Freeport-McMoRan Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Freeport-McMoRan Inc. (FCX) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $473 million, or $0.32 per share. This compares with $663 million, or $0.46 per share, in last year's first quarter.

Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $474 million or $0.32 per share for the period.

Analysts on average had expected the company to earn $0.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.3% to $6.32 billion from $5.39 billion last year.

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

-Earnings (Q1): $473 Mln. vs. $663 Mln. last year. -EPS (Q1): $0.32 vs. $0.46 last year. -Revenue (Q1): $6.32 Bln vs. $5.39 Bln last year.