set to release first-quarter 2024 results before the opening bell on Apr 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 21.5%, on average. Freeport is expected to have gained from its efforts to increase mining rates, the strength in copper prices and lower costs in the first quarter.The stock has gained 18.9% in the past year compared with the industry’s 25.1% rise ...

The most recent trading session ended with Freeport-McMoRan (FCX) standing at $50.74, reflecting a -0.35% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.74%. On the other hand, the Dow registered a loss of 0.01%, and the technology-centric Nasdaq increased by 1.68%.The the stock of mining company has risen by 17.3% in the past month, leading the Basic Materials sector's gain of 3.54% and the S&P 500's gain of 0.8%.The investment community wi ...