Freeport-McMoRan Prepares for Q1 Earnings Amid Market Challenges

Freeport-McMoRan Inc. (FCX), with a market cap of $41.9 billion, is a leading international metals company based in Phoenix, Arizona. The firm specializes in exploring and mining copper, gold, molybdenum, silver, and other metals.

Upcoming Earnings Announcement

The mining company is set to release its fiscal Q1 2025 earnings results on Tuesday, April 22. Analysts predict that Freeport-McMoRan will report a profit of $0.25 per share, representing a decline of 21.9% from the previous year’s $0.32 per share. Historically, FCX has outperformed Wall Street’s bottom-line estimates in three of the last four quarters but fell short once. In the fourth quarter of 2024, the company exceeded the consensus EPS estimate by a substantial 29.2%.

Financial Projections for Fiscal 2025

For fiscal 2025, forecasts indicate that FCX is expected to report EPS of $1.64, marking a 10.8% increase from $1.48 in fiscal 2024. Additionally, EPS is anticipated to grow further to $2.17 in fiscal 2026, a significant year-over-year growth of 32.3%.

Stock Performance Review

Over the past year, FCX shares have fallen by 40.7%, underperforming the S&P 500 Index’s modest decline of 1.4%. This performance also lags behind the Materials Select Sector SPDR Fund (XLB), which dropped 15.3% during the same period.

Quarterly Results Data

On January 23, Freeport-McMoRan disclosed its Q4 2024 results, which resulted in a 1.5% decline in its shares. The company’s revenue reached $5.7 billion, falling short of the anticipated $5.9 billion. However, profitability improved, with non-GAAP earnings climbing 14.8% year-over-year to $0.31, outpacing the consensus estimate of $0.24. For fiscal 2024, FCX reported an adjusted net income of $2.1 billion or $1.48 per share.

Analyst Ratings Overview

Currently, analysts hold a moderately optimistic consensus on FCX, with an overall “Moderate Buy” rating. Among the 17 analysts covering the stock, nine recommend a “Strong Buy,” two suggest a “Moderate Buy,” and six advise a “Hold.” At the time of writing, FCX is trading below its mean price target of $48.44.

On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are intended solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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