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Countdown to Freeport-McMoRan (FCX) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
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Analysts on Wall Street project that Freeport-McMoRan (FCX - Free Report) will announce quarterly earnings of $0.78 per share in its forthcoming report, representing an increase of 56% year over year. Revenues are projected to reach $7.09 billion, increasing 1.6% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 6.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Freeport-McMoRan metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Revenues- South America Operations' to reach $1.77 billion. The estimate indicates a year-over-year change of +25.4%.
Analysts predict that the 'Revenues- Indonesia Operations' will reach $1.41 billion. The estimate points to a change of -47.4% from the year-ago quarter.
Analysts' assessment points toward 'Revenues- Molybdenum Mines' reaching $370.95 million. The estimate suggests a change of +109.6% year over year.
Analysts expect 'Revenues- U.S. Copper Mines' to come in at $2.35 billion. The estimate points to a change of +21.1% from the year-ago quarter.
It is projected by analysts that the 'Sales - Gold (thousands of recoverable ounces) - Consolidated' will reach 101 thousands of ounces. The estimate compares to the year-ago value of 336 thousands of ounces.
The consensus estimate for 'Production - Molybdenum (millions of recoverable pounds) - U.S. copper mines' stands at 9 millions of pounds. The estimate is in contrast to the year-ago figure of 8 millions of pounds.
The combined assessment of analysts suggests that 'Sales - Copper (millions of recoverable pounds) - Consolidated' will likely reach 749 millions of pounds. Compared to the present estimate, the company reported 977 millions of pounds in the same quarter last year.
The consensus among analysts is that 'Sales - Copper (millions of recoverable pounds) - Indonesia - Grasberg minerals district' will reach 162 millions of pounds. The estimate compares to the year-ago value of 360 millions of pounds.
The average prediction of analysts places 'Sales - Copper (millions of recoverable pounds) - Total South America' at 254 millions of pounds. Compared to the current estimate, the company reported 278 millions of pounds in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Sales - Copper (millions of recoverable pounds) - Total U.S.' of 332 millions of pounds. Compared to the current estimate, the company reported 339 millions of pounds in the same quarter of the previous year.
According to the collective judgment of analysts, 'Sales - Molybdenum (millions of recoverable pounds) - Consolidated' should come in at 22 millions of pounds. The estimate compares to the year-ago value of 19 millions of pounds.
Based on the collective assessment of analysts, 'Average realized price per pound - Molybdenum' should arrive at $31.19 . The estimate compares to the year-ago value of $24.07 .
Freeport-McMoRan shares have witnessed a change of -5.1% in the past month, in contrast to the Zacks S&P 500 composite's no move. With a Zacks Rank #2 (Buy), FCX is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
View the Zacks #1 Rank List
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Countdown to Freeport-McMoRan (FCX) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
Analysts on Wall Street project that Freeport-McMoRan (FCX - Free Report) will announce quarterly earnings of $0.78 per share in its forthcoming report, representing an increase of 56% year over year. Revenues are projected to reach $7.09 billion, increasing 1.6% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 6.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Freeport-McMoRan metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Revenues- South America Operations' to reach $1.77 billion. The estimate indicates a year-over-year change of +25.4%.
Analysts predict that the 'Revenues- Indonesia Operations' will reach $1.41 billion. The estimate points to a change of -47.4% from the year-ago quarter.
Analysts' assessment points toward 'Revenues- Molybdenum Mines' reaching $370.95 million. The estimate suggests a change of +109.6% year over year.
Analysts expect 'Revenues- U.S. Copper Mines' to come in at $2.35 billion. The estimate points to a change of +21.1% from the year-ago quarter.
It is projected by analysts that the 'Sales - Gold (thousands of recoverable ounces) - Consolidated' will reach 101 thousands of ounces. The estimate compares to the year-ago value of 336 thousands of ounces.
The consensus estimate for 'Production - Molybdenum (millions of recoverable pounds) - U.S. copper mines' stands at 9 millions of pounds. The estimate is in contrast to the year-ago figure of 8 millions of pounds.
The combined assessment of analysts suggests that 'Sales - Copper (millions of recoverable pounds) - Consolidated' will likely reach 749 millions of pounds. Compared to the present estimate, the company reported 977 millions of pounds in the same quarter last year.
The consensus among analysts is that 'Sales - Copper (millions of recoverable pounds) - Indonesia - Grasberg minerals district' will reach 162 millions of pounds. The estimate compares to the year-ago value of 360 millions of pounds.
The average prediction of analysts places 'Sales - Copper (millions of recoverable pounds) - Total South America' at 254 millions of pounds. Compared to the current estimate, the company reported 278 millions of pounds in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Sales - Copper (millions of recoverable pounds) - Total U.S.' of 332 millions of pounds. Compared to the current estimate, the company reported 339 millions of pounds in the same quarter of the previous year.
According to the collective judgment of analysts, 'Sales - Molybdenum (millions of recoverable pounds) - Consolidated' should come in at 22 millions of pounds. The estimate compares to the year-ago value of 19 millions of pounds.
Based on the collective assessment of analysts, 'Average realized price per pound - Molybdenum' should arrive at $31.19 . The estimate compares to the year-ago value of $24.07 .
View all Key Company Metrics for Freeport-McMoRan here>>>Freeport-McMoRan shares have witnessed a change of -5.1% in the past month, in contrast to the Zacks S&P 500 composite's no move. With a Zacks Rank #2 (Buy), FCX is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .