Freeport-McMoRan Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Freeport-McMoRan (NYSE:FCX [1]) Third Quarter 2024 Results

Key Financial Results

Revenue: US£6.79b (up 17% from 3Q 2023).
Net income: US£526.0m (up 17% from 3Q 2023).
Profit margin: 7.7% (in line with 3Q 2023).
EPS: US£0.36 (up from US£0.31 in 3Q 2023).

NYSE:FCX Earnings and Revenue Growth October 23rd 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Freeport-McMoRan Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) missed analyst estimates by 6.5%. Looking ahead, revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Metals and Mining industry in the US.

Performance of the American Metals and Mining industry.[2] The company’s shares are up 2.6% from a week ago.

Balance Sheet Analysis

While it’s very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We’ve done some analysis and you can see our take on Freeport-McMoRan’s balance sheet.[3]

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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.[5] This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation.

We aim to bring you long-term focused analysis driven by fundamental data.

Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

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References

^ NYSE:FCX (simplywall.st)
^ Performance of the American Metals and Mining industry. (simplywall.st)
^ you can see our take on Freeport-McMoRan’s balance sheet. (simplywall.st)
^ Explore Now for Free (simplywall.st)
^ Get in touch (investor-research.typeform.com)