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Freeport-McMoRan Inc. (FCX) Q2 FY2026 Financial Statements: Revenue $7.03B, Net income $984.00M

CIK 0000831259 · NYSE · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0000831259-26-000036) · Annual report: FY2025 10-K (filed 2026-02-13, accession 0000831259-26-000012) · Next expected filing: 10-Q ~2026-11-05

More for Freeport-McMoRan: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026

Published

Freeport-McMoRan reported $7.03 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, down 7.3% from a year earlier, while net income attributable to common stockholders rose to $984 million, or $0.68 per diluted share, from $772 million and $0.53 a year earlier. The quarter set price against volume: copper sales fell to 710 million pounds from 1,016 million while the average realized copper price rose to $6.17 per pound, up 35.9%. Freeport-McMoRan attributed the higher earnings mainly to lower income taxes and a smaller share of profit going to noncontrolling interests, as more of its operating income came from the U.S. copper mines while PT Freeport Indonesia worked through the phased restart of the Grasberg Block Cave.

MetricAmountvs. year ago
Revenue$7,029,000,000down 7.3%
Net income$984,000,000up 27.5%
Diluted EPS$0.68up 28.3%
Realized copper price (per pound)$6.17up 35.9%
Copper sales (million pounds)710down 30.1%

About this file

TickerFCX
CIK0000831259
CompanyFreeport-McMoRan Inc.
Business typeindustrial
Schema templatestandard industrial/mining (revenue, cost of sales, operating income, net income, EPS; cash, debt, assets, equity; operating cash flow, capital expenditures, free cash flow) with a copper/gold/molybdenum operating-metrics block
Reporting currencyUSD
Converted to USDno
Unitsactual dollars (not millions), except per-share amounts, per-unit metal prices and the volume metrics whose field names state their own unit

FCX annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Fiscal year202520242023
LabelFY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession0000831259-26-0000120000831259-26-0000120000831259-26-000012
Income statement
Revenues25,915,000,00025,455,000,00022,855,000,000
Production and delivery16,374,000,00015,554,000,00013,627,000,000
Depreciation depletion and amortization2,244,000,0002,241,000,0002,068,000,000
Total cost of sales18,618,000,00017,795,000,00015,695,000,000
Selling general and administrative expenses545,000,000513,000,000479,000,000
Exploration and research expenses192,000,000156,000,000137,000,000
Environmental obligations and shutdown costs58,000,000127,000,000319,000,000
Total costs and expenses19,397,000,00018,591,000,00016,630,000,000
Operating income6,518,000,0006,864,000,0006,225,000,000
Interest expense net-369,000,000-319,000,000-515,000,000
Other income net223,000,000362,000,000286,000,000
Income before income taxes and equity in affiliated companies net earnings6,372,000,0006,907,000,0006,006,000,000
Provision for income taxes-2,221,000,000-2,523,000,000-2,270,000,000
Equity in affiliated companies net earnings1,000,00015,000,00015,000,000
Net income4,152,000,0004,399,000,0003,751,000,000
Net income attributable to noncontrolling interests-1,948,000,000-2,510,000,000-1,903,000,000
Net income attributable to common stockholders2,204,000,0001,889,000,0001,848,000,000
Basic EPS1.531.311.28
Diluted EPS1.521.31.28
Dividends declared per share0.60.60.6
Basic shares1,437,000,0001,438,000,0001,434,000,000
Diluted shares1,443,000,0001,445,000,0001,443,000,000
Gain on sales of assets-16,000,000
Gross profit7,297,000,0007,660,000,0007,160,000,000
Net gain on early extinguishment of debt10,000,000
Cash flow
Net cash provided by operating activities5,610,000,0007,160,000,0005,279,000,000
Net cash used in investing activities-4,472,000,000-5,028,000,000-4,956,000,000
Dividends paid on common stock-865,000,000-865,000,000-863,000,000
Distributions paid to noncontrolling interests-1,274,000,000-1,833,000,000-625,000,000
Treasury stock purchases-107,000,000-59,000,0000
Net cash used in financing activities-1,876,000,000-3,284,000,000-2,650,000,000
Capital expenditures4,494,000,0004,808,000,0004,824,000,000
Free cash flow1,116,000,0002,352,000,000455,000,000
Balance sheet
Cash and cash equivalents3,824,000,0003,923,000,000
Restricted cash and cash equivalents230,000,000888,000,000
Total current assets13,790,000,00013,296,000,000
Property plant equipment and mine development costs net40,736,000,00038,514,000,000
Total assets58,167,000,00054,848,000,000
Accounts payable and accrued liabilities4,565,000,0004,057,000,000
Current portion of debt466,000,00041,000,000
Total current liabilities6,019,000,0005,496,000,000
Long term debt less current portion8,913,000,0008,907,000,000
Environmental and asset retirement obligations less current portion5,541,000,0005,404,000,000
Total liabilities27,401,000,00026,070,000,000
Total stockholders equity18,899,000,00017,581,000,000
Noncontrolling interests11,867,000,00011,197,000,000
Total equity30,766,000,00028,778,000,000
Total debt9,379,000,0008,948,000,000
Key operating metrics
Unit net cash costs per pound of copper1.651.56
Copper production millions of recoverable pounds3,3834,2144,212
Copper sales excluding purchases millions of recoverable pounds3,5744,0664,086
Gold production thousands of recoverable ounces9561,8801,993
Gold sales excluding purchases thousands of recoverable ounces1,0661,8371,713
Molybdenum production millions of recoverable pounds928082
Molybdenum sales excluding purchases millions of recoverable pounds837881
Average realized copper price per pound4.754.213.85
Average realized gold price per ounce3,4232,4181,972
Average realized molybdenum price per pound22.6321.7724.64

FCX quarterly income statement, balance sheet and cash flow

Q2 2026Q2 2025
LabelQ2 2026Q2 2025
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Period typethree monthsthree months
Source accession0000831259-26-0000360000831259-26-000036
Income statement
Revenues7,029,000,0007,582,000,000
Production and delivery4,320,000,0004,282,000,000
Depreciation depletion and amortization523,000,000668,000,000
Total cost of sales4,843,000,0004,950,000,000
Selling general and administrative expenses135,000,000127,000,000
Exploration and research expenses53,000,00046,000,000
Environmental obligations and shutdown costs13,000,00027,000,000
Total costs and expenses5,026,000,0005,150,000,000
Operating income2,003,000,0002,432,000,000
Interest expense net-95,000,000-82,000,000
Other income net22,000,00041,000,000
Income before income taxes and equity in affiliated companies net earnings1,930,000,0002,391,000,000
Provision for income taxes-544,000,000-850,000,000
Equity in affiliated companies net earnings5,000,0006,000,000
Net income1,391,000,0001,547,000,000
Net income attributable to noncontrolling interests-407,000,000-775,000,000
Net income attributable to common stockholders984,000,000772,000,000
Basic EPS0.680.53
Diluted EPS0.680.53
Dividends declared per share0.150.15
Basic shares1,438,000,0001,437,000,000
Diluted shares1,443,000,0001,443,000,000
Gross profit2,186,000,0002,632,000,000
Gain on sales of assets-18,000,000
Cash flow
Net cash provided by operating activities2,048,000,0002,195,000,000
Capital expenditures1,104,000,0001,261,000,000
Free cash flow944,000,000934,000,000
Key operating metrics
Copper production millions of recoverable pounds786963
Copper sales excluding purchases millions of recoverable pounds7101,016
Gold production thousands of recoverable ounces192317
Gold sales excluding purchases thousands of recoverable ounces123522
Molybdenum production millions of recoverable pounds2322
Molybdenum sales excluding purchases millions of recoverable pounds2522
Average realized copper price per pound6.174.54
Average realized gold price per ounce4,5203,291
Average realized molybdenum price per pound28.7521.1
Unit net cash costs per pound of copper1.971.13
Balance sheet
Cash and cash equivalents4,080,000,0004,490,000,000
Restricted cash and cash equivalents278,000,000
Total current assets14,165,000,000
Property plant equipment and mine development costs net41,705,000,000
Total assets59,727,000,000
Accounts payable and accrued liabilities4,582,000,000
Current portion of debt1,220,000,000
Total current liabilities6,856,000,000
Long term debt less current portion8,166,000,000
Environmental and asset retirement obligations less current portion5,616,000,000
Total liabilities27,505,000,000
Total stockholders equity20,109,000,000
Noncontrolling interests12,113,000,000
Total equity32,222,000,000
Total debt9,386,000,0009,251,000,000

FCX year-to-date income statement and cash flow

Six months ended June 30, 2026
Income statement
Revenues13,263,000,000
Production and delivery8,385,000,000
Depreciation depletion and amortization1,037,000,000
Total cost of sales9,422,000,000
Gross profit3,841,000,000
Selling general and administrative expenses297,000,000
Exploration and research expenses91,000,000
Environmental obligations and shutdown costs30,000,000
Gain on ptfi mud rush incident insurance settlement-699,000,000
Gain on sales of assets-18,000,000
Total costs and expenses9,123,000,000
Operating income4,140,000,000
Interest expense net-209,000,000
Other income net33,000,000
Income before income taxes and equity in affiliated companies net earnings3,964,000,000
Provision for income taxes-1,197,000,000
Equity in affiliated companies net earnings11,000,000
Net income2,778,000,000
Net income attributable to noncontrolling interests-913,000,000
Net income attributable to common stockholders1,865,000,000
Basic EPS1.29
Diluted EPS1.29
Basic shares1,439,000,000
Diluted shares1,444,000,000
Dividends declared per share0.3
Cash flow
Net cash provided by operating activities3,543,000,000
Capital expenditures2,077,000,000
Free cash flow1,466,000,000
Net cash used in investing activities-2,177,000,000
Net cash used in financing activities-1,048,000,000
Dividends paid on common stock-434,000,000
Distributions paid to noncontrolling interests-359,000,000
Treasury stock purchases-203,000,000
Key operating metrics
Copper production millions of recoverable pounds1,448
Copper sales excluding purchases millions of recoverable pounds1,367
Gold production thousands of recoverable ounces289
Gold sales excluding purchases thousands of recoverable ounces244
Molybdenum production millions of recoverable pounds45
Molybdenum sales excluding purchases millions of recoverable pounds49
Average realized copper price per pound6.04
Average realized gold price per ounce4,704
Average realized molybdenum price per pound27.03
Unit net cash costs per pound of copper1.94
LabelSix months ended June 30, 2026
Period start2026-01-01
Period end2026-06-30
Period typesix months
Source accession0000831259-26-000036
Prior year comparative
Income statement
Revenues13,310,000,000
Production and delivery8,038,000,000
Depreciation depletion and amortization1,134,000,000
Total cost of sales9,172,000,000
Gross profit4,138,000,000
Selling general and administrative expenses281,000,000
Exploration and research expenses85,000,000
Environmental obligations and shutdown costs37,000,000
Total costs and expenses9,575,000,000
Operating income3,735,000,000
Interest expense net-152,000,000
Other income net99,000,000
Income before income taxes and equity in affiliated companies net earnings3,682,000,000
Provision for income taxes-1,350,000,000
Equity in affiliated companies net earnings8,000,000
Net income2,340,000,000
Net income attributable to noncontrolling interests-1,216,000,000
Net income attributable to common stockholders1,124,000,000
Basic EPS0.78
Diluted EPS0.77
Basic shares1,438,000,000
Diluted shares1,444,000,000
Dividends declared per share0.3
Cash flow
Net cash provided by operating activities3,253,000,000
Capital expenditures2,433,000,000
Free cash flow820,000,000
Net cash used in investing activities-2,432,000,000
Net cash used in financing activities-908,000,000
Dividends paid on common stock-433,000,000
Distributions paid to noncontrolling interests-625,000,000
Treasury stock purchases-107,000,000
Key operating metrics
Copper production millions of recoverable pounds1,831
Copper sales excluding purchases millions of recoverable pounds1,888
Gold production thousands of recoverable ounces604
Gold sales excluding purchases thousands of recoverable ounces650
Molybdenum production millions of recoverable pounds45
Molybdenum sales excluding purchases millions of recoverable pounds42
Average realized copper price per pound4.48
Average realized gold price per ounce3,260
Average realized molybdenum price per pound21.37
Unit net cash costs per pound of copper1.56
LabelSix months ended June 30, 2025
Period start2025-01-01
Period end2025-06-30
Period typesix months
Source accession0000831259-26-000036

FCX trailing twelve month income statement and cash flow

Trailing twelve months ended June 30, 2026
Income statement
Revenues25,868,000,000
Production and delivery16,721,000,000
Depreciation depletion and amortization2,147,000,000
Total cost of sales18,868,000,000
Gross profit7,000,000,000
Selling general and administrative expenses561,000,000
Exploration and research expenses198,000,000
Environmental obligations and shutdown costs51,000,000
Gain on ptfi mud rush incident insurance settlement-699,000,000
Gain on sales of assets-34,000,000
Total costs and expenses18,945,000,000
Operating income6,923,000,000
Interest expense net-426,000,000
Other income net157,000,000
Income before income taxes and equity in affiliated companies net earnings6,654,000,000
Provision for income taxes-2,068,000,000
Equity in affiliated companies net earnings4,000,000
Net income4,590,000,000
Net income attributable to noncontrolling interests-1,645,000,000
Net income attributable to common stockholders2,945,000,000
Basic EPS2.04
Diluted EPS2.04
Basic shares1,438,000,000
Diluted shares1,443,000,000
Dividends declared per share0.6
Cash flow
Net cash provided by operating activities5,900,000,000
Capital expenditures4,138,000,000
Free cash flow1,762,000,000
Net cash used in investing activities-4,217,000,000
Net cash used in financing activities-2,016,000,000
Dividends paid on common stock-866,000,000
Distributions paid to noncontrolling interests-1,008,000,000
Treasury stock purchases-203,000,000
Key operating metrics
Copper production millions of recoverable pounds3,000
Copper sales excluding purchases millions of recoverable pounds3,053
Gold production thousands of recoverable ounces641
Gold sales excluding purchases thousands of recoverable ounces660
Molybdenum production millions of recoverable pounds92
Molybdenum sales excluding purchases millions of recoverable pounds90
LabelTrailing twelve months ended June 30, 2026
Period start2025-07-01
Period end2026-06-30
Period typetrailing twelve months
Source accession0000831259-26-000012 and 0000831259-26-000036
Derivationfull-year 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025

Adjustments

Value
Splits appliednone
ADR ration/a
FXnone - Freeport-McMoRan reports in U.S. dollars

Notes

  • Freeport-McMoRan is a copper, gold and molybdenum mining company. The record uses a standard industrial template - revenues, cost of sales, operating income, net income and per-share amounts; cash, debt, assets and equity; operating cash flow, capital expenditures and free cash flow - with a key_operating_metrics block carrying the sales volumes, realized metal prices and unit net cash costs that are the measures management says it runs the business on.
  • Freeport reports in U.S. dollars on a calendar fiscal year ending December 31. Dollar amounts in this record are stated in actual dollars; the filings present them in millions.
  • Coverage: the FY2025 10-K (accession 0000831259-26-000012) presents income statements and cash flow statements for 2025, 2024 and 2023 and balance sheets at December 31, 2025 and 2024, so FY2023 here carries no balance sheet. The second-quarter 2026 10-Q (accession 0000831259-26-000036) presents the three and six months ended June 30, 2026 and 2025, balance sheets at June 30, 2026 and December 31, 2025, and cash flow statements for the six-month periods only.
  • Gross profit is not a line Freeport prints. It is shown here as revenues less total cost of sales (production and delivery plus depreciation, depletion and amortization), so operating margins are comparable across periods.
  • Free cash flow is not a line Freeport prints. It is shown here as net cash provided by operating activities less capital expenditures.
  • Capital expenditures for 2025 and 2024 ($4,494 million and $4,808 million) are the totals the 10-K's management discussion prints. The 10-K's cash flow statement itemises capital expenditures by operation rather than as one line, so the 2023 figure of $4,824 million is the sum of those five items: U.S. copper mines $761 million, South America operations $368 million, Indonesia operations $3,411 million, molybdenum mines $84 million and other $200 million.
  • Three-month cash flow: the 10-Q's cash flow statement presents only the six months ended June 30, 2026 and 2025. Operating cash flow and capital expenditures for the three months ended June 30, 2026 ($2,048 million and $1,104 million) and June 30, 2025 ($2,195 million and $1,261 million) are the amounts the same 10-Q's management discussion prints in its three-month columns. Investing and financing cash flows are not presented for a three-month period and so are absent from the quarterly entries.
  • The 10-Q presents balance sheets only at June 30, 2026 and December 31, 2025. The Q2 2025 entry therefore carries just the two point-in-time amounts the 10-Q states for June 30, 2025: cash and cash equivalents of $4,490 million and total debt of $9,251 million.
  • Net income is the consolidated total including noncontrolling interests; net income attributable to common stockholders is the amount earnings per share is struck on. Freeport consolidates PT Freeport Indonesia and Cerro Verde, which it does not wholly own, so the two differ substantially - $4,152 million versus $2,204 million in 2025.
  • Total debt is total debt including the current portion, as the filings present it. Freeport reports long-term leases on a separate balance-sheet line and does not include them in total debt; that presentation is followed here.
  • The gain on sales of assets and the gain on the PT Freeport Indonesia mud rush incident insurance settlement are carried with the sign the income statement prints them with - negative, because each is a credit inside total costs and expenses.
  • The year-to-date block covers the six months ended June 30, 2026, with the six months ended June 30, 2025 held inside it as the prior-year comparative. The trailing-twelve-month block covers July 1, 2025 through June 30, 2026 and is computed as full-year 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025.
  • Trailing-twelve-month per-share amounts follow from the reported figures: diluted earnings per share of $2.04 is $1.52 for 2025 plus $1.29 for the first half of 2026 less $0.77 for the first half of 2025, and basic earnings per share of $2.04 is $1.53 plus $1.29 less $0.78 on the same basis. The basic and diluted share counts shown for that window are the roughly 1,438 million and 1,443 million weighted-average levels both filings report rather than separately published trailing averages.
  • Realized metal prices and unit net cash costs are weighted averages and are not aggregated into the trailing-twelve-month view. The trailing sales and production volumes shown there are the arithmetic sum of the component periods.
  • Unit net cash costs per pound of copper is a measure Freeport reports net of by-product credits and before net noncash and other costs. The second-quarter 2026 figure of $1.97 and the first-half 2026 figure of $1.94 exclude $0.40 and $0.50 per pound respectively of idle facility and restoration costs related to PT Freeport Indonesia's September 2025 mud rush incident; the 2025 figures carry no such exclusion, so the comparison understates the year-over-year cost increase.
  • No stock splits, ADR conversion or currency translation applies: Freeport has had no splits in the period covered, is not an ADR, and reports in U.S. dollars.

Uncertainties

  • FY2023 carries no balance sheet: the FY2025 10-K presents balance sheets only at December 31, 2025 and 2024.
  • FY2023 carries no unit net cash costs per pound of copper. The FY2025 10-K prints that measure for 2025 and 2024 only.
  • The Q2 2025 entry carries only cash and total debt under balance_sheet, because the 10-Q does not present a June 30, 2025 balance sheet.
  • Investing and financing cash flows, and the individual cash flow line items below them, are not available for the three-month periods; only operating cash flow and capital expenditures are disclosed on a three-month basis.
  • The diluted share count in the trailing-twelve-month block is the approximately 1,443 million level reported in both filings, not a separately published trailing weighted average, so trailing diluted earnings per share of $2.04 should be read as the sum of the reported per-share amounts rather than as an independently computed ratio.
  • Trailing-twelve-month figures are arithmetic combinations of reported periods, not amounts Freeport itself publishes.
  • Revenues, operating income and net income are not broken out by operating division here, although the filings do report segment results.

Company details

Value
NameFreeport-Mcmoran Inc
TickerFCX
CIK0000831259
ExchangeNYSE
StateArizona
IncorporationDelaware
SIC1000
OfficeEnergy & Transportation
IndustryMetal Mining

Fiscal period

FY2026
Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0000831259-26-000036
Fiscal year end1231
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionUrlSource
annualno10-K2025FYFY252025-12-312026-02-130000831259-26-000012https://www.sec.gov/Archives/edgar/data/831259/000083125926000012/0000831259-26-000012-index.htmreported
quarterlyyes10-Q2026Q2FY26Q22026-06-302026-08-060000831259-26-000036https://www.sec.gov/Archives/edgar/data/831259/000083125926000036/0000831259-26-000036-index.htmfacts

FAQ · Freeport-McMoRan financial statements

How much did Freeport-McMoRan earn in Q2 FY2026?

Freeport-McMoRan reported net income attributable to common stockholders of $984 million, or $0.68 per diluted share, for Q2 FY2026, the quarter ended June 30, 2026. That is up 27.5% from $772 million, or $0.53 per diluted share, in the same quarter a year earlier.

What was Freeport-McMoRan's revenue in Q2 FY2026?

Freeport-McMoRan reported $7.03 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026. That is down 7.3% from $7.58 billion in the same quarter a year earlier.

What copper price did Freeport-McMoRan realize in Q2 FY2026?

Freeport-McMoRan's average realized copper price was $6.17 per pound in Q2 FY2026, up 35.9% from $4.54 a year earlier, on 710 million pounds of copper sold.

Why did Freeport-McMoRan's copper sales fall in Q2 FY2026?

Freeport-McMoRan sold 710 million pounds of copper in Q2 FY2026, down from 1,016 million a year earlier, with Indonesian volumes still far below normal as PT Freeport Indonesia carried out the phased restart of the Grasberg Block Cave after the September 2025 mud rush. A realized copper price of $6.17 per pound, up 35.9% from $4.54, recovered most of the copper revenue lost to the lower volume.

Where can I get Freeport-McMoRan Inc. (FCX) financial data in machine-readable form?

Ticker Scout publishes Freeport-McMoRan Inc.'s financial statements as JSON at https://tickerscout.ai/fcx/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/fcx/narrative.md and https://tickerscout.ai/fcx/events.md. Freeport-McMoRan Inc.'s SEC CIK is 0000831259. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Freeport-McMoRan Inc. (FCX) next file with the SEC?

Freeport-McMoRan Inc. (FCX) is expected to file its next Form 10-Q with the SEC on or around November 5, 2026. That date is a projection rather than a company-announced date: it is derived from Freeport-McMoRan Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000831259-26-000036.

How this page was built

This page was built from two of Freeport-McMoRan Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names seven such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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Built from Freeport-McMoRan Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.