Compared to Estimates, Freeport-McMoRan (FCX) Q4 Earnings: A Look at Key Metrics

Core Insights - Freeport-McMoRan reported revenue of $5.72 billion for the quarter ended December 2024, a decrease of 3.1% year-over-year, and an EPS of $0.31, up from $0.27 in the same quarter last year, indicating a positive EPS surprise of 29.17% compared to the consensus estimate [1] Financial Performance - The reported revenue was 3.41% below the Zacks Consensus Estimate of $5.92 billion [1] - Average realized price per pound of copper was $4.21, exceeding the three-analyst average estimate of $4.06 [4] - Gold sales in North America were 7 Koz, significantly higher than the estimated 4.2 Koz [4] - Gold sales in Indonesia reached 343 Koz, slightly above the estimated 338.45 Koz [4] - Copper sales from Indonesia's Grasberg mine were 376 million pounds, below the estimated 392.99 million pounds [4] - Total copper sales in South America were 298 million pounds, slightly above the estimated 290.17 million pounds [4] Revenue Breakdown - Revenues from Indonesia were $2.25 billion, a year-over-year decline of 17.9%, and below the estimated $2.28 billion [4] - Molybdenum revenues were $177 million, representing a 12.7% increase year-over-year, but below the estimated $260.66 million [4] - Revenues from South America copper mines were $1.21 billion, reflecting an 8.5% year-over-year increase, and slightly below the estimated $1.22 billion [4] - North America copper mines generated $1.61 billion, a 15.2% increase year-over-year, exceeding the estimated $1.35 billion [4] - Rod & Refining revenues were $1.47 billion, close to the estimated $1.48 billion, with an 8.8% year-over-year increase [4] - Atlantic Copper Smelting & Refining revenues were $679 million, below the estimated $765.75 million, with a 12.1% year-over-year increase [4] - Corporate, other & eliminations reported -$1.66 billion, worse than the estimated -$1.44 billion, but showing a 14.5% year-over-year improvement [4] Stock Performance - Freeport-McMoRan shares returned -0.3% over the past month, while the Zacks S&P 500 composite increased by 2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]