FREEPORT-MCMORAN INC (FCX) Form 8-K — Oct 27, 2026
Freeport-McMoRan reported Q3 2026 net income of $1.2 billion ($0.81 per share) and adjusted net income of $1.3 billion ($0.88 per share), up sharply from $674 million ($0.46 per share) a year ago, on revenues of $7.5 billion. Favorable copper and molybdenum pricing (realized copper at $6.54/lb) drove strong margins despite lower sales volumes during the Grasberg ramp-up. Operations are tracking to plan: Q3 copper production of 832 million pounds and sales of 749 million pounds were in line with estimates, and PTFI's Indonesian smelter re-commenced operations in late August 2026.
Key figures
- Eps
- 0.81
- Revenue
- 7546000000
- Guidance
- FY2026 consolidated sales ~3.0B lbs copper, 649k oz gold, 93M lbs molybdenum; FY2026 operating cash flows ~$8.5B; FY2026 capex ~$4.4B; FY2026 unit net cash costs ~$1.90/lb copper
- Net Income
- 1174000000
- Total Debt
- 9398000000
- Revenue Yoy
- 8.2% (Q3 2026 revenue $7.546B vs $6.972B in Q3 2025)
- Cash Position
- 4335000000
- Capex q3
- $1.2B
- Gold sales q3 koz
- 105
- Copper sales q3 mlbs
- 749
- Q3 share repurchases
- 1.4M shares for $102M ($70.75 avg)
- Ytd share repurchases
- 4.9M shares for $305M
- Adjusted net income q3
- $1.3B ($0.88 per share)
- Gold production q3 koz
- 234
- Operating cash flow q3
- $2.0B
- Unit net cash costs q3
- $2.07/lb copper
- Avg realized gold price
- $4,273/oz
- Ytd shareholder returns
- $955M ($650M dividends + $305M buybacks)
- Net debt ex smelter debt
- $1.8B
- Avg realized copper price
- $6.54/lb
- Copper production q3 mlbs
- 832
- Idle facility restoration costs q3
- $244M (PTFI mud rush incident)
AI analysis
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