Stock Analysis
- United States
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- Metals and Mining
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- NYSE:FCX
Freeport-McMoRan First Quarter 2024 Earnings: Beats Expectations
Freeport-McMoRan (NYSE:FCX) First Quarter 2024 Results
Key Financial Results
- Revenue: US$6.32b (up 17% from 1Q 2023).
- Net income: US$473.0m (down 29% from 1Q 2023).
- Profit margin: 7.5% (down from 12% in 1Q 2023). The decrease in margin was driven by higher expenses.
- EPS: US$0.33 (down from US$0.46 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Freeport-McMoRan Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 16%.
Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the US.
Performance of the American Metals and Mining industry.
The company's shares are up 1.8% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Freeport-McMoRan has 1 warning sign we think you should be aware of.
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Find out whether Freeport-McMoRan is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.
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About NYSE:FCX
Freeport-McMoRan
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia.
Excellent balance sheet and slightly overvalued.