Freeport-McMoRan Copper & Gold (FCX) Misses Q1 EPS by 13c, Sales Light

April 18, 2013 8:02 AM EDT
Freeport-McMoRan Copper & Gold (NYSE: FCX) reported Q1 EPS of $0.68, $0.13 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $4.58 billion versus the consensus estimate of $4.76 billion.

James R. Moffett, Chairman of the Board, and Richard C. Adkerson, President and Chief Executive Officer, said, "Our first-quarter results reflect our focus on strong and safe production, aggressive cost management and advancing financially attractive projects to grow our copper production, increase cash flows and provide strong returns for shareholders. We also completed attractive financing transactions during the quarter, providing low-cost debt to fund the pending oil and gas acquisitions. We look forward to completing the transactions in the second quarter and to executing our strategy of developing long-term resources to generate long-term value for shareholders through expanded investment opportunities."

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

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