自由港麥克莫蘭公司（NYSE:FCX）在公佈2024財年第四季度業績後，股價下跌。收入爲57.2億美元，低於市場預期的59.9億美元。銅銷售總量爲10億磅，略高於2024年10月的預估，但由於礦石品位下降和PT-FI的出貨時間，銅銷量同比下降。銅的平均實現價格每磅爲4.15美元，第四季度產量爲10.41億磅。黃金銷售量爲35萬盎司，略高於2024年10月預估，但較去年下降。該季度平均實現價格爲每盎司2,628美元。營業收入爲12.43億美元，低於去年的17.22億美元。調整後每股收益爲0.31美元，高於市場預期的0.22美元。季度經營現金流總計14.4億美元，而去年同期爲13.2億美元。截止到12月31日，自由港麥克莫蘭持有39億美元現金及現金等價物，總債務爲89億美元。董事會主席理查德·阿德克森和總裁、首席執行官凱瑟琳·奎克表示：“我們帶着明確的目標進入2025年，繼續強力執行經營計劃，加強生產率，管理成本和資本，並推動長期有利可圖的增長和價值創造的機會。”2025年展望：自由港麥克莫蘭預計銷售量爲40億磅銅、160萬盎司黃金和8800萬磅鉬。公司預計2025年經營現金流爲約62億美元。在電話會議中，奎克表示預計2025年美國銅產量將增長8%，2026年和2027年將進一步增加。公司旨在將2024年作爲其美國銅業務的“低谷年”。奎克補充說，她看到電氣化驅動的全球銅需求持續增長，預計近期內全球銅市場平衡，但警告稱長期將出現“顯著赤字”。投資者可以通過Sprott Copper Miners ETF（NASDAQ:COPP）和Themes Copper Miners ETF（BATS:COPA）獲得該股的投資機會。價格走勢：星期四最後一次檢查時，FCX 股票下跌5.32%，至37.01美元。

以上內容來自Benzinga Earnings專欄，原文如下：

Freeport-McMoRan Inc. (NYSE:FCX) shares are trading lower after the company reported fourth-quarter FY24 results.

Revenue stood at $5.72 billion, missing the consensus of $5.99 billion.

Copper sales totaled 1.0 billion pounds, which was slightly above the October 2024 estimate. Copper sales declined year-over-year owing to lower ore grades and the timing of shipments at PT-FI.

Copper average realized price per pound was $4.15, and production totaled 1.041 billion pounds in the fourth quarter of FY24.

Gold sales stood at 350 thousand ounces, slightly higher than the October 2024 estimate, but declined from last year. The average realized price per ounce stood at $2,628 in the quarter. 

Operating income stood at $1.243 billion versus $1.722 billion a year ago. Adjusted EPS was $0.31, beating the consensus of $0.22.

Operating cash flow for the quarter totaled $1.44 billion, compared to $1.32 billion a year ago.

As of December 31, Freeport-McMoRan had $3.9 billion in cash and equivalents, and its consolidated debt totaled $8.9 billion.

Richard Adkerson, chairman of the board, and Kathleen Quirk, president, and chief executive officer, said, “We enter 2025 with a clear focus on continued strong execution of our operating plans, enhancing productivity, managing costs and capital, and advancing opportunities for long-term profitable growth and value creation.”

Read: What’s Going On With Freeport-McMoRan (FCX) Stock Ahead Of Q4 Earnings Report?

2025 Outlook: Freeport-McMoRan expects sales volumes to be 4.0 billion pounds of copper, 1.6 million ounces of gold, and 88 million pounds of molybdenum. 

The company expects operating cash flows of ~$6.2 billion in 2025.

In the conference call, Quirk stated expecting U.S. copper production to rise 8% in 2025, with further increases in 2026 and 2027.

The company aims to make 2024 the “low watermark year” for its U.S. copper business.

Quirk added that she sees continued global copper demand growth driven by electrification and expects a balanced global copper market in the near term but warns of a “significant deficit” in the long run.

Investors can gain exposure to the stock via Sprott Copper Miners ETF (NASDAQ:COPP) and Themes ETF Trust Themes Copper Miners ETF (BATS:COPA).

Price Action: FCX shares are down 5.32% at $37.01 at the last check Thursday.

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