| A Closer Look at Freeport-McMoRan’s 3Q15 Earnings | |
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A Closer Look at Freeport-McMoRan’s 3Q15 Earnings 3Q15 earnings call
Freeport-McMoRan (FCX) released its 3Q15 financial results on October 22. The company reported a loss of $3.8 billion that translates into a per-share loss of $3.58. However, the loss includes an impairment of oil and gas properties and goodwill to the tune of $3.7 billion. After adjusting for this charge, Freeport-McMoRan reported an adjusted loss per share of $0.15.
Earnings miss estimates
Freeport-McMoRan’s adjusted net loss came in higher than Wall Street estimates. The company has missed analyst EPS estimates in three out of the last five quarters, as you can see in the graph above. Freeport-McMoRan stock was volatile after the earnings release. The stock opened lower but subsequently gained more than 6.5% intraday. Finally, it closed with modest gains of 0.6%.
Companies in the commodity (DBC) space, including Glencore (GLNCY), have been on a downward spiral this year. Although stock prices have recovered somewhat in the last couple of weeks, they’re still much lower on a year-to-date basis.
Teck Resources (TCK) and Vale (VALE) also reported their 3Q15 financial results on October 22. Teck Resources posted a loss in the quarter on asset write-downs. Vale also posted a loss, of $2 billion, on lower iron ore prices.
Series overview
In this series, we’ll explore Freeport-McMoRan’s 3Q15 earnings in detail. We’ll also discuss what factors could drive Freeport’s earnings in the coming quarters. We’ll cover the key points from the company’s 3Q15 earnings conference call. Towards the end of this series, we’ll also do a valuation analysis. This should help you understand how Freeport-McMoRan could play out in the coming quarters.
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Freeport McMoRan Copper and Gold Inc.
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PRODUCTEUR |
CODE : FCX |
ISIN : US35671D8570 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Freeport McMoran est une société de production minière d'or et de cuivre basée aux Etats-Unis D'Amerique. Freeport McMoran est productrice d'or, de cuivre, d'argent, de cobalt et de molybdène au Chili, au Perou, en Indonesie et en Republique Democratique Du Congo, en développement de projets de cuivre au Perou, et détient divers projets d'exploration au Chili. Ses principaux projets en production sont CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI et MORENCI - ROM LEACH au Chili, GRASBERG, SIERRITA et BAGDAD en Indonesie, TENKE FUNGURUME et TYRONE en Republique Democratique Du Congo et CERRO VERDE au Perou, son principal projet en développement est SAFFORD au Perou et ses principaux projets en exploration sont BAGDAD - ROM LEACH et CHINO - ROM LEACH au Perou et CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH et CLIMAX au Chili. Freeport McMoran est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 69,9 milliards US$ (65,2 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 US$, et son plus haut niveau récent le 24 avril 2024 à 48,24 US$. Freeport McMoran possède 1 448 000 000 actions en circulation. |