Freeport-McMoRan Inc. (FCX) reported a decline in its fourth-quarter profits compared to the previous year, falling short of Wall Street forecasts. The company's net income was $274 million, or $0.19 per share, a decrease from $388 million, or $0.27 per share, recorded at the same time last year. Analysts had predicted earnings of $0.22 per share, though these projections generally do not account for special items. Meanwhile, the company's revenue for the quarter decreased by 3.1%, amounting to $5.720 billion, down from $5.905 billion in the previous year.
A summary of Freeport-McMoRan Inc.’s earnings based on generally accepted accounting principles (GAAP):
- Net Income: $274 million, compared to $388 million last year.
- Earnings per Share (EPS): $0.19, versus $0.27 last year.
- Revenue: $5.720 billion, compared to $5.905 billion last year.
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