Freeport-McMoRan Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Freeport-McMoRan Inc. (FCX) reported earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $388 million, or $0.27 per share. This compares with $697 million, or $0.48 per share, in last year's fourth quarter.

Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $393 million or $0.27 per share for the period.

Analysts on average had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.6% to $5.91 billion from $5.76 billion last year.

Freeport-McMoRan Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $388 Mln. vs. $697 Mln. last year. -EPS (Q4): $0.27 vs. $0.48 last year. -Analyst Estimates: $0.22 -Revenue (Q4): $5.91 Bln vs. $5.76 Bln last year.