Freeport Q3 profit rises to $526 million; Indonesia smelter suspended after fire
Freeport reported third-quarter 2024 net income attributable to common stock of $526 million, or $0.36 per share, up from $454 million, or $0.31 per share, a year earlier, on revenues of $6.79 billion versus $5.82 billion. The company also disclosed that an October 14, 2024 fire at a gas cleaning facility damaged sulphuric acid production infrastructure, and smelter operations at its new Indonesia downstream processing facilities have been temporarily suspended pending remediation.
Key points
- Third-quarter revenues were $6.79 billion and operating income was $1.94 billion, compared with $5.82 billion and $1.49 billion in third-quarter 2023.
- Adjusted net income attributable to common stock was $556 million, or $0.38 per share, after excluding net charges of $30 million, or $0.02 per share.
- The October 14, 2024 fire at PT-FI's new smelter caused no injuries; the company will seek recovery of repair costs under its insurance programs.
- Full-year 2024 consolidated sales are expected to approximate 4.1 billion pounds of copper, 1.8 million ounces of gold and 80 million pounds of molybdenum.
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 October 22, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.