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Freeport-McMoRan (FCX)
NYSE:FCX
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.24Last Year’s EPS
0.32Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 24, 2025
|% Change Since: 6.14%
|Next Earnings Date:Jul 17, 2025
Earnings Call Sentiment|Positive
The earnings call presented strong highlights in terms of sales expectations, market positioning, and operational progress, especially in the US and Indonesia. However, challenges remain with export permits in Indonesia and potential tariff impacts on costs. Despite these concerns, the overall outlook remains positive with strategic initiatives in place for growth.Company Guidance
During the Freeport-McMoRan first quarter 2025 conference call, significant guidance was provided focusing on key metrics and future outlook. The company reported $1.9 billion in EBITDA for the quarter, with expectations of improved margins and cash flows moving forward. They anticipate a 20% increase in quarterly copper sales volumes and a near fourfold increase in gold sales for the remainder of the year. Unit net cash costs are projected to be 30% lower on average in the subsequent quarters. The call highlighted ongoing projects, including a 40% increase in the leach production target, aiming for a run rate of 300 million pounds per annum by year's end, and a long-term goal of 800 million pounds per annum. The discussion also included progress on the PTFI smelter, with startup expected by May, and advancements in their US copper sales premium, currently 13% above the London Metals Exchange pricing. Additionally, capital expenditures for 2025 and 2026 are projected at $4.4 billion annually. The company remains focused on operational excellence, leveraging its extensive copper resource base, and maintaining a strong balance sheet, with a commitment to returning cash to shareholders and pursuing value-enhancing growth projects.Strong Copper Sales and Production Expectations
Exceeded expectations on copper sales with projected quarterly copper sales volumes to average about 20% more in the remainder of the year. Gold sales are expected to average nearly four times the first quarter rates, and unit net cash costs are expected to be 30% lower on average in the remaining quarters.
US Copper Market Premium
US copper pricing has reflected market expectations for a tariff on US imports, with the premium currently approximately 13% above LME. This premium implies an approximate $800 million bottom-line annual financial benefit on Freeport's US copper sales.
Progress in Indonesia
Significant progress in Indonesia with the smelter repairs ahead of schedule and strong production expected from Grasberg in the balance of the year. The Precious Metals refinery was inaugurated by the president of Indonesia.
Autonomous Haul Truck Conversion
Successful conversion of 12 out of 33 autonomous trucks at the Baghdad site, with expectations to complete the rest in the coming months, leading to significant efficiency gains.
Leach Innovation Projects
Continued momentum on low-cost leach innovation projects in the US with a target of reaching 300 million pounds per annum by 2025 year-end, with potential to expand to 800 million pounds per annum in the future.
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FCX Earnings History
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 |
|---|---|---|---|
| Apr 24, 2025 | $35.19 | $37.63 | +6.93% |
| Jan 23, 2025 | $38.92 | $38.33 | -1.52% |
| Oct 22, 2024 | $47.54 | $48.13 | +1.24% |
| Jul 23, 2024 | $45.49 | $44.76 | -1.60% |
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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FAQ
When does Freeport-McMoRan (FCX) report earnings?
Freeport-McMoRan (FCX) is schdueled to report earning on Apr 24, 2025, TBA Not Confirmed.
What is Freeport-McMoRan (FCX) earnings time?
Freeport-McMoRan (FCX) earnings time is at Apr 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FCX EPS forecast?
FCX EPS forecast for the fiscal quarter 2025 (Q1) is 0.24.
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