Freeport-McMoRan reported solid Q2 2024 results with net income of $616 million ($0.42 per share) on revenues of $6.62 billion. Adjusted net income was $667 million ($0.46 per share). Copper production reached 1.0 billion pounds, while gold production was 443,000 ounces.Sales volumes were impacted by temporary shipping delays in Indonesia, which have since been resolved. The new smelter in Indonesia has entered the commissioning phase, with full ramp-up expected by year-end. FCX maintains a positive outlook for 2024, projecting consolidated sales of 4.1 billion pounds of copper and 1.8 million ounces of gold.FCX ended Q2 with $5.3 billion in cash and a strong balance sheet. The company declared a $0.15 per share dividend and continued its share repurchase program. Management emphasized FCX's position as a leading responsible copper producer with multiple growth options amid favorable long-term copper market fundamentals.

Freeport-McMoRan reported solid Q2 2024 results with net income of $616 million ($0.42 per share) on revenues of $6.62 billion. Adjusted net income was $667 million ($0.46 per share). Copper production reached 1.0 billion pounds, while gold production was 443,000 ounces.Sales volumes were impacted by temporary shipping delays in Indonesia, which have since been resolved. The new smelter in Indonesia has entered the commissioning phase, with full ramp-up expected by year-end. FCX maintains a positive outlook for 2024, projecting consolidated sales of 4.1 billion pounds of copper and 1.8 million ounces of gold.FCX ended Q2 with $5.3 billion in cash and a strong balance sheet. The company declared a $0.15 per share dividend and continued its share repurchase program. Management emphasized FCX's position as a leading responsible copper producer with multiple growth options amid favorable long-term copper market fundamentals.