fcx2019banner.jpg
Freeport-McMoRan
Reports First-Quarter 2019 Results
 
 
 
Net income attributable to common stock totaled $31 million, $0.02 per share, in first-quarter 2019. After adjusting for net charges of $36 million, $0.03 per share, first-quarter 2019 adjusted net income attributable to common stock totaled $67 million, $0.05 per share.
Consolidated sales totaled 784 million pounds of copper, 242 thousand ounces of gold and 22 million pounds of molybdenum in first-quarter 2019.
Consolidated sales for the year 2019 are expected to approximate 3.3 billion pounds of copper, 0.8 million ounces of gold and 94 million pounds of molybdenum, including 800 million pounds of copper, 265 thousand ounces of gold and 25 million pounds of molybdenum in second-quarter 2019.
Average realized prices in first-quarter 2019 were $2.90 per pound for copper, $1,291 per ounce for gold and $12.69 per pound for molybdenum.
Average unit net cash costs in first-quarter 2019 were $1.78 per pound of copper and are expected to approximate $1.75 per pound of copper for the year 2019.
Operating cash flows totaled $534 million (net of $27 million in working capital uses and timing of other tax payments) in first-quarter 2019. Based on current sales volume and cost estimates, and assuming average prices of $3.00 per pound for copper, $1,300 per ounce for gold and $13.00 per pound for molybdenum for the remainder of 2019, operating cash flows are expected to approximate $2.3 billion for the year 2019.
Capital expenditures totaled $622 million in first-quarter 2019 (including approximately $370 million for major mining projects). Capital expenditures for the year 2019 are expected to approximate $2.5 billion, including $1.5 billion for major mining projects primarily associated with underground development activities in the Grasberg minerals district in Indonesia and development of the Lone Star copper leach project in Arizona.
In March 2019, FCX redeemed all of its outstanding $1 billion aggregate principal amount of senior notes due 2020.
At March 31, 2019, consolidated debt totaled $9.9 billion and consolidated cash totaled $2.8 billion. FCX had no borrowings and $3.5 billion available under its revolving credit facility at March 31, 2019.
On March 27, 2019, FCX declared a quarterly cash dividend of $0.05 per share on its common stock, which will be paid on May 1, 2019.

fcx2019blueline.jpg
Freeport-McMoRan
 
        1


The following information was filed by Freeportmcmoran Inc (FCX) on Thursday, April 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Freeportmcmoran Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Freeportmcmoran Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Log in with your credentials

or    

Forgot your details?

Create Account