Freeport-McMoRan Reports Q3 2026 Financial and Operating Results

Overview of Form 8-K Filing

On October 27, 2026, Freeport-McMoRan Inc. (NYSE: FCX) filed a Current Report on Form 8-K covering Items 2.02 (Results of Operations and Financial Condition) and 7.01 (Regulation FD Disclosure), furnishing its third-quarter and nine-month 2026 financial and operating results.

Key Financial Highlights (Q3 2026)

• Revenues: $7.55 billion, compared to $6.97 billion in Q3 2025.
• Operating Income: $2.35 billion, up from $1.97 billion in Q3 2025.
• Net Income Attributable to Common Stock: $1.17 billion ($0.81 per diluted share), compared to $674 million ($0.46 per diluted share) in Q3 2025.
• Adjusted Net Income: $1.3 billion ($0.88 per share), excluding after-tax net charges totaling $101 million ($0.07 per share), primarily related to idle facility and restoration costs at PT Freeport Indonesia (PTFI).
• Operating Cash Flows: $1.98 billion (net of $0.4 billion in working capital and other uses), compared to $1.69 billion in Q3 2025.
• Capital Expenditures: $1.16 billion (including $0.7 billion for major mining projects).

Operating Highlights

• Production: Recoverable production reached 832 million pounds of copper, 234 thousand ounces of gold, and 22 million pounds of molybdenum.
• Sales: Consolidated sales stood at 749 million pounds of copper, 105 thousand ounces of gold, and 22 million pounds of molybdenum.
• Average Realized Prices: $6.54 per pound for copper, $4,273 per ounce for gold, and $32.46 per pound for molybdenum.
• Unit Cash Costs: Average unit net cash costs were $2.07 per pound of copper.

Balance Sheet & Capital Allocation

• Liquidity & Debt: Cash and cash equivalents totaled $4.34 billion, with total debt of $9.40 billion, resulting in net debt of $1.8 billion (excluding $3.2 billion of debt for PTFI downstream processing facilities).
• Share Repurchases: FCX repurchased 1.4 million common shares during Q3 2026 for $102 million (average price of $70.75 per share), bringing nine-month repurchases to 4.9 million shares for $305 million ($62.69 per share).

Trading Significance

This filing represents a standard periodic earnings release under Form 8-K Items 2.02 and 7.01 and contains no insider transactions. Significance is assessed as Low from an insider-trading perspective.