Freeport-McMoRan Full Year 2022 Earnings: EPS Beats Expectations

Freeport-McMoRan (NYSE:FCX) Full Year 2022 Results

Key Financial Results

• Revenue: US$22.8b (flat on FY 2021).

• Net income: US$3.47b (down 19% from FY 2021).

• Profit margin: 15% (down from 19% in FY 2021).

• EPS: US$2.39 (down from US$2.93 in FY 2021).

FCX Production and Reserves

Copper

• Production: 1.526 Mt (1.407 Mt in FY 2021)

• Number of mines: 10 (10 in FY 2021)

Gold

• Production: 1,474 troy koz (1,124 troy koz in FY 2021)

Molybdenum

• Production: 33,566 t (34,019 t in FY 2021)

earnings-and-revenue-growth

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

Freeport-McMoRan EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%.

Looking ahead, revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the US are expected to remain flat.

Performance of the American Metals and Mining industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Freeport-McMoRan's balance sheet health.

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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. Simply Wall St has no position in any stocks mentioned.

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