Freeport-McMoRan Q3 revenue rises on higher copper prices
FCX•Freeport-McMoRan reported higher third-quarter revenue, net income of $1.17 billion and EPS of $0.81. It expects 2026 copper sales of 3.0 billion pounds and operating cash flows of $8.5 billion, assuming stated commodity prices.
1. Quarterly results
Freeport-McMoRan said third-quarter revenue rose year over year, driven by higher copper and molybdenum prices. Net income and adjusted EPS increased from a year earlier; net income was $1.17 billion and EPS was $0.81. Copper sales volumes were in line with expectations, while gold sales volumes were affected by the timing of sales in Indonesia. The company repurchased 1.4 million shares for $102 million during the quarter.
2. 2026 outlook
The company expects 2026 sales of 3.0 billion pounds of copper, 649,000 ounces of gold and 93 million pounds of molybdenum. It expects average unit net cash costs of $1.90 per pound of copper and operating cash flows of $8.5 billion, assuming the stated commodity prices.
