Freeport Copper Fourth Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component Freeport Copper (NYSE:FCX) will unveil its latest earnings on Tuesday, January 22, 2013. Freeport-McMoRan Copper & Gold is an international company that mines copper, gold and molybdenum.
Freeport Copper Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of 78 cents per share, a rise of 16.4% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 93 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 81 cents during the last month. Analysts are projecting profit to rise by 33.3% compared to last year’s $3.23.
Past Earnings Performance: The company is looking to top analyst estimates this quarter after trailing for the two previous quarters. Last quarter, it missed estimates by reporting net income of 68 cents per share against an estimate of profit of 74 cents per share. The quarter before that, it missed expectations by one cent.
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A Look Back: In the third quarter, profit fell 21.7% to $824 million (86 cents a share) from $1.05 billion ($1.10 a share) the year earlier, missing analyst expectations. Revenue fell 15% to $4.42 billion from $5.2 billion.