Similar companies
Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 6.62B | 4.8% |
| Gross Profit | 2.24B | 19% |
| Cost of Revenue | 4.38B | 1.2% |
| Operating expense | 284M | 22.8% |
| Net Income | 616M | 30.2% |
| EBITDA | 2.56B | 20.3% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 54.6B | 0.8% |
| Total Liabilities | 25.9B | 0.6% |
| Total Equity | 17.4B | 2.5% |
| Shares Outstanding | 1.44B | 0.1% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 1.96B | 3.2% |
| Cash from investing | -1.11B | 13.2% |
| Cash from financing | -786M | 129.8% |
EPS
Financial Highlights for Freeport-McMoRan in Q2 '24
Freeport-McMoRan reported a revenue of 6.62B, which is a 4.8% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 2.24B, marking a 19% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 4.38B, a -1.2% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 284M, showing a -22.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 616M, showing a 30.2% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 2.56B, showing a 20.3% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Freeport-McMoRan with growth in revenue, gross profit, and net income.
