Freeport-McMoRan Copper & Gold (NYSE: FCX ) is expected to report Q2 earnings around July 18. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Freeport-McMoRan Copper & Gold's revenues will shrink -22.4% and EPS will contract -42.9%.
The average estimate for revenue is $4.51 billion. On the bottom line, the average EPS estimate is $0.84.
Last quarter, Freeport-McMoRan Copper & Gold booked revenue of $4.61 billion. GAAP reported sales were 19% lower than the prior-year quarter's $5.71 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, non-GAAP EPS came in at $0.96. GAAP EPS of $0.80 for Q1 were 49% lower than the prior-year quarter's $1.57 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 47.3%, 1,110 basis points worse than the prior-year quarter. Operating margin was 37.7%, 1,370 basis points worse than the prior-year quarter. Net margin was 16.6%, 970 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $19.33 billion. The average EPS estimate is $3.81.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 5,744 members out of 5,936 rating the stock outperform, and 193 members rating it underperform. Among 1,115 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,076 give Freeport-McMoRan Copper & Gold a green thumbs-up, and 39 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Freeport-McMoRan Copper & Gold is outperform, with an average price target of $52.85.
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