Freeport-Mcmoran Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
October 23, 2019 at 08:00 am EDT
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Freeport-McMoRan Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 3,308 million compared to USD 4,908 million a year ago. Operating income was USD 117 million compared to USD 1,315 million a year ago. Net loss was USD 131 million compared to net income of USD 556 million a year ago. Diluted loss per share was USD 0.09 compared to diluted earnings per share of USD 0.38 a year ago. For the nine months, sales was USD 10,646 million compared to USD 14,944 million a year ago. Operating income was USD 471 million compared to USD 4,438 million a year ago. Net loss was USD 172 million compared to net income of USD 2,117 million a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to diluted earnings per share from continuing operations of USD 1.46 a year ago. Diluted loss per share was USD 0.12 compared to diluted earnings per share of USD 1.45 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. 
