Freeport-McMoRan Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Freeport-McMoRan Inc. (FCX) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.11 billion, or $0.74 per share. This compares with $0.71 billion, or $0.48 per share, in last year's fourth quarter.

Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $1.42 billion or $0.96 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 36.9% to $6.16 billion from $4.50 billion last year.

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

-Earnings (Q4): $1.11 Bln. vs. $0.71 Bln. last year. -EPS (Q4): $0.74 vs. $0.48 last year. -Analyst Estimate: $0.92 -Revenue (Q4): $6.16 Bln vs. $4.50 Bln last year.