Freeport-McMoRan reports Q1 adjusted EPS 57c, consensus 47c

Reports revenue $6.23B, consensus $5.96B. Kathleen Quirk, President and Chief Executive Officer, said, “Our first quarter financial results reflect the strength of our diversified portfolio with growth in revenues, cash flow and earnings, compared with last year’s first quarter, despite reduced capacity at our Indonesia operations. Freeport’s global team is focused on restoring operations at Grasberg safely and sustainably, driving new technologies and efficiency programs to increase the profitability of our Americas operations and pursing our highlyattractive portfolio of organic growth options to generate value for shareholders. Freeport is stronglypositioned as “America’s Copper Champion” and as a global leader in copper with large scale, geographically diverse operations and a pipeline of near-, medium- and long-term growth options to support a growing market.”