Freeport-McMoRan reports Q2 EPS 53c, consensus 45c

Reports Q2 revenue $7.58B, consensus $7.19B. Kathleen Quirk, president and CEO, said, “As a leading copper producer, our role is increasingly important in providing essential metals to a growing market. Our global team is committed to producing and growing our production safely, efficiently and responsibly, and we are challenging ourselves to improve efficiencies and leverage new technologies to drive better performance and grow production more quickly with lower capital intensity. We achieved a major milestone during the second quarter with the startup of our new large-scale copper smelter in Indonesia. We are well positioned for the future, both domestically, as America’s copper champion, and internationally, with large-scale production of copper, gold and molybdenum, a highly qualified and experienced team, a portfolio of attractive organic growth opportunities and a strong balance sheet and financial position.”