Freeport-McMoRan Misses Q4 Revenue Estimates, Shares Slide As Copper Sales And Revenue Decline
Fourth Quarter Results: Freeport-McMoRan reported fourth-quarter FY24 revenue of $5.72 billion, missing expectations, with copper sales slightly above estimates but down year-over-year due to lower ore grades. Adjusted EPS was $0.31, surpassing the consensus of $0.22.
2025 Outlook: The company anticipates increased copper production and operating cash flows of approximately $6.2 billion in 2025, while warning of a potential long-term deficit in global copper supply driven by rising demand from electrification.
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World's Largest Copper Producer Freeport Estimates Proposed Tariffs Could Raise US Cost Of Goods Purchased By 5%
Quarterly Performance: Freeport-McMoRan reported a first-quarter FY25 revenue of $5.73 billion, surpassing expectations, with copper sales volumes at 872 million pounds despite a year-over-year decline due to maintenance in Indonesia. Adjusted EPS was $0.24, and operating cash flow totaled $1.06 billion.
2025 Outlook: The company anticipates copper sales volumes of 4.0 billion pounds and expects a reduction in average unit net cash costs for U.S. copper mines, projecting operating cash flows of approximately $7 billion and capital expenditures of $4.4 billion for the year.
Freeport-McMoRan's Copper Sales Fall Sparks Mixed Analyst Reactions, Long-Term Upside Remains In Play
Analyst Revisions: Following Freeport-McMoRan's fourth-quarter results, analysts have adjusted price forecasts and ratings, with JP Morgan maintaining a $48 target and Neutral rating, while others like Jefferies downgraded from Buy to Hold, lowering the forecast to $40.
Sales Expectations: The company anticipates significant sales volumes for 2025 but faces challenges in the first quarter due to paused shipments and higher costs, leading to expected cuts in earnings estimates despite potential long-term growth opportunities.
Freeport-McMoRan Misses Q4 Revenue Estimates, Shares Slide As Copper Sales And Revenue Decline
Fourth Quarter Results: Freeport-McMoRan reported fourth-quarter FY24 revenue of $5.72 billion, missing expectations, with copper sales slightly above estimates but down year-over-year due to lower ore grades. Adjusted EPS was $0.31, surpassing the consensus of $0.22.
2025 Outlook: The company anticipates increased copper production and operating cash flows of approximately $6.2 billion in 2025, while warning of a potential long-term deficit in global copper supply driven by rising demand from electrification.
World's Largest Copper Producer Freeport Estimates Proposed Tariffs Could Raise US Cost Of Goods Purchased By 5%
Quarterly Performance: Freeport-McMoRan reported a first-quarter FY25 revenue of $5.73 billion, surpassing expectations, with copper sales volumes at 872 million pounds despite a year-over-year decline due to maintenance in Indonesia. Adjusted EPS was $0.24, and operating cash flow totaled $1.06 billion.
2025 Outlook: The company anticipates copper sales volumes of 4.0 billion pounds and expects a reduction in average unit net cash costs for U.S. copper mines, projecting operating cash flows of approximately $7 billion and capital expenditures of $4.4 billion for the year.
Freeport-McMoRan's Copper Sales Fall Sparks Mixed Analyst Reactions, Long-Term Upside Remains In Play
Analyst Revisions: Following Freeport-McMoRan's fourth-quarter results, analysts have adjusted price forecasts and ratings, with JP Morgan maintaining a $48 target and Neutral rating, while others like Jefferies downgraded from Buy to Hold, lowering the forecast to $40.
Sales Expectations: The company anticipates significant sales volumes for 2025 but faces challenges in the first quarter due to paused shipments and higher costs, leading to expected cuts in earnings estimates despite potential long-term growth opportunities.
Freeport-McMoRan Misses Q4 Revenue Estimates, Shares Slide As Copper Sales And Revenue Decline
Fourth Quarter Results: Freeport-McMoRan reported fourth-quarter FY24 revenue of $5.72 billion, missing expectations, with copper sales slightly above estimates but down year-over-year due to lower ore grades. Adjusted EPS was $0.31, surpassing the consensus of $0.22.
2025 Outlook: The company anticipates increased copper production and operating cash flows of approximately $6.2 billion in 2025, while warning of a potential long-term deficit in global copper supply driven by rising demand from electrification.
