Freeport-McMoRan Copper & Gold Beats on Both Top and Bottom Lines

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Freeport-McMoRan Copper & Gold (NYS: FCX) reported earnings on Jan. 22. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Freeport-McMoRan Copper & Gold beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew and GAAP earnings per share expanded.


Gross margins dropped, operating margins dropped, net margins increased.

Revenue details
Freeport-McMoRan Copper & Gold reported revenue of $4.51 billion. The 11 analysts polled by S&P Capital IQ hoped for revenue of $4.44 billion on the same basis. GAAP reported sales were 8.4% higher than the prior-year quarter's $4.16 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.74. The 19 earnings estimates compiled by S&P Capital IQ averaged $0.71 per share. GAAP EPS of $0.78 for Q4 were 15% higher than the prior-year quarter's $0.68 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 39.3%, 320 basis points worse than the prior-year quarter. Operating margin was 28.8%, 240 basis points worse than the prior-year quarter. Net margin was 16.5%, 110 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $5.49 billion. On the bottom line, the average EPS estimate is $1.06.

Next year's average estimate for revenue is $22.38 billion. The average EPS estimate is $4.58.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 5,790 members out of 5,983 rating the stock outperform, and 193 members rating it underperform. Among 1,236 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,196 give Freeport-McMoRan Copper & Gold a green thumbs-up, and 40 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Freeport-McMoRan Copper & Gold is outperform, with an average price target of $41.70.

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The article Freeport-McMoRan Copper & Gold Beats on Both Top and Bottom Lines originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Freeport-McMoRan Copper & Gold. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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