Freeport-McMoRan (FCX) Expected to Beat Earnings Estimates: Can the Stock Move Higher?

Company Overview - Freeport-McMoRan is expected to report quarterly earnings of $0.46 per share, indicating no change from the year-ago quarter, with revenues projected at $7.12 billion, reflecting a 7.5% increase year-over-year [3]. Earnings Expectations - Wall Street anticipates flat earnings compared to the previous year, but higher revenues could influence the stock price depending on how actual results compare to estimates [1][2]. - The consensus EPS estimate has been revised 5.03% higher in the last 30 days, indicating a more optimistic outlook from analysts [4]. Earnings Surprise Prediction - The Most Accurate Estimate for Freeport-McMoRan is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +1.62%, suggesting a likelihood of beating the consensus EPS estimate [12]. - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10]. Historical Performance - In the last reported quarter, Freeport-McMoRan met the expected earnings of $0.24 per share, showing no surprise [13]. - Over the past four quarters, the company has surpassed consensus EPS estimates two times [14]. Industry Context - In the Zacks Mining - Non Ferrous industry, Southern Copper is expected to report earnings of $1.07 per share, a decrease of 12.3% year-over-year, with revenues projected at $3.01 billion, down 3.5% from the previous year [18]. - The consensus EPS estimate for Southern Copper has been revised 15% lower in the last 30 days, resulting in an Earnings ESP of 0%, making it challenging to predict an earnings beat [19].