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In its upcoming report, Freeport-McMoRan (FCX) is predicted by Wall Street analysts to post quarterly earnings of $0.24 per share, reflecting a decline of 25% compared to the same period last year. Revenues are forecasted to be $5.31 billion, representing a year-over-year decrease of 16%.
The current level reflects an upward revision of 9.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Freeport-McMoRan metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenues- Indonesia' of $1.31 billion. The estimate indicates a change of -53.6% from the prior-year quarter.
Based on the collective assessment of analysts, 'Revenues- Molybdenum' should arrive at $261.94 million. The estimate indicates a year-over-year change of +80.7%.
The consensus among analysts is that 'Revenues- South America copper mines' will reach $1.29 billion. The estimate suggests a change of +13.9% year over year.
Analysts predict that the 'Revenues- North America copper mines' will reach $1.56 billion. The estimate indicates a year-over-year change of +3.9%.
The consensus estimate for 'Average realized price per pound - Copper' stands at $4.36. The estimate compares to the year-ago value of $3.94.
The combined assessment of analysts suggests that 'Production in millions of pounds - Molybdenum - South America (Cerro Verde)' will likely reach 5.82 Mlbs. Compared to the current estimate, the company reported 3 Mlbs in the same quarter of the previous year.
The average prediction of analysts places 'Production in millions of pounds - Molybdenum - By-product - North America' at 7.73 Mlbs. Compared to the current estimate, the company reported 7 Mlbs in the same quarter of the previous year.