- Freeport-McMoRan press release (NYSE:FCX): Q1 Non-GAAP EPS of $0.32 beats by $0.04.
- Revenue of $6.32B (+17.3% Y/Y) beats by $620M.
- ▪ Consolidated production totaled 1.1 billion pounds of copper, 549 thousand ounces of gold and 18 million pounds of molybdenum in first-quarter 2024.
- Consolidated sales totaled 1.1 billion pounds of copper, 568 thousand ounces of gold and 20 million pounds of molybdenum in first-quarter 2024.
- Consolidated sales are expected to approximate 4.15 billion pounds of copper, 2.0 million ounces of gold and 84 million pounds of molybdenum for the year 2024, including 1.0 billion pounds of copper, 500 thousand ounces of gold and 21 million pounds of molybdenum in second-quarter 2024.
- Average realized prices were $3.94 per pound for copper, $2,145 per ounce for gold and $20.38 per pound for molybdenum in first-quarter 2024.
- Average unit net cash costs were $1.51 per pound of copper in first-quarter 2024. Unit net cash costs are expected to average $1.57 per pound of copper for the year 2024.