Yahoo Finance Here's What Key Metrics Tell Us About Freeport-McMoRan (FCX) Q1 Earnings
Freeport-McMoRan (FCX) reported $5.39 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 18.4%. EPS of $0.52 for the same period compares to $1.07 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.45 billion, representing a surprise of -1.07%. The company delivered an EPS surprise of +10.64%, with the consensus EPS estimate being $0.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Freeport-McMoRan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production in thousands of Ounces - Gold - Indonesia: 402 Mlbs versus the 11-analyst average estimate of 381.36 Mlbs.
Sales in millions of pounds - Copper - Consolidated: 832 Mlbs versus 950.86 Mlbs estimated by 11 analysts on average.
Sales in thousands of ounces - Gold - Consolidated basis: 270 Koz versus the 11-analyst average estimate of 335.46 Koz.
Sales in millions of pounds - Molybdenum - Consolidated basis: 19 Mlbs versus the 11-analyst average estimate of 20.43 Mlbs.
Production in millions of pounds - Molybdenum - Consolidated: 21 Mlbs versus 19.79 Mlbs estimated by 10 analysts on average.
Revenues- Atlantic Copper Smelting & Refining: $756 million versus $663.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
Revenues- Indonesia: $1.37 billion versus $1.62 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -43.1% change.
Revenues- Corporate, other & eliminations: -$1.59 billion versus -$1.41 billion estimated by six analysts on average.
Revenues- South America copper mines: $1.44 billion versus $1.11 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
Revenues- North America copper mines: $1.67 billion versus the five-analyst average estimate of $1.46 billion. The reported number represents a year-over-year change of -14.4%.
Revenues- Rod & Refining: $1.53 billion versus $1.47 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -12.8% change.
Revenues- Molybdenum: $223 million versus the four-analyst average estimate of $237.51 million. The reported number represents a year-over-year change of +197.3%.
View all Key Company Metrics for Freeport-McMoRan here>>>
Shares of Freeport-McMoRan have returned +9.5% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
