S&P 500 (NYSE:SPY) component Freeport-McMoRan Copper & Gold, Inc. (NYSE:FCX) will unveil its latest earnings on Thursday, April 19, 2012. Freeport-McMoRan Copper & Gold is an international company that mines copper, gold and molybdenum.
Freeport-McMoRan Copper & Gold, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for net income of 85 cents per share, a decline of 45.9% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 92 cents. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. Analysts are projecting profit to rise by 14.7% compared to last year’s $4.13.
Last quarter, the company came in at profit of 67 cents per share against a mean estimate of net income of 64 cents per share, beating estimates after missing them in the previous quarter. In the third quarter of the last fiscal year, it missed forecasts by 2 cents.
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Wall St. Revenue Expectations: Analysts are projecting a decline of 20.5% in revenue from the year-earlier quarter to $4.54 billion.
Analyst Ratings: Analysts are optimistic about this stock, with 16 analysts rating it as a buy, none rating it as a sell and none rating it as a hold.
A Look Back: In the fourth quarter of the last fiscal year, profit fell 58.7% to $640 million (68 cents a share) from $1.55 billion (-66 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 25.7% to $4.16 billion from $5.6 billion.
On the top line, the company is looking to get back on the right track after last quarter’s drop snapped a string of revenue increases. Revenue rose 30.9% in the first quarter of the last fiscal year, 50.5% in the second quarter of the last fiscal year and 0.8%in the third quarter of the last fiscal year before dropping in the fourth quarter of the last fiscal year.
An income boost this time around would be welcome news after profit declines in the past two quarters. Net income dropped 10.6% in the third quarter of the last fiscal year and then again in the fourth quarter of the last fiscal year.
Stock Price Performance: Between January 18, 2012 and April 13, 2012, the stock price fell $7.15 (-16.2%), from $44.09 to $36.94. The stock price saw one of its best stretches over the last year between August 22, 2011 and August 31, 2011, when shares rose for eight straight days, increasing 13.2% (+$5.39) over that span. It saw one of its worst periods between April 2, 2012 and April 11, 2012 when shares fell for seven straight days, dropping 7.7% (-$3) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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