Freeport-McMoRan, Inc. ( (FCX) ) has released its Q4 earnings. Here is a breakdown of the information Freeport-McMoRan, Inc. presented to its investors.
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Freeport-McMoRan, Inc. (FCX) is a major international mining company based in Phoenix, Arizona, known for its large-scale copper, gold, and molybdenum mining operations, including notable assets at the Grasberg minerals district in Indonesia and the Morenci minerals district in Arizona.
In its latest earnings report, Freeport-McMoRan highlighted a strong operating performance for the fourth-quarter and full-year 2024, with sales volumes of copper and gold exceeding guidance. The company also announced progress on its Indonesia Precious Metals Refinery and is on track to start its new smelter by mid-2025, while maintaining a robust financial position supported by favorable market fundamentals.
Key financial highlights from the report include a fourth-quarter net income of $274 million, or $0.19 per share, with an adjusted net income of $450 million, or $0.31 per share. The company achieved consolidated production of 1.04 billion pounds of copper and 432 thousand ounces of gold in the fourth quarter. Looking ahead, Freeport-McMoRan projects consolidated sales of 4.0 billion pounds of copper for 2025. The company also maintained a strong liquidity position with $3.9 billion in cash and cash equivalents.
Freeport-McMoRan continues to advance its growth strategy with significant capital investments in mining projects and downstream processing facilities. The company’s management remains focused on enhancing productivity and managing costs, while exploring opportunities for long-term growth and value creation.
Going forward, Freeport-McMoRan is well-positioned as a leader in the copper industry, with a clear strategy for continued operational excellence and growth in its high-quality asset portfolio, as emphasized by company executives in their forward-looking statements.
