Freeport-McMoRan Reports Strong Q3 2026 Earnings Driven by Higher Metal Prices
Freeport-McMoRan (FCX) reported a significant surge in third-quarter 2026 earnings, with net income rising to $1.2 billion ($1.20 per share) compared to $0.46 per share in the prior-year period. The company's revenue grew to $7.5 billion, up from $7.0 billion a year ago, bolstered by a 40% increase in average realized copper prices and strong operational execution in Indonesia. Despite higher energy costs due to diesel prices and inflationary pressures on capital projects, the company maintains an optimistic long-term outlook. Management provided aggressive copper sales guidance for 2027 and 2028, driven by the ramp-up of operations in Indonesia. While gold sales fell short of estimates this quarter due to timing issues, a significant increase in gold sales is expected in the fourth quarter.
Tickers: $FCX
Topics: copper production earnings report financial guidance gold sales mining operations
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