Why did FCX's earnings fluctuate in 2024?

Freeport-McMoRan Inc (FCX) experienced a fluctuating net income in 2024, primarily due to the following factors:

1. **Decline in Net Income Attributable to Common Stockholders**: Despite a revenue uptick, the net income attributable to common stockholders dipped. This was influenced by higher income attributable to noncontrolling interests, particularly in its Indonesian operations.
2. **Challenges from Copper Supply and Price Fluctuations**: FCX's financial performance is closely tied to the copper market. In 2024, the company faced challenges from a constrained copper supply, which might not keep up with demand. Additionally, copper prices experienced fluctuations, affecting the company's earnings. For instance, there was a fall in copper prices due to China's slower-than-expected economic growth, which impacted FCX's revenue and margins.

In summary, FCX's earnings fluctuated in 2024 due to a combination of factors including decline in net income attributable to common stockholders and challenges from copper supply and price fluctuations.

|code|Ticker|Name|Date|Net Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code|
|---|---|---|---|---|---|---|---|
|FCX|FCX.N|Freeport-McMoRan|2024 Q1|10.772163965681601|17.294488773427354|-30.434782608695656|169|
|FCX|FCX.N|Freeport-McMoRan|2024 Q2|75.10259917920656|15.461042356632387|82.6086956521739|169|
|FCX|FCX.N|Freeport-McMoRan|2024 Q3|28.21576763485477|16.58653846153846|16.129032258064512|169|
|FCX|FCX.N|Freeport-McMoRan|2024 Q4|-28.401191658391262|-3.132938187976291|-29.629629629629633|169|