Freeport-McMoRan Inc. (FCX) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

July 20, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Freeport-McMoRan Second Quarter Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Ms. Kathleen Quirk, President. Please go ahead, ma'am.

Kathleen Quirk

Thank you and good morning everyone. Welcome to our conference call. Earlier this morning, we reported our second quarter 2023 operating and financial results. And a copy of the press release and slides are available on our website at fcx.com. Our call today is being broadcast live on the Internet, and anyone may listen to the call by accessing our website homepage and clicking on the webcast link for the conference call. In addition to analysts and investors, the financial press has been invited to listen to today's call, and a replay of the webcast will be available on our website later today.

Before we begin our comments, we'd like to remind everyone that today's press release and certain of our comments on the call include forward-looking statements, and actual results may differ materially. I'd like to refer everyone to the cautionary language included in our press release and presentation materials and to the risk factors described in our SEC filings. On the call with me today are Richard Adkerson, our Chairman of the Board and CEO; Maree Robertson, our Chief Financial Officer; Josh Olmsted, who leads our Americas operations; Mark Johnson, who leads our Indonesian operations; Cory Stevens, who heads up our engineering, construction and technical services group; Mike Kendrick, who leads our molybdenum business; and Steve Higgins, our Chief Administrative Officer. We'll start the call. Richard will make some opening comments, and then I'll go through the prepared materials, our slide materials, and then we'll open the call to take your questions.

So I'd like to turn the call over to Richard.

Richard Adkerson

Thanks, Kathleen, and good morning everybody. Thanks for joining us. The positive second quarter results, at outlook we're reporting today, reflect that our operational performance has been in line with our plans and our prior guidance. Our teams and Freeport's global operations are executing with focus, drive and enthusiasm, all hallmarks of the Freeport culture. Fundamentals in the global copper market remain positive. Despite the frequently expressed concerns about a global economic slowdown and issues in China, electrification is expanding with ongoing advances in alternative energy, electric vehicles, connectivity and supporting infrastructure.