Freeport-McMoRan (FCX) Reports Q1 Earnings: What Key Metrics Have to Say

Core Viewpoint - Freeport-McMoRan reported a revenue of $5.73 billion for Q1 2025, reflecting a year-over-year decline of 9.4% and an EPS of $0.24, down from $0.32 a year ago, but exceeding the Zacks Consensus Estimate of $5.31 billion by 7.92% [1] Financial Performance - The company’s stock has returned -15.2% over the past month, underperforming the Zacks S&P 500 composite, which declined by -5.1% [3] - Freeport-McMoRan holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Key Metrics - Average realized price per pound of copper was $4.44, surpassing the average estimate of $4.36 [4] - Molybdenum production in South America (Cerro Verde) was 6 million pounds, exceeding the estimate of 5.82 million pounds [4] - Molybdenum by-product production in North America reached 8 million pounds, above the estimate of 7.73 million pounds [4] - Gold sales in North America totaled 3,000 ounces, below the estimate of 3,870 ounces [4] - Consolidated gold sales were 128,000 ounces, slightly above the estimate of 126,130 ounces [4] Revenue Breakdown - Revenue from Indonesia was $1.57 billion, significantly higher than the estimate of $1.31 billion, but down 44.4% year-over-year [4] - Molybdenum revenues were $177 million, below the estimate of $261.94 million, but up 22.1% year-over-year [4] - Revenues from South America copper mines were $1.38 billion, exceeding the estimate of $1.29 billion, with a year-over-year increase of 21.1% [4] - North America copper mines generated $1.63 billion, slightly above the estimate of $1.56 billion, reflecting an 8.5% year-over-year increase [4] - Rod & Refining revenues were $1.63 billion, surpassing the estimate of $1.49 billion, with an 8.9% year-over-year increase [4] - Atlantic Copper Smelting & Refining revenues reached $755 million, above the estimate of $708.34 million, with a 12.2% year-over-year increase [4] - Corporate, other & eliminations reported revenues of -$1.41 billion, worse than the estimate of -$1.32 billion, reflecting a -3.2% year-over-year change [4]