Freeport-McMoRan Copper & Gold
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Freeport-McMoRan Copper & Gold beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share expanded.
Gross margins dropped, operating margins dropped, net margins increased.
Freeport-McMoRan Copper & Gold reported revenue of $4.51 billion. The 11 analysts polled by S&P Capital IQ hoped for revenue of $4.44 billion on the same basis. GAAP reported sales were 8.4% higher than the prior-year quarter's $4.16 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.74. The 19 earnings estimates compiled by S&P Capital IQ averaged $0.71 per share. GAAP EPS of $0.78 for Q4 were 15% higher than the prior-year quarter's $0.68 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 39.3%, 320 basis points worse than the prior-year quarter. Operating margin was 28.8%, 240 basis points worse than the prior-year quarter. Net margin was 16.5%, 110 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $5.49 billion. On the bottom line, the average EPS estimate is $1.06.
Next year's average estimate for revenue is $22.38 billion. The average EPS estimate is $4.58.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 5,790 members out of 5,983 rating the stock outperform, and 193 members rating it underperform. Among 1,236 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,196 give Freeport-McMoRan Copper & Gold a green thumbs-up, and 40 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 $41.70.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Freeport-McMoRan Copper & Gold. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.