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Mar 31, 2025
Freeport-McMoRan Q1 2025 Earnings Report
Freeport-McMoRan reported a decline in earnings and revenue in Q1 2025 compared to the same quarter last year.
Key Takeaways
Freeport-McMoRan saw lower copper and gold sales volumes due to maintenance projects in Indonesia, but managed to beat guidance on copper sales. Net income dropped YoY, and the company continues to focus on cost control and growth initiatives.
Copper sales exceeded January guidance despite Indonesian maintenance
Gold sales were impacted by shipment timing and ore grades
Net income declined to $352 million from $473 million YoY
New Indonesian smelter is expected to ramp up by mid-2025
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
FCX expects higher copper and gold sales volumes for the remainder of 2025, driven by increased output from Indonesia and efficiency gains.
Positive Outlook
- Copper sales for the year projected at 4.0B pounds
- Gold sales forecasted to reach 1.6M ounces
- Smelter ramp-up in Indonesia remains on schedule
- Unit net cash costs expected to drop to $1.50/lb for copper
- Strong pricing for U.S.-based copper sales provides margin uplift
Challenges Ahead
- Gold sales impacted by shipment timing in Q1
- Higher cash costs from reduced volumes in Q1
- Potential tariff impacts on U.S. procurement costs
- Export regulation uncertainty in Indonesia
- Net income declined year-over-year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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