Freeport-McMoRan(FCX) ZACKS·2025-01-23 16:45Core Insights - Freeport-McMoRan Inc. (FCX) reported a net income of 388 million or 27 cents in the same quarter last year [1] - Adjusted earnings per share were 31 cents, exceeding the Zacks Consensus Estimate of 24 cents [1] - Revenues fell nearly 3.1% year over year to 5,921.9 million due to lower copper sales [2] Operational Highlights - Copper production decreased by nearly 4.9% year over year to 1,041 million pounds, missing the estimate of 1,088 million pounds [3] - Consolidated sales of copper dropped around 11.1% year over year to 992 million pounds, surpassing the estimate of 980 million pounds [3] - Gold sales were 350,000 ounces, down approximately 36.2% year over year, but higher than the estimate of 340,000 ounces [4] - Molybdenum sales totaled 18 million pounds, down around 18.2% year over year, lagging behind the estimate of 20 million pounds [4] Financial Position - Operating cash flows amounted to approximately 7.2 billion for the full year 2024 [6] - Capital expenditures for Q4 reached 0.6 billion for significant mining projects and 6.2 billion for 2025, based on current sales volume and cost forecasts, assuming average prices of 2,700 per ounce of gold, and 5 billion, with 1.7 billion for discretionary growth projects [8] - Expected consolidated sales for 2025 include approximately 4 billion pounds of copper, 1.6 million ounces of gold, and 88 million pounds of molybdenum, with specific first-quarter estimates of 850 million pounds of copper, 225,000 ounces of gold, and 22 million pounds of molybdenum [9] Price Performance - Freeport's shares have declined by 1.6% over the past year, contrasting with an 11.7% rise in the industry [10]