Freeport-McMoRan C&G (FCX) Tops Q3 EPS by 17c

October 22, 2013 8:05 AM EDT
Freeport-McMoRan C&G (NYSE: FCX) reported Q3 EPS of $0.79, $0.17 better than the analyst estimate of $0.62. Revenue for the quarter came in at $6.17 billion versus the consensus estimate of $5.68 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, "Our third quarter results reflect strong operating performance from our global mining business together with an impressive and significant contribution from our recently acquired oil and gas operations. We advanced several important capital projects during the quarter which position us for significant future growth. We remain focused on solid execution of our plans to generate strong margins and cash flows which will enable us to invest prudently in financially attractive growth opportunities, execute on our commitment to achieve previously announced debt reduction targets and provide attractive cash returns to shareholders. Our portfolio of operating assets generates significant current cash flows, and our large resource position provides long-term growth opportunities to build meaningful values for shareholders."

For earnings history and earnings-related data on Freeport-McMoRan C&G (FCX) click here.

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