Freeport-McMoRan Q4 Earnings Up

Freeport-McMoRan

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(RTTNews) - Freeport-McMoRan Inc. (FCX), a mining company, on Thursday reported its net income increased in the fourth quarter compared with the previous year.

For the fourth quarter, net income attributable to stockholders increased to $406 from $274 million in the prior year.

Earnings per share were $0.28 versus $0.19 last year.

Adjusted net income attributable to stockholders increased to $688 million from $450 million in the previous year.

Adjusted earnings per share were $0.47 versus $0.31 last year.

On average, eleven analysts had expected the company to report $0.32 per share. Analysts' estimates typically exclude special items.

Operating income decreased to $811 from $1.24 billion in the previous year.

Revenue declined to $5.63 billion from $5.72 billion in the prior year.

In the pre-market trading, Freeport-McMoRan is 1.67% lesser at $59.80 on the New York Stock Exchange.