secwatch.observer — SEC 8-K summary
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Issuer:     FREEPORT-MCMORAN INC (FCX)
CIK:        0000831259
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000831259-24-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Freeport Q1 net inc $473M, copper sales beat; CEO Quirk succeeds Adkerson June 11
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- Net income $473M ($0.32 diluted); adjusted EPS also $0.32; revenue $6.32B, up 17% YoY.
- Copper sales 1.1B lbs (+33% YoY), exceeded Jan estimate; gold 568k oz, more than double YoY.
- Unit net cash cost $1.51/lb, down from $1.76; operating cash flow $1.9B.
- FY2024 copper sales guidance 4.15B lbs; Q2 estimate 1.0B lbs copper, 500k oz gold.
- CEO transition: Kathleen Quirk becomes CEO effective June 11; Adkerson remains Chairman.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/831259/000083125924000013/0000831259-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/831259/000083125924000013/fcx-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000831259-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer