In Freeport-McMoRan’s (FCX) 2Q15 earnings conference call, CEO Richard Adkerson remarked that “all options are on the table,” given the falling commodity prices.
Freeport-McMoRan’s energy strategy includes continuing to make capital investments in its oil and gas business despite lower energy prices.
Freeport is pursuing the Cerro Verde mill growth project in Peru. Freeport owns a 53.56% stake in Cerro Verde. It’s expected to become the world’s largest copper concentration capacity.
Freeport’s net debt was negative in 4Q12. But the company had to borrow heavily to acquire its energy assets, which increased its debt levels.
Even though Freeport managed to bring down its unit production costs, it was clearly not enough to offset lower commodity prices that are falling at a much faster pace.
Freeport’s average realized copper prices fell 14% in 2Q15 on a year-over-year basis. Lower commodity prices took a toll on Freeport’s 2Q15 profits.
Freeport-McMoRan (FCX) released its 2Q15 earnings on July 23. It reported a net loss of $1.85 billion, which was largely attributable to the $2 billion write-down of its oil and gas assets.
Under Armour (UA) reported an adjusted earnings per share (or EPS) of $0.07 in 2Q15, ahead of consensus Wall Street analyst estimates at $0.048.
In its 2Q15 earnings call, Under Armour (UA) announced that it should turn a profit in its European operations for the first time in 2015.
Late last year and in early 2015, Under Armour acquired Endomondo and MyFitnessPal. Its fitness app user platform became the largest in the world.
Under Armour’s (UA) revenue growth in 2Q15 accelerated to 28.5% year-over-year or $784 million. This revenue growth was propelled by footwear products.
Under Armour’s stock price breached two successive record highs after the release of its second-quarter earnings. UA rose to $96.05 on July 24.
Under Armour’s (UA) overall profitability declined in 2Q15. Operating profit margin came in at 4.1% of sales, compared to 5.7% in 2Q14
Under Armour (UA) reported a 33% year-over-year increase in direct-to-consumer (or DTC) sales in 2Q15.
Under Armour (UA) derived ~11% of its sales from outside the United States in 2Q15, or ~$89 million. Its international sales more than doubled in 2Q15.
Under Armour reported sales of $784 million in 2Q15, up 28.5% over 2Q14. Revenue also beat consensus Wall Street analyst estimates of $762 million.
On July 23, Under Armour released the financial results for its second quarter of 2015. Results were ahead of Wall Street estimates.
Aluminum prices have been in a downtrend for more than a month.
Alaska Air Group projects a 10% growth in capacity for 2015, and it expects to gain 3.4% from new markets and 3.6% from its core markets.
Alaska Air Group won its eighth straight JD Power award for customer service and its 14th consecutive Diamond Award for maintenance, training, and excellence.