Freeport’s profits soar in strong fourth quarter

Freeport-McMoRan reported a strong finish to 2017, with net income drastically improved year on year for both the fourth quarter and full year, the company announced in an earnings release on Thursday January 25.

In the full year 2017, Freeport overhauled its balance sheet. Total profits soared to $1.82 billion, compared with a $4.15-billion loss for the full year 2016, on revenue that rose to $16.40 billion versus the previous year's $14.83 billion. Fourth-quarter income more than tripled year on year, spiking to $1.04 billion from $292 million in the same...

Published

Dalton Barker

January 26, 2018

01:36 GMT

Chicago