Earnings Summary: A snapshot of Freeport McMoRan’s Q3 2023 results

Mining company Freeport-McMoRan Inc. (NYSE: FCX) on Thursday announced financial results for the third quarter of 2023, reporting higher adjusted earnings and revenues.

• Total revenues increased to $5.82 billion in the three months ended September 2023 from $5.0 billion in the same period last year
• Net income attributable to shareholders was $454 million or $0.31 per share in the third quarter, compared to $404 million or $0.28 per share last year
• Adjusted net income attributable to shareholders increased to $0.39 per share in Q3 from $0.26 per share last year
• Consolidated production totaled 1.1 billion pounds of copper, 532 thousand ounces of gold, and 20 million pounds of molybdenum in the quarter
• Total sales came in at 1.1 billion pounds of copper, 399 thousand ounces of gold, and 20 million pounds of molybdenum
• Operating cash flows totaled $1.2 billion in the third quarter of 2023