Freeport-Mcmoran Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 24, 2019 at 08:00 am EST
Share
Freeport-McMoRan Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced sales was USD 3,684 million compared to USD 5,041 million a year ago. Operating income was USD 316 million compared to USD 1,479 million a year ago. Net income was USD 140 million compared to USD 1,041 million a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to USD 0.7 a year ago. Diluted earnings per share was USD 0.09 compared to USD 0.71 a year ago. For the full year, sales was USD 18,628 million compared to USD 16,403 million a year ago. Operating income was USD 4,754 million compared to USD 3,690 million a year ago. Net income was USD 2,257 million compared to USD 1,817 million a year ago. Diluted earnings per share from continuing operations was USD 1.56 compared to USD 1.21 a year ago. Diluted earnings per share was USD 1.55 compared to USD 1.25 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%).