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Freeport-McMoRan (FCX) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Freeport-McMoRan (FCX - Free Report) reported $5.91 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.6%. EPS of $0.27 for the same period compares to $0.52 a year ago.
The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $5.82 billion. With the consensus EPS estimate being $0.21, the EPS surprise was +28.57%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Sales in thousands of ounces - Gold - Consolidated basis: 549 Koz versus the three-analyst average estimate of 584.29 Koz.
Production in millions of pounds - Molybdenum - South America: 5 Mlbs compared to the 5.54 Mlbs average estimate based on three analysts.
Production in millions of pounds - Molybdenum - By-product - North America: 7 Mlbs compared to the 6.93 Mlbs average estimate based on three analysts.
Total Net Cash Cost Per Pound of Copper: $1.52 compared to the $1.51 average estimate based on three analysts.
Sales in thousands of Ounces - Gold - Indonesia: 544 Koz compared to the 580.34 Koz average estimate based on three analysts.
Revenues- Indonesia: $2.74 billion versus the three-analyst average estimate of $2.63 billion. The reported number represents a year-over-year change of +21.9%.
Revenues- Molybdenum: $157 million versus $220.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
Revenues- South America copper mines: $1.11 billion versus $1.10 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.4% change.
Revenues- North America copper mines: $1.40 billion versus $1.32 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.9% change.
Revenues- Rod & Refining: $1.35 billion versus the two-analyst average estimate of $1.47 billion. The reported number represents a year-over-year change of -0.7%.
Revenues- Atlantic Copper Smelting & Refining: $606 million versus $659.67 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.3% change.
Revenues- Corporate, other & eliminations: -$1.45 billion versus the two-analyst average estimate of -$1.68 billion. The reported number represents a year-over-year change of -4%.
Shares of Freeport-McMoRan have returned -10.9% over the past month versus the Zacks S&P 500 composite's +2.4% 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.
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Freeport-McMoRan (FCX) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Freeport-McMoRan (FCX - Free Report) reported $5.91 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.6%. EPS of $0.27 for the same period compares to $0.52 a year ago.
The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $5.82 billion. With the consensus EPS estimate being $0.21, the EPS surprise was +28.57%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Sales in thousands of ounces - Gold - Consolidated basis: 549 Koz versus the three-analyst average estimate of 584.29 Koz.
- Production in millions of pounds - Molybdenum - South America: 5 Mlbs compared to the 5.54 Mlbs average estimate based on three analysts.
- Production in millions of pounds - Molybdenum - By-product - North America: 7 Mlbs compared to the 6.93 Mlbs average estimate based on three analysts.
- Total Net Cash Cost Per Pound of Copper: $1.52 compared to the $1.51 average estimate based on three analysts.
- Sales in thousands of Ounces - Gold - Indonesia: 544 Koz compared to the 580.34 Koz average estimate based on three analysts.
- Revenues- Indonesia: $2.74 billion versus the three-analyst average estimate of $2.63 billion. The reported number represents a year-over-year change of +21.9%.
- Revenues- Molybdenum: $157 million versus $220.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
- Revenues- South America copper mines: $1.11 billion versus $1.10 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.4% change.
- Revenues- North America copper mines: $1.40 billion versus $1.32 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.9% change.
- Revenues- Rod & Refining: $1.35 billion versus the two-analyst average estimate of $1.47 billion. The reported number represents a year-over-year change of -0.7%.
- Revenues- Atlantic Copper Smelting & Refining: $606 million versus $659.67 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.3% change.
- Revenues- Corporate, other & eliminations: -$1.45 billion versus the two-analyst average estimate of -$1.68 billion. The reported number represents a year-over-year change of -4%.
View all Key Company Metrics for Freeport-McMoRan here>>>Shares of Freeport-McMoRan have returned -10.9% over the past month versus the Zacks S&P 500 composite's +2.4% 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.