Freeport-McMoRan Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 21, 2022 at 01:56 pm
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Freeport-McMoRan Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 6,603 million compared to USD 4,850 million a year ago. Net income was USD 1,527 million compared to USD 718 million a year ago. Diluted earnings per share from continuing operations was USD 1.04 compared to USD 0.48 a year ago.
Freeport-McMoRan Inc. specializes in the exploration and operation of copper and gold mines located primarily in the United States, Peru, Chile, Indonesia and Congo. Net sales break down by family of products as follows:
- copper (74.6%): refined copper and copper concentrates (4.1 billion ounces sold in 2023);
- gold (14.5%): 1,713,000 ounces sold;
- molybdenum (8.4%): 1.3 billion ounces sold;
- other (2.5%).
Net sales are distributed geographically as follows: the United States (31.8%), Switzerland (17.4%), Japan (15%), Spain (5.5%), Singapore (5.1%), China (4.7%), Indonesia (3.3%), Germany (3.1%), Chile (1.9%), the United Kingdom (0.7%), and other (11.5%).