Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Income Statement 
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Freeport-McMoRan Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Revenues 6,790 6,624 6,321 5,905 5,824 5,737 5,389 5,758 5,003 5,416 6,603 6,164 6,083 5,748 4,850 4,495 3,851 3,054 2,798 3,911 3,153 3,546 3,792
Production and delivery (4,077) (3,875) (3,844) (3,360) (3,553) (3,549) (3,165) (3,508) (3,391) (3,021) (3,150) (3,155) (3,023) (3,067) (2,787) (2,631) (2,474) (2,255) (2,767) (3,009) (2,706) (3,002) (2,976)
Depreciation, depletion and amortization (600) (509) (595) (589) (533) (547) (399) (515) (508) (507) (489) (568) (528) (483) (419) (435) (394) (358) (341) (391) (322) (352) (347)
Cost of sales (4,677) (4,384) (4,439) (3,949) (4,086) (4,096) (3,564) (4,023) (3,899) (3,528) (3,639) (3,723) (3,551) (3,550) (3,206) (3,066) (2,868) (2,613) (3,108) (3,400) (3,028) (3,354) (3,323)
Gross profit (loss) 2,113 2,240 1,882 1,956 1,738 1,641 1,825 1,735 1,104 1,888 2,964 2,441 2,532 2,198 1,644 1,429 983 441 (310) 511 125 192 469
Selling, general and administrative expenses (117) (123) (144) (120) (118) (115) (126) (107) (98) (100) (115) (94) (102) (87) (100) (97) (72) (91) (110) (99) (106) (97) (112)
Exploration and research expenses (38) (40) (37) (34) (30) (42) (31) (28) (38) (25) (24) (19) (15) (14) (7) (8) (8) (18) (16) (21) (25) (31) (27)
Environmental obligations and shutdown costs (20) (28) (67) (80) (98) (74) (67) (70) (6) (29) (16) (40) (13) (33) (5) (101) (21) (11) (26) (20) (20) (23) (42)
Net gain (loss) on sales of assets 2 17 60 3 486 (2) (11) 404 (12) (8) 33
Operating income (loss) 1,938 2,049 1,634 1,722 1,492 1,410 1,601 1,530 962 1,736 2,809 2,305 2,462 2,067 1,532 1,709 880 321 (473) 775 (38) 33 321
Interest expense, net (72) (88) (89) (97) (96) (171) (151) (137) (140) (156) (127) (171) (138) (148) (145) (236) (120) (115) (127) (219) (123) (132) (146)
Net gain (loss) on early extinguishment of debt 5 5 3 20 8 (1) (59) (9) (32) (21) (6)
Other income (expense), net 97 69 129 103 71 24 88 140 25 11 31 (161) 36 9 11 (3) 22 20 20 (190) 33 5 14
Income (loss) from continuing operations before income taxes and equity in affiliated companies’ net earnings (losses) 1,963 2,030 1,674 1,728 1,472 1,268 1,538 1,536 867 1,599 2,713 1,973 2,360 1,928 1,398 1,469 723 217 (612) 366 (149) (94) 183
(Provision for) benefit from income taxes (737) (754) (512) (724) (508) (539) (499) (557) (315) (571) (824) (625) (628) (603) (443) (611) (297) (96) 60 (329) (91) 15 (105)
Equity in affiliated companies’ net earnings (losses) 10 4 3 2 10 (2) 8 10 15 10 (9) 6 (2) 6 3 3 5 5 5 (3)
Net income (loss) from continuing operations 1,236 1,280 1,162 1,007 964 731 1,049 977 560 1,038 1,904 1,358 1,723 1,331 953 858 432 124 (549) 42 (235) (74) 75
Net gain from discontinued operations 1 1 1
Net income (loss) 1,236 1,280 1,162 1,007 964 731 1,049 977 560 1,038 1,904 1,358 1,723 1,331 953 858 432 124 (549) 43 (234) (74) 76
Net (income) loss attributable to noncontrolling interests (710) (664) (689) (619) (510) (388) (386) (280) (156) (198) (377) (252) (324) (248) (235) (150) (103) (71) 58 (34) 27 2 (45)
Net income (loss) attributable to common stockholders 526 616 473 388 454 343 663 697 404 840 1,527 1,106 1,399 1,083 718 708 329 53 (491) 9 (207) (72) 31

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Freeport-McMoRan Inc. revenues increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Freeport-McMoRan Inc. operating income (loss) increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
Income (loss) from continuing operations before income taxes and equity in affiliated companies’ net earnings (losses) Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Freeport-McMoRan Inc. income (loss) from continuing operations before income taxes and equity in affiliated companies’ net earnings (losses) increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
Net income (loss) attributable to common stockholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Freeport-McMoRan Inc. net income (loss) attributable to common stockholders increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.