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Will Freeport-McMoRan report a year-over-year increase in copper production in Q4 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Freeport-McMoRan's Q4 2024 production report
Story
Freeport-McMoRan Surpasses Q3 Profit Estimates with EPS $0.38, Revenue $6.79B on Higher Copper Prices
Oct 22, 2024, 12:29 PM
Freeport-McMoRan reported its third-quarter 2024 earnings, surpassing profit estimates due to higher copper prices. The company achieved an adjusted EPS of $0.38, matching projections, and reported revenue of $6.79 billion, up from $6.46 billion in the previous year. Net income attributable to common stock was $526 million, or $0.36 per share, while adjusted net income was $556 million, or $0.38 per share. Adjusted EBITDA for the quarter was $2.692 billion, up 22.5% year-over-year, and adjusted net leverage was 0.5x. Despite a 4.5% year-over-year decline in copper production to 1.05 billion pounds, Freeport-McMoRan's stock has seen a 41.4% increase over the last year. Analysts have given the company an outperform rating.
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Similar markets
Yes • 50%
No • 50%
Below 200,000 tons • 33%
Between 200,000 and 300,000 tons • 33%
Above 300,000 tons • 33%
Yes • 50%
No • 50%
Increase by more than 10% • 25%
Increase by 5-10% • 25%
Increase by less than 5% • 25%
No increase or decrease • 25%
