Freeport's (FCX) Earnings And Sales Beat Estimates In Q4
Zacks Investment Research | Jan 23, 2020 06:08AM ET
Freeport-McMoRan Inc. (NYSE:FCX) reported net income (attributable to common stock) of $9 million or less than a penny per share in fourth-quarter 2019, down from $485 million or 33 cents in the year-ago quarter.
Barring one-time items, adjusted earnings came in at 2 cents per share, which beat the Zacks Consensus Estimate of 1 cent.
Revenues rose 6.2% year over year to $3,911 million. The figure also surpassed the Zacks Consensus Estimate of $3,790.8 million.
2019 Highlights
For 2019, the company reported net loss (attributable to common stock) of $239 million or 17 cents per share against net income of $2,602 million or $1.78 in the year-ago quarter.
Total revenues declined 22.7% year over year to $14,402 million.
Freeport-McMoRan Inc. Price, Consensus and EPS Surprise
industry ’s 20.5% rise.
Zacks Rank & Key Picks
Freeport currently carries a Zacks Rank #3 (Hold).
Few better-ranked stocks in the basic materials space are Daqo New Energy Corp. (NYSE:DQ) , Royal Gold, Inc. (NASDAQ:RGLD) and Bunge Ltd. (NYSE:BG) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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