We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's What Key Metrics Tell Us About Freeport-McMoRan (FCX) Q1 Earnings
Read MoreHide Full Article
Freeport-McMoRan (FCX - Free Report) reported $5.39 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 18.4%. EPS of $0.52 for the same period compares to $1.07 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.45 billion, representing a surprise of -1.07%. The company delivered an EPS surprise of +10.64%, with the consensus EPS estimate being $0.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Freeport-McMoRan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production in thousands of Ounces - Gold - Indonesia: 402 Mlbs versus the 11-analyst average estimate of 381.36 Mlbs.
Sales in millions of pounds - Copper - Consolidated: 832 Mlbs versus 950.86 Mlbs estimated by 11 analysts on average.
Sales in thousands of ounces - Gold - Consolidated basis: 270 Koz versus the 11-analyst average estimate of 335.46 Koz.
Sales in millions of pounds - Molybdenum - Consolidated basis: 19 Mlbs versus the 11-analyst average estimate of 20.43 Mlbs.
Production in millions of pounds - Molybdenum - Consolidated: 21 Mlbs versus 19.79 Mlbs estimated by 10 analysts on average.
Revenues- Atlantic Copper Smelting & Refining: $756 million versus $663.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
Revenues- Indonesia: $1.37 billion versus $1.62 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -43.1% change.
Revenues- Corporate, other & eliminations: -$1.59 billion versus -$1.41 billion estimated by six analysts on average.
Revenues- South America copper mines: $1.44 billion versus $1.11 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
Revenues- North America copper mines: $1.67 billion versus the five-analyst average estimate of $1.46 billion. The reported number represents a year-over-year change of -14.4%.
Revenues- Rod & Refining: $1.53 billion versus $1.47 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -12.8% change.
Revenues- Molybdenum: $223 million versus the four-analyst average estimate of $237.51 million. The reported number represents a year-over-year change of +197.3%.
Shares of Freeport-McMoRan have returned +9.5% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's What Key Metrics Tell Us About Freeport-McMoRan (FCX) Q1 Earnings
Freeport-McMoRan (FCX - Free Report) reported $5.39 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 18.4%. EPS of $0.52 for the same period compares to $1.07 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.45 billion, representing a surprise of -1.07%. The company delivered an EPS surprise of +10.64%, with the consensus EPS estimate being $0.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Freeport-McMoRan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production in thousands of Ounces - Gold - Indonesia: 402 Mlbs versus the 11-analyst average estimate of 381.36 Mlbs.
- Sales in millions of pounds - Copper - Consolidated: 832 Mlbs versus 950.86 Mlbs estimated by 11 analysts on average.
- Sales in thousands of ounces - Gold - Consolidated basis: 270 Koz versus the 11-analyst average estimate of 335.46 Koz.
- Sales in millions of pounds - Molybdenum - Consolidated basis: 19 Mlbs versus the 11-analyst average estimate of 20.43 Mlbs.
- Production in millions of pounds - Molybdenum - Consolidated: 21 Mlbs versus 19.79 Mlbs estimated by 10 analysts on average.
- Revenues- Atlantic Copper Smelting & Refining: $756 million versus $663.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
- Revenues- Indonesia: $1.37 billion versus $1.62 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -43.1% change.
- Revenues- Corporate, other & eliminations: -$1.59 billion versus -$1.41 billion estimated by six analysts on average.
- Revenues- South America copper mines: $1.44 billion versus $1.11 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
- Revenues- North America copper mines: $1.67 billion versus the five-analyst average estimate of $1.46 billion. The reported number represents a year-over-year change of -14.4%.
- Revenues- Rod & Refining: $1.53 billion versus $1.47 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -12.8% change.
- Revenues- Molybdenum: $223 million versus the four-analyst average estimate of $237.51 million. The reported number represents a year-over-year change of +197.3%.
View all Key Company Metrics for Freeport-McMoRan here>>>Shares of Freeport-McMoRan have returned +9.5% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.