Freeport-Mcmoran Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
July 24, 2019 at 08:00 am EDT
Share
Freeport-McMoRan Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was USD 3,546 million compared to USD 5,168 million a year ago. Operating income was USD 33 million compared to USD 1,664 million a year ago. Net loss was USD 72 million compared to net income of USD 869 million a year ago. Diluted loss per share was USD 0.05 compared to diluted earnings per share of USD 0.59 a year ago. For the half year, sales was USD 7,338 million compared to USD 10,036 million a year ago. Operating income was USD 354 million compared to USD 3,123 million a year ago. Net loss was USD 41 million compared to net income of USD 1,561 million a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to diluted earnings per share from continuing operations of USD 1.08 a year ago. Diluted loss per share was USD 0.03 compared to diluted earnings per share of USD 1.07 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. 
