10/19/2023

speaker
Conference Operator
Call Moderator

in a listen-only mode. Later, we will conduct a question-and-answer session. If you wish to ask a question during the Q&A session, press star 1 on your touchtone phone. If you require assistance during the conference, please press star 0. I would now like to turn the conference over to Ms. Kathleen Quirk, President. Please go ahead, ma'am. Thank you, and good morning.

speaker
Kathleen Quirk
President

Welcome to our conference call. Earlier this morning, FCX reported our third 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, 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 the presentation materials and to the risk factors described in our SEC filings. On the call today is Richard Ackerson, our Chairman and CEO, Marie Robertson, our Chief Financial Officer, Mark Johnson, Chief Operating Officer for Indonesia, Josh Olmstead, the Chief Operating Officer for the Americas, Mike Kendrick, who heads our molybdenum business, Corey Stevens, who leads our technical services and engineering and construction group, and Steve Higgins, our chief administrative officer. We're going to start with Richard. He'll make some opening comments, and then we'll be reviewing the slide materials, and then we'll open up the call for your questions. Go ahead, Richard.

speaker
Richard Ackerson
Chairman and CEO

Good morning. Yeah, good morning. Thanks, Kathleen. As Kathleen said, she's going to review our operations and financial results for the third quarter. Big picture, we had very strong operations performance. And this was really notable in the face of a number of challenges we faced at different locations around the world. Once again, Team Freeport answered the bell and rang true. Stating the obvious, it's a complicated geopolitical and macroeconomic world. Freeport family around the world is sad for the poor people in Israel and Gaza and in the Ukraine and praying for a resolution to those conflicts. Macroeconomic factors with higher interest rates are negative for the price of copper in Freeport's equity. It goes without saying our business by design by strategy is correlated to the price of copper. In response to the recent lower copper prices, we are supported by having a strong balance sheet, which we're committed to maintaining, and by having the ability to manage our capital cost and operations to be responsive to the price environment. We remain very confident about the long-term outlook for For copper and for our company's equity, the current situation does nothing but bolster the longer-term outlook for copper prices as a commodity and for our future returns to Freeport shareholders. We look forward to answering your questions, and I'll turn the call over to Kathleen to review our results.

Disclaimer

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