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 totaled $0.70 billion, or $0.48 per share. This compares with $1.11 billion, or $0.74 per share, in last year's fourth quarter.

Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $0.75 billion or $0.52 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.5% to $5.76 billion from $6.16 billion last year.

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

-Earnings (Q4): $0.70 Bln. vs. $1.11 Bln. last year. -EPS (Q4): $0.48 vs. $0.74 last year. -Analyst Estimates: $0.43 -Revenue (Q4): $5.76 Bln vs. $6.16 Bln last year.