Freeport-McMoRan Copper & Gold Beats Up on Analysts Yet Again
Freeport-McMoRan Copper & Gold (NYS: FCX) reported earnings on Jan. 19. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Freeport-McMoRan Copper & Gold beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly, and earnings per share contracted significantly.
Margins contracted across the board.
Freeport-McMoRan Copper & Gold logged revenue of $4.2 billion. The 11 analysts polled by S&P Capital IQ hoped for a top line of $3.8 billion. Sales were 26% lower than the prior-year quarter's $5.6 billion
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.72. The earnings estimates compiled by S&P Capital IQ forecast $0.64 per share on the same basis. GAAP EPS of $0.67 for Q4 were 59% lower than the prior-year quarter's $1.63 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 42.5%, 1,980 basis points worse than the prior-year quarter. Operating margin was 31.2%, 2,410 basis points worse than the prior-year quarter. Net margin was 15.4%, 1,220 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $4.6 billion. On the bottom line, the average EPS estimate is $0.96.
Next year's average estimate for revenue is $20.6 billion. The average EPS estimate is $4.58.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 5,682 members out of 5,880 rating the stock outperform, and 198 members rating it underperform. Among 1,439 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,398 give Freeport-McMoRan Copper & Gold a green thumbs-up, and 41 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 $52.30.
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At the time this article was published 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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