Freeport-McMoRan Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
January 26, 2022 at 08:18 am
Share
Freeport-McMoRan Inc. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was USD 6,164 million compared to USD 4,495 million a year ago. Net income was USD 1,106 million compared to USD 708 million a year ago. Diluted earnings per share from continuing operations was USD 0.74 compared to USD 0.48 a year ago.
For the full year, sales was USD 22,845 million compared to USD 14,198 million a year ago. Net income was USD 4,306 million compared to USD 599 million a year ago. Diluted earnings per share from continuing operations was USD 2.9 compared to USD 0.41 a year ago.
Freeport-McMoRan Inc. specializes in the exploration and operation of copper and gold mines located primarily in the United States, Peru, Chile, Indonesia and Congo. Net sales break down by family of products as follows:
- copper (74.6%): refined copper and copper concentrates (4.1 billion ounces sold in 2023);
- gold (14.5%): 1,713,000 ounces sold;
- molybdenum (8.4%): 1.3 billion ounces sold;
- other (2.5%).
Net sales are distributed geographically as follows: the United States (31.8%), Switzerland (17.4%), Japan (15%), Spain (5.5%), Singapore (5.1%), China (4.7%), Indonesia (3.3%), Germany (3.1%), Chile (1.9%), the United Kingdom (0.7%), and other (11.5%).