Freeport-McMoRan reports Q3 adjusted EPS 38c, consensus 35c

Reports Q3 revenue $6.79B, consensus $6.47B. Richard Adkerson, chairman of the board, and Kathleen Quirk, president and CEO, said, “During the third quarter, our global team generated strong margins and cash flows, achieved our production targets, continued to prioritize productivity and cost control, and advanced initiatives for future growth. We remain focused on strong execution of our plans globally as we work to address damage from a recent fire affecting a portion of our new Indonesia smelter facilities. We are confident in our team’s ability to restore smelter operations and achieve a safe and efficient ramp-up as soon as possible. The outlook for our business is positive, supported by our position as a leading copper producer with a strong financial profile, favorable market fundamentals and value enhancing options for future growth.”