Categories Earnings, Industrials

Earnings: A snapshot of Freeport McMoRan’s Q2 2023 financial results

Mining company Freeport-McMoRan Inc. (NYSE: FCX) on Thursday announced financial results for the second quarter of 2023, reporting lower adjusted earnings despite an increase in revenues.

  • Total revenues increased to $5.74 billion in the three months ended June 2023 from $5.42 billion in the same period last year
  • Net income attributable to shareholders was $343 million or $0.23 per share in the second quarter, compared to $840 million or $0.57 per share last year
  • Adjusted net income attributable to shareholders decreased to $500 million or $0.35 per share from $854 or $0.58 per share
  • Consolidated production totaled 1.1 billion pounds of copper, 483 thousand ounces of gold, and 21 million pounds of molybdenum in the quarter
  • Total sales came in at 1.0 billion pounds of copper, 495 thousand ounces of gold, and 20 million pounds of molybdenum
  • Operating cash flows totaled $1.7 billion in the second quarter of 2023

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Key highlights from McCormick & Company’s (MKC) Q3 2023 earnings results

McCormick & Company, Incorporated (NYSE: MKC) reported third quarter 2023 earnings results today. Net sales increased 6% year-over-year to $1.68 billion, but narrowly missed estimates of $1.70 billion.   Net income

Carnival Corporation (CCL): A couple of factors that work in favour of this cruise ship operator

Shares of Carnival Corporation & plc (NYSE: CCL) were down on Monday. The stock has gained 69% year-to-date. The company delivered strong results for the third quarter of 2023 and although

Earnings Preview: PepsiCo (PEP) likely to deliver another strong quarter

Over the years, brand loyalty and diversification of the portfolio have played a key role in the continued success of PepsiCo, Inc. (NASDAQ: PEP) The soft drink giant is now

Add Comment
Viewing Highlight