Freeport-McMoRan Inc. (NYSE:FCX) shares are trading lower after the company reported second-quarter FY24 results. Revenue stood at $6.62 billion, beating the consensus of $5.99 billion. Adjusted EPS was $0.46, beating the consensus of $0.38. Copper sales totaled 931 million pounds, down 10% year-over-year and 5% below the April 2024 estimate, due to shipping delays in Indonesia while awaiting PT-FI’s copper concentrate export license, granted in July 2024. The average realized price per pound was $4.48, and production totaled 1.037 billion pounds. Gold sales stood at 361 thousand ounces, down 27% Y/Y and 28% lower than the April 2024 estimate of 500 thousand ounces. The average realized price per ounce stood at $2,299 in the quarter.  Operating income stood at $2.05 billion vs $1.41 billion a year ago. Operating cash flow for the quarter totaled $1.96 billion, compared to $1.67 billion a year ago. Freeport-McMoRan had $6.2 billion in cash and equivalents at the end of the ...