Freeport-McMoRan Copper & Gold Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's revenues were $4,144 million against $4,616 million a year ago. Operating income was $2,084 million against $1,133 million a year ago. Income before income taxes and equity in affiliated companies' net earnings was $1,884 million against $980 million a year ago. Net income attributable to the company's common stockholders was $925 million or $2.07 per diluted share against $523 million or $1.31 per diluted share a year ago. Capital expenditures totaled $244 million. Operating cash flows totaled $2.0 billion. For the nine months, the company's revenues were $10,430 million against $15,729 million a year ago. Operating income was $4,264 million against $5,582 million a year ago. Income before income taxes and equity in affiliated companies' net earnings was $3,758 million against $5,142 million a year ago. Net income attributable to the company's common stockholders was $1,556 million or $3.70 per diluted share against $2,592 million or $6.20 per diluted share a year ago. Net cash provided by operating activities was $2,850 million against $3,169 million a year ago. Capital expenditures totaled $1.1 billion. The company provided capital expenditure guidance for the years 2009 and 2010. For the year 2009, the company's capital expenditures are currently estimated to approximate $1.4 billion. Consolidated operating cash flows, net of an estimated $0.3 billion of working capital requirements, are estimated to exceed $4.0 billion. For the year 2010, the company's capital expenditures are currently estimated to approximate $1.4 billion.

Freeport-McMoRan Copper & Gold Inc., Q3 2009 Earnings Call, Oct 21 2009

Freeport-McMoRan Copper & Gold Inc. provides capex guidance for the year 2009. For the year, the company is now looking at capital expenditures of $1.4 billion which is consistent with what it been saying throughout the year, roughly half of the spending level it had in 2008.