Freeport-McMoRan earnings date
Freeport-McMoRan's next results are expected on October 27, 2026. Watch whether Freeport-McMoRan converts its recovery schedule into safe, repeatable shipments and cash.
What has Freeport-McMoRan guided for 2026?
For 2026, Freeport projects sales of 3,057 million pounds of copper, 654 thousand ounces of gold and 93 million pounds of molybdenum. Sales are not the same as production. At PT Freeport Indonesia, or PTFI, copper concentrate must pass through smelting and refining before the finished metal can be sold.
The annual unit net cash-cost target is $1.90 per pound. That measure excludes idle-facility and restoration costs, which are expected to total about $1.2 billion in 2026. So falling unit costs would show better operating leverage, but not the full economic cost of restarting Grasberg.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Projected consolidated sales volumes — copper (millions of recoverable pounds) | Year to Dec 2026 | 3,057 | 3,057 | Aug 6, 2026 |
| Projected consolidated sales volumes — gold (thousands of recoverable ounces) | Year to Dec 2026 | 654 | 654 | Aug 6, 2026 |
| Projected consolidated sales volumes — molybdenum (millions of recoverable pounds) | Year to Dec 2026 | 93 | 93 | Aug 6, 2026 |
| Consolidated unit net cash costs (US$ per pound of copper) | Year to Dec 2026 | 1.90 | 1.90 | Aug 6, 2026 |
| Capital expenditures — Total (US$ billions) | Year to Dec 2026 | 4.3 | 4.3 | Aug 6, 2026 |
| PTFI production rates — approach full capacity | Year-end 2027 | Oct 2, 2026 |
What this means. Consolidated sales volumes include production from partly owned mines that also belongs to partners, not just the company.
Has Freeport-McMoRan kept its recent promises?
For 2025, the annual formula produced 99.6% of target. After work-related fatalities and the Grasberg mud rush, the compensation committee reduced Quirk’s and Adkerson’s awards to 66.7% of target. The longer-term 2023–2025 awards still paid 125% because they measured a different period and different results.
Freeport also reported completing Bagdad’s autonomous-haulage conversion and restoring Indonesian smelter operations after the October 2024 fire. Those are real deliveries, though completion alone does not prove good returns or safe operations.
What is Freeport-McMoRan's eight-quarter revenue and profit trend?
The eight-quarter pattern shows an uneven rebound. Revenue and margins recovered from the December trough, but the March insurance gain and June insurance receipt belong to different accounting periods. Comparing those quarters without separating the timing would mistake settlement accounting for operating improvement.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,029 | 6,234 | 5,633 | 6,972 | 7,582 | 5,728 | 5,720 | 6,790 |
| Gross margin | 31.1% | 26.5% | 18.1% | 30.7% | 34.7% | 26.3% | 24.9% | 31.1% |
| Operating income | 2,003 | 2,137 | 811 | 1,972 | 2,432 | 1,303 | 1,243 | 1,938 |
| Net income | 984 | 881 | 406 | 674 | 772 | 352 | 274 | 526 |
| EPS, diluted | 0.68 | 0.61 | 0.28 | 0.46 | 0.53 | 0.24 | 0.19 | 0.36 |
What this means. The zero for interest paid does not mean the company paid no interest; its cash interest is included in cash from operations.