Freeport-McMoRan: Q4 Earnings Snapshot

Audio By Carbonatix

PHOENIX (AP) — PHOENIX (AP) — Freeport-McMoRan Inc. (FCX) on Thursday reported fourth-quarter earnings of $274 million.

The Phoenix-based company said it had net income of 19 cents per share. Earnings, adjusted for non-recurring costs, came to 31 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The mining company posted revenue of $5.72 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $5.92 billion.

For the year, the company reported profit of $1.89 billion, or $1.30 per share. Revenue was reported as $25.46 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCX at https://www.zacks.com/ap/FCX