Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Paying user area
Try for free
Freeport-McMoRan Inc. pages available for free this week:
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Freeport-McMoRan Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Freeport-McMoRan Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenue Trends
- Revenues exhibited general growth from early 2020 through early 2024, reaching a peak of 6,790 million USD in September 2024, followed by a notable decline to 5,720 million USD by March 2025. The increase reflects significant expansion over most periods, although the decline in late 2024 and early 2025 suggests potential market or operational challenges.
- Cost of Sales and Associated Expenses
- Production and delivery costs largely increased in line with revenues, peaking near 4,077 million USD by September 2024, then declining as revenues did in early 2025. Depreciation, depletion, and amortization showed a consistently rising trend with some fluctuations, with peaks and valleys but generally increased from 341 million USD in March 2020 to around 600 million USD in late 2024 before falling. Overall cost of sales mirrored these patterns, increasing steadily to highest points before receding slightly at the end of the series.
- Profitability Analysis
- Gross profit improved substantially from a loss of 310 million USD in March 2020 to consistent positive values, peaking around the 2,964 million USD mark in March 2022. Despite fluctuations, the profitability trend remained positive, with some periods of reduced gains correlating with revenue dips in late 2022. Operating income followed a similar trajectory, turning positive in mid-2020 and reaching a peak over 2,800 million USD in early 2022 before decreasing by early 2025.
- Operating Expenses and Additional Costs
- Selling, general and administrative expenses remained somewhat stable with mild increases over the period, indicating controlled overhead costs relative to changes in revenues and profits. Exploration and research expenses fluctuated moderately, generally increasing over time, pointing to ongoing investment in development activities. Environmental obligations and shutdown costs were volatile with occasional spikes, notably a substantial increase at the end of 2020 and recurring higher values thereafter, reflecting episodic environmental or operational events.
- Non-Operating Items
- Net gains or losses on sales of assets appeared irregular, with a significant one-time gain recorded in December 2020 (486 million USD), followed by intermittent gains and losses, impacting income variability. Interest expense decreased over time, dropping from 127 million USD in early 2020 to around 70 million USD by early 2025, which may have contributed positively to net income margins. Other income or expense showed volatility, including pronounced negative values in late 2021, but generally remained a modest positive contributor.
- Income Taxes and Net Income
- A consistent pattern of tax provisions was observed, with significant tax expenses reducing net income gains across all periods. Despite these charges, net income attributable to common stockholders increased substantially from negative values in early 2020 to positive peaks exceeding 1,500 million USD in early 2022, before falling sharply starting in 2023 to lower levels by early 2025. The changes in net income closely tracked operating incomes but were moderated by tax and minority interest impacts.
- Minority Interests and Equity Earnings
- Net income attributable to noncontrolling interests showed increasingly negative values, indicating larger allocations of losses or reductions in earnings to minority stakeholders as the periods progressed. Equity in affiliated companies' net earnings were small and fluctuated without a clear trend, suggesting limited influence on the overall profitability.
- Summary
- The financial data depict a company experiencing substantial revenue growth and improved profit margins through 2021 and early 2022, followed by periods of increased cost pressures and volatility in non-operating items. Net income achieved record positive levels up to early 2022 but declined afterwards, notably from 2023 onward, paralleled by declines in revenues and increases in certain expenses. Interest expense reduction and controlled SG&A expenses contributed positively, while environmental and tax-related costs moderated profitability. Overall, the data indicate cyclical performance with strong growth phases followed by contraction in late 2024 and early 2025.