The earnings call highlighted strong financial performance and operational achievements, particularly in copper production and innovative initiatives. However, challenges such as export approvals in Indonesia, increased capital expenditures, and geopolitical risks were also discussed. The sentiment was balanced with optimism about future growth opportunities and ongoing strategic initiatives.

Company Guidance

During the Freeport-McMoRan Q4 2024 earnings call, the executives provided guidance encompassing several key metrics and strategic focuses. The company reported achieving $10 billion in EBITDA for 2024, a 14% increase over 2023, with operating cash flows improving by 35% to over $7 billion. Copper sales were highlighted, with an average realization of $4.21 per pound and gold slightly above $2,400 per ounce. For 2025, the company aims to improve execution across operations, targeting a run rate of 300 million pounds of additional copper by year-end, and plans to scale this to 800 million pounds annually by 2030. Freeport also intends to leverage its strong operational execution, with projected capital expenditures of approximately $4.4 billion per year in 2025 and 2026, including investments in growth projects such as the Kucing Liar development. The company emphasized maintaining a strong balance sheet and outlined potential impacts from geopolitical and legislative factors, such as potential U.S. tax credits on copper production.

Strong Financial Performance

FCX achieved $10 billion in EBITDA for 2024, a 14% increase over 2023, with operating cash flows of over $7 billion, a 35% improvement from the prior year.

Copper Sales and Market Position

Copper sales targets were met, and average copper prices were $4.21 per pound, with the company positioning itself strongly in the market for future demand.

Innovative Leach Initiative

The leach initiative achieved a 50% increase in copper production in 2024 at a very low cost, with targets to produce 300 million to 400 million pounds by 2026 and ultimately 800 million pounds by 2030.

U.S. Production Increase

Production in the U.S. is expected to increase by 8% in 2025, with opportunities for further increases in 2026 and 2027.

Progress on Indonesian Smelter

Despite a fire incident, the smelter recovery activities are in progress, with production expected to recommence by mid-2025.

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Freeport-McMoRan (FCX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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FCX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 25, 2018	2018 (Q2)	- / 0.58	0.17	241.18% (+0.41)	―	―
Oct 24, 2018	2018 (Q3)	- / 0.35	0.34	2.94% (<+0.01)	―	―
Jan 24, 2019	2018 (Q4)	- / 0.11	0.51	-78.43% (-0.40)	―	―
Apr 25, 2019	2019 (Q1)	- / 0.05	0.46	-89.13% (-0.41)	―	―
Jul 24, 2019	2019 (Q2)	- / -0.04	0.58	-106.90% (-0.62)	―	―
Oct 23, 2019	2019 (Q3)	- / -0.01	0.35	-102.86% (-0.36)	―	―
Jan 23, 2020	2019 (Q4)	- / 0.02	0.11	-81.82% (-0.09)	―	―
Apr 24, 2020	2020 (Q1)	- / -0.16	0.05	-420.00% (-0.21)	―	―
Jul 23, 2020	2020 (Q2)	- / 0.03	-0.04	175.00% (+0.07)	―	―
Oct 22, 2020	2020 (Q3)	- / 0.29	-0.01	3000.00% (+0.30)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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FCX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 23, 2025	$39.09	$38.50	-1.51%
Oct 22, 2024	$47.76	$48.34	+1.21%
Jul 23, 2024	$45.69	$44.96	-1.60%
Apr 23, 2024	$48.47	$47.52	-1.96%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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