Freeport-McMoRan's Q2 2025 Earnings: What to Expect
Phoenix, Arizona-based Freeport-McMoRan Inc. (FCX) is engaged in mineral exploration and development, mining and milling of copper, gold, molybdenum, and silver in North America and internationally. With a market cap of $63 billion, the company's operations span the Americas and Asia.
The mineral explorer is set to unveil its second-quarter results on Tuesday, Jul. 22. Ahead of the event, analysts expect FCX to report non-GAAP earnings of $0.46 per share, flat year-over-year from the same profit of $0.46 per share reported in the year-ago quarter. Furthermore, the company has surpassed or matched the Street’s bottom-line projections in three of the past four quarters, while missing on one other occasion.
For the full fiscal 2025, its earnings are expected to come in at $1.69 per share, up 14.2% from $1.48 per share reported in the year-ago quarter. While in fiscal 2026, its earnings are expected to rise 30.8% year-over-year to $2.21 per share.
FCX stock has declined 10.8% over the past 52 weeks, underperforming the Materials Select Sector SPDR Fund’s (XLB) marginal decline and the S&P 500 Index’s ($SPX) 13.6% uptick during the same time frame.
FCX stock grew 6.9% following the release of its mixed Q1 earnings on Apr. 24. The company’s revenues decreased 9.4% year-over-year to $5.7 billion but surpassed the Street’s expectations. Its total copper production decreased 20% from the prior year’s quarter to 868 million pounds, but came on top of January 2025 guidance. Its operating income also decreased 20.3% from its year-ago value to $1.3 billion. FCX’s adjusted net income decreased 24.5% year-over-year to $358 million, and its adjusted EPS fell 25% from the prior year’s quarter to $0.24, but successfully matched the consensus estimates.
The consensus opinion on FCX is moderately optimistic, with a “Moderate Buy” rating overall. Of the 17 analysts covering the stock, opinions include 10 “Strong Buys,” three “Moderate Buys,” and four “Holds.” Its mean price target of $47.41 suggests a 9.4% upside potential from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.