January 25, 2018 / 1:17 PM / a month ago

BRIEF-Freeport-Mcmoran Reports Q4 Adjusted Earnings $0.51/Shr

Jan 25 (Reuters) - Freeport-Mcmoran Inc:

* FREEPORT-MCMORAN REPORTS FOURTH-QUARTER AND YEAR ENDED DECEMBER 31, 2017 RESULTS

* Q4 EARNINGS PER SHARE $0.71

* Q4 EARNINGS PER SHARE VIEW $0.45 -- THOMSON REUTERS I/B/E/S

* Q4 ADJUSTED EARNINGS PER SHARE $0.51

* FREEPORT-MCMORAN SEES 2018 CONSOL SALES OF ABOUT 3.9 BILLION POUNDS OF COPPER, 2.4 MILLION OUNCES OF GOLD AND 91 MILLION POUNDS OF MOLYBDENUM

* AT DECEMBER 31, 2017, CONSOLIDATED CASH TOTALED $4.4 BILLION AND CONSOLIDATED DEBT TOTALED $13.1 BILLION

* HAD NO BORROWINGS AND $3.5 BILLION AVAILABLE UNDER ITS REVOLVING CREDIT FACILITY AT DECEMBER 31, 2017.

* QTRLY AVERAGE REALIZED PRICE WAS $3.21 PER POUND FOR COPPER VERSUS $2.48 PER POUND

* Q4 COPPER SALES OF 1.0 BILLION POUNDS APPROXIMATED OCT 2017 ESTIMATE AND WERE LOWER THAN Q4 2016 SALES OF 1.1 BILLION POUNDS

* QTRLY AVERAGE REALIZED PRICE WAS $1,285 PER OUNCE FOR GOLD VERSUS $1,174 PER OUNCE

* QTRLY GOLD SALES OF 593 THOUSAND OUNCES WERE LOWER THAN OCTOBER 2017 ESTIMATE OF 625 THOUSAND OUNCES

* QTRLY REVENUES $5,041 MILLION VERSUS $4,377 MILLION LAST YEAR

* Q4 REVENUE VIEW $4.80 BILLION -- THOMSON REUTERS I/B/E/S

* QTRLY MOLYBDENUM SALES OF 24 MILLION POUNDS VERSUS 22 MILLION POUNDS

* FREEPORT-MCMORAN - RECORDED NET GAINS OF $291 MILLION ($0.20 PER SHARE) IN QUARTER PRIMARILY RELATED TO TAX BENEFITS FROM U.S. TAX REFORM

* FREEPORT-MCMORAN - SEES SALES 1.0 BILLION POUNDS OF COPPER, 675 THOUSAND OUNCES OF GOLD AND 24 MILLION POUNDS OF MOLYBDENUM FOR FIRST-QUARTER 2018

* FCX CONTINUES TO EVALUATE A MAJOR EXPANSION AT EL ABRA TO PROCESS ADDITIONAL SULFIDE MATERIAL AND TO ACHIEVE HIGHER RECOVERIES

* FREEPORT - CONTINUE TO MAKE SIGNIFICANT PROGRESS IN NEGOTIATIONS WITH INDONESIA GOVERNMENT. TO RESTORE “LONG-TERM STABILITY” FOR GRASBERG OPERATIONS

* CAPITAL EXPENDITURES ARE EXPECTED TO APPROXIMATE $2.1 BILLION FOR YEAR 2018

* FREEPORT-MCMORAN - IF PT-FI UNABLE TO REACH DEFINITIVE AGREEMENT WITH INDONESIA, FCX INTENDS TO REDUCE OR DEFER INVESTMENTS “SIGNIFICANTLY” IN PROJECTS Source text for Eikon: Further company coverage:

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