secwatch.observer — SEC 8-K summary
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Issuer:     FREEPORT-MCMORAN INC (FCX)
CIK:        0000831259
Form:       8-K
Filed at:   2023-04-21T23:59:59+00:00
Accession:  0000831259-23-000016
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Freeport-McMoRan Q1 net income $663M ($0.46/share), down 57% YoY; weather-hit sales
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- Revenue $5.4B, down 18% from $6.6B YoY; operating income $1.6B vs $2.8B.
- Copper sales 832M lbs, down 19% YoY, missing Jan guidance of 900M lbs due to Feb weather disruption.
- Adjusted EPS $0.52 vs $0.46 reported; charges of $94M for environmental, tax, impairment items.
- Full-year 2023 copper sales guidance 4.1B lbs; Q2 expected 1.1B lbs as Grasberg recovers.
- Operating cash flow $1.05B; FY2023 expected ~$7.0B at assumed $4.00/lb copper.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/831259/000083125923000016/0000831259-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/831259/000083125923000016/fcx-20230421.htm
  HTML page:      https://secwatch.observer/filing/0000831259-23-000016

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