Categories Earnings, Industrials

Earnings: Highlights of Freeport McMoRan’s Q1 2023 financial results

Mining company Freeport-McMoRan Inc. (NYSE: FCX) on Friday reported financial results for the first quarter of 2023.

  • Net income attributable to common stock was $663 million or $0.46 per share in the first quarter, compared to $1.53 billion or $1.04 per share last year
  • Adjusted net income attributable to common stock more than halved to $0.52 per share from $1.07 per share in the year-ago quarter
  • Consolidated production totaled 965 million pounds of copper, 405 thousand ounces of gold, and 21 million pounds of molybdenum during the three-month period
  • Consolidated sales were 832 million pounds of copper, 270 thousand ounces of gold, and 19 million pounds of molybdenum
  • Total first-quarter revenues declined to $5.39 billion from $6.60 billion in the same period of last year

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