Freeport-Mcmoran Inc. Reports Earnings Results for the First Quarter Ended March 31, 2019
April 25, 2019 at 05:30 pm IST
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Freeport-McMoRan Inc. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced sales was USD 3,792 million compared to USD 4,868 million a year ago. Operating income was USD 321 million compared to USD 1,459 million a year ago. Net income was USD 31 million compared to USD 692 million a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to USD 0.48 a year ago. Diluted earnings per share was USD 0.02 compared to USD 0.47 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%).