Freeport-McMoRan to Post Q2 Earnings: What's in Store for the Stock?

Core Viewpoint - Freeport-McMoRan Inc. (FCX) is expected to report strong second-quarter 2025 results, driven by favorable copper prices, lower unit costs, and increased sales volumes [1][6][10] Group 1: Earnings Performance - FCX has a trailing four-quarter earnings surprise of approximately 10.5%, having beaten the Zacks Consensus Estimate for earnings in two of the last four quarters [1] - The Zacks Consensus Estimate for FCX's second-quarter earnings is currently set at 46 cents, with an Earnings ESP of +1.62% indicating a potential earnings beat [5][6] Group 2: Revenue and Sales Volumes - The Zacks Consensus Estimate for FCX's second-quarter consolidated revenues is projected at $7,121 million, reflecting a year-over-year increase of about 7.5% [7] - Copper sales volumes for the second quarter are estimated at 1.005 billion pounds, representing an 8% year-over-year increase and a 15% sequential rise from the first quarter [6][9] Group 3: Cost Structure - FCX's projected consolidated average unit net cash costs per pound of copper for the second quarter are expected to decline to $1.50 from $2.07 in the prior quarter [10] - The reduction in unit costs is anticipated to be driven by higher copper and gold volumes from operations in Indonesia [10] Group 4: Market Conditions - Copper prices experienced volatility in the second quarter, fluctuating between approximately $4.1 and $5 per pound, ultimately closing above $5 per pound at the end of June [8] - The overall copper price trend in the first half of 2025 showed a gain of roughly 25% [8]