Freeport-McMoRan, Inc. (FCX - Get Report) is expected to report a loss of $79.5 million, or 5 cents a share, on sales of $3.5 billion before the market opens on Wednesday, based on a FactSet survey of 17 analysts.
In the same period a year ago, the company posted earnings of 58 cents a share on sales of $5.2 billion. It reported net income of $699 million.
The stock has fallen 5.9% since the company last reported earnings on Apr. 25.
Quarterly estimates have fallen 16.3 cents a share in the past month.
Freeport-McMoRan is currently trading at a price-to-forward-earnings ratio of 23.9 based on the 12-month estimates of 19 analysts surveyed by FactSet.
In the upcoming quarter analysts are forecasting adjusted net income of $76.2 million, or 8 cents a share, on sales of $3.8 billion.
Introducing TheStreet Courses: Financial titans Jim Cramer and Robert Powell are bringing their market savvy and investing strategies to you. Learn how to create tax-efficient income, avoid top mistakes, reduce risk and more. With our courses, you will have the tools and knowledge needed to achieve your financial goals. Learn more about TheStreet Courses on investing and personal finance here.