Categories Earnings, Other Industries
Earnings Summary: A look at how Freeport-McMoRan performed in Q4 2023
Mining company Freeport-McMoRan Inc. (NYSE: FCX) announced financial results for the fourth quarter of 2023, reporting a decline in earnings and revenues.
- Net income attributable to common stock totaled $388 million or $0.27 per share in Q4, vs. $697 million or $0.48 per share last year
- On an adjusted basis, net income was $393 million or $0.27 per share, after excluding net charges totaling $5 million
- Consolidated production totaled 1.1 billion pounds of copper, 573,000 ounces of gold, and 20 million pounds of molybdenum in Q4
- Total sales were 1.1 billion pounds of copper, 549,000 ounces of gold, and 22 million pounds of molybdenum
- Fourth-quarter revenues decreased to $5.91 billion from $5.76 billion in the same period of 2022
- Operating cash flow was $1.32 billion in the fourth quarter, vs. $1.07 billion a year earlier
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