Freeport Q2 net income rises to $616 million; Indonesia shipping delays cut gold sales
Freeport-McMoRan reported second-quarter 2024 net income attributable to common stock of $616 million, or $0.42 per share, up from $343 million, or $0.23 per share, a year earlier, on revenues of $6.6 billion. Copper and gold sales volumes fell year over year because of shipping delays in Indonesia, and the company now expects 2024 gold sales about 150 thousand ounces below its April guidance.
Key points
- Net income attributable to common stock was $616 million, or $0.42 per share, versus $343 million, or $0.23 per share, in second-quarter 2023; adjusted net income was $667 million, or $0.46 per share.
- Revenues were $6.624 billion versus $5.737 billion a year earlier, and operating income was $2.049 billion versus $1.410 billion.
- Second-quarter copper sales were 931 million pounds, 10% lower than a year earlier, and gold sales were 361 thousand ounces, 27% lower, due to shipping delays in Indonesia in June 2024.
- Full-year 2024 gold sales are expected to approximate 1.8 million ounces, about 150 thousand ounces lower than April 2024 guidance, due to mine sequencing changes at PT-FI.
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 23, 2024.
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