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Freeport-McMoRan (FCX) Down 6.4% Since Last Earnings Report: Can It Rebound?
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It has been about a month since the last earnings report for Freeport-McMoRan (FCX - Free Report) . Shares have lost about 6.4% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Freeport-McMoRan due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Freeport's Q2 Earnings Surpass Estimates on Higher Copper Prices
Freeport recorded net income of $772 million or 53 cents per share for second-quarter 2025, up around 25.3% from $616 million or 42 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 54 cents, topping the Zacks Consensus Estimate of 46 cents.
Revenues rose roughly 14.5% year over year to roughly $7.58 billion. The figure surpassed the Zacks Consensus Estimate of $7.12 billion. The company witnessed higher copper and gold prices in the reported quarter.
Operational Highlights
Copper production fell around 7.1% year over year to 963 million pounds in the reported quarter. The figure missed our estimate of 1,035 million pounds.
Consolidated sales increased approximately 9.1% year over year, reaching 1,016 million pounds of copper. The upside is primarily driven by shipment timing. The company sold 522,000 ounces of gold, up around 44.6% year over year. Freeport also sold 22 million pounds of molybdenum, up about 4.8%.
Consolidated average unit net cash costs per pound of copper were $1.13, down from $1.73 a year ago. The figure lagged our estimate of $1.50.
The average realized copper price was $4.54 per pound, up around 1.3% year over year. The figure beat our estimate of $4.20 per pound. The average realized price per ounce for gold rose around 43.1% year over year to $3,291. The figure topped our estimate of $3,024.
Financial Position
Cash and cash equivalents at the end of the quarter were $4.49 billion, down around 14.8% year over year. The company’s total debt was $9.25 billion, down 1.8%.
Cash flows provided by operations were around $2.19 billion in the reported quarter, up 12.2% year over year.
Guidance
For full-year 2025, consolidated sales volumes are projected to be around 3.95 billion pounds of copper, 1.3 million ounces of gold and 82 million pounds of molybdenum. This includes an estimated 1 billion pounds of copper, 350,000 ounces of gold and 18 million pounds of molybdenum expected to be sold in the third quarter.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a flat trend in estimates review.
The consensus estimate has shifted -14.85% due to these changes.
VGM Scores
Currently, Freeport-McMoRan has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Freeport-McMoRan has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Freeport-McMoRan (FCX) Down 6.4% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for Freeport-McMoRan (FCX - Free Report) . Shares have lost about 6.4% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Freeport-McMoRan due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Freeport's Q2 Earnings Surpass Estimates on Higher Copper Prices
Freeport recorded net income of $772 million or 53 cents per share for second-quarter 2025, up around 25.3% from $616 million or 42 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 54 cents, topping the Zacks Consensus Estimate of 46 cents.
Revenues rose roughly 14.5% year over year to roughly $7.58 billion. The figure surpassed the Zacks Consensus Estimate of $7.12 billion. The company witnessed higher copper and gold prices in the reported quarter.
Operational Highlights
Copper production fell around 7.1% year over year to 963 million pounds in the reported quarter. The figure missed our estimate of 1,035 million pounds.
Consolidated sales increased approximately 9.1% year over year, reaching 1,016 million pounds of copper. The upside is primarily driven by shipment timing. The company sold 522,000 ounces of gold, up around 44.6% year over year. Freeport also sold 22 million pounds of molybdenum, up about 4.8%.
Consolidated average unit net cash costs per pound of copper were $1.13, down from $1.73 a year ago. The figure lagged our estimate of $1.50.
The average realized copper price was $4.54 per pound, up around 1.3% year over year. The figure beat our estimate of $4.20 per pound. The average realized price per ounce for gold rose around 43.1% year over year to $3,291. The figure topped our estimate of $3,024.
Financial Position
Cash and cash equivalents at the end of the quarter were $4.49 billion, down around 14.8% year over year. The company’s total debt was $9.25 billion, down 1.8%.
Cash flows provided by operations were around $2.19 billion in the reported quarter, up 12.2% year over year.
Guidance
For full-year 2025, consolidated sales volumes are projected to be around 3.95 billion pounds of copper, 1.3 million ounces of gold and 82 million pounds of molybdenum. This includes an estimated 1 billion pounds of copper, 350,000 ounces of gold and 18 million pounds of molybdenum expected to be sold in the third quarter.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a flat trend in estimates review.
The consensus estimate has shifted -14.85% due to these changes.
VGM Scores
Currently, Freeport-McMoRan has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Freeport-McMoRan has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.