Freeport earnings dip on copper prices

Oct 22, 2013 | 06:29 PM | Rey Mashayekhi

Tags  Freeport-McMoRan Copper & Gold, copper prices, third-quarter earnings, Rey Mashayekhi

NEW YORK — Freeport-McMoRan Copper & Gold Inc. reported marginally lower net income in the third quarter, in large part due to lower copper prices that offset a boost in sales and losses on energy derivative contracts, the company said Oct. 22.

Phoenix-based Freeport posted third-quarter net income of $821 million, down 0.4 percent from $824 million in the same period last year. The company reported earnings per diluted share of 79 cents, down 8.1 percent from 86 cents per diluted share a year ago.....

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