Freeport-McMoRan posts Q3 2026 earnings beat on higher metal prices despite rising costs
Freeport-McMoRan reported third‑quarter 2026 revenue of $7.55 billion, up about 8% year‑over‑year, and net income of $1.17 billion, or $0.81 per share. Adjusted earnings were $0.88 per share, beating consensus estimates. Unit net cash costs rose to $2.07 per pound of copper, reflecting higher energy and consumable expenses and lower by‑product credits, while copper and gold prices increased to $6.54 per pound and $4,273 per ounce respectively.
Why it matters
The company said higher metal prices offset the cost increase, preserving margins for the quarter. The earnings beat and guidance for full‑year copper sales of 3.0 billion pounds and operating cash flow of $8.5 billion may support the stock price in the near term.
Key facts
- 1Third‑quarter revenue was $7.55 billion, beating the $7.4 billion consensus. kitco.com
- 2Net income attributable to shareholders was $1.17 billion, or $0.81 per share. kitco.com
- 3Adjusted earnings were $0.88 per share, above the $0.82 consensus. kitco.com
- 4Consolidated unit net cash costs rose to $2.07 per pound of copper, up from $1.40 a year earlier. kitco.com
- 5Copper price averaged $6.54 per pound in the quarter. finance.yahoo.com
- 6Gold production was 234,000 ounces, while gold sales fell to 105,000 ounces. kitco.com
Summary written by AlphAI AI Desk from 13 of 13 sources. Not investment advice. Figures are as stated by the linked sources.