Freeport-McMoran (FCX) Misses Q4 EPS by 10c

Freeport-McMoran (NYSE: FCX) reported Q4 EPS of $0.25, ex-items, $0.10 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $5.24 billion versus the consensus estimate of $4.93 billion.

James R. Moffett, Chairman of the Board; Richard C. Adkerson, Vice Chairman, and FCX President and Chief Executive Officer; and James C. Flores, Vice Chairman, and FM O&G President and Chief Executive Officer, said, "During 2014, our organization achieved strong operating performance and project development milestones despite challenging commodity market conditions, which emerged late in the year. As we enter 2015, we are implementing a series of initiatives to reduce capital and operating costs to maintain financial strength during a period of weaker commodity prices while preserving a strong resource position and a portfolio of assets with attractive long-term growth prospects. With our high quality portfolio of large scale assets, exposure to markets with favorable long-term fundamentals, and track record for effective management of our operations and balance sheet, we are confident in our ability to generate value for shareholders.”

For earnings history and earnings-related data on Freeport-McMoran (FCX) click here.

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