Freeport-McMoRan to Post Q4 Earnings: What's in Store for the Stock?

Core Viewpoint - Freeport-McMoRan Inc. (FCX) is expected to report its fourth-quarter 2024 results on January 23, with anticipated challenges due to weaker copper prices and sales volumes impacting performance [1][2]. Revenue Estimates - The Zacks Consensus Estimate for FCX's fourth-quarter consolidated revenues is $6,003 million, indicating a year-over-year increase of approximately 1.7% [5]. Factors Impacting Performance - Weaker copper prices, driven by reduced demand in China due to the property crisis, are likely to have negatively affected FCX's performance in the fourth quarter [6]. - Copper prices experienced volatility, with a nearly 12% decline in the fourth quarter, closing at around$ 4 per pound. The estimated average realized price for copper for FCX is $4.06 per pound, reflecting a sequential decline of 5.6% [7]. - Lower sales volumes are also expected to impact performance, with third-quarter copper sales volumes down roughly 7% year-over-year. FCX anticipates consolidated copper sales of 980 million pounds for the fourth quarter, down from 1,035 million pounds in the prior quarter [8]. Earnings Prediction Model - The earnings prediction model does not indicate a conclusive earnings beat for FCX this quarter, with an Earnings ESP of -0.38%. The Zacks Consensus Estimate for earnings is currently set at 25 cents [9][10].