Freeport-McMoRan Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2020
October 22, 2020 at 08:09 am EDT
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Freeport-McMoRan Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2020. For the quarter, the company announced revenue of USD 3,851 million compared to USD 3,153 million a year ago. Operating income was USD 880 million compared to operating loss of USD 38 million a year ago. Net income was USD 432 million compared to net loss of USD 234 million a year ago. Diluted earnings per share was USD 0.22 compared to diluted loss per share of USD 0.15 a year ago.
For the nine months, revenue was USD 9,703 million compared to USD 10,491 million a year ago. Operating income was USD 728 million compared to operating income of USD 316 million a year ago. Net income was USD 7 million compared to net loss of USD 232 million a year ago. Diluted loss per share was USD 0.8 compared to USD 0.17 a year ago.
Freeport-McMoRan Inc. specializes in the exploration and operation of copper and gold mines located primarily in the United States, Peru, Chile, Indonesia and Congo. Net sales break down by family of products as follows:
- copper (74.6%): refined copper and copper concentrates (4.1 billion ounces sold in 2023);
- gold (14.5%): 1,713,000 ounces sold;
- molybdenum (8.4%): 1.3 billion ounces sold;
- other (2.5%).
Net sales are distributed geographically as follows: the United States (31.8%), Switzerland (17.4%), Japan (15%), Spain (5.5%), Singapore (5.1%), China (4.7%), Indonesia (3.3%), Germany (3.1%), Chile (1.9%), the United Kingdom (0.7%), and other (11.5%).
FREEPORT-MCMORAN INC. 
