Freeport-McMoRan Inc. reported second-quarter 2023 net income attributable to common stock of $343 million, $0.23 per share, and adjusted net income attributable to common stock of $500 million, $0.35 per share, after excluding net charges totaling $157 million, $0.11 per share, primarily associated with charges for an unfavorable tax ruling at Cerro Verde, adjustments to environmental obligations and an accrual of a potential administrative fine in Indonesia.
Richard C. Adkerson, Chairman and Chief Executive Officer, said, "Our global team continues to execute our strategy and deliver strong results. During the second quarter, we achieved solid production performance, managed costs efficiently and advanced several important value-enhancing initiatives. As a leading supplier of copper with long-lived reserves, organic growth opportunities, a solid balance sheet and a proven track record for successful project development, we are positioned for a bright future for the benefit of all stakeholders."
For full details, read the news release on FCX.com.