Freeport-McMoRan Inc. (FCX) released its third-quarter and nine-month 2026 financial results on October 27, 2026. The company reported net income attributable to common stock of $1.2 billion, or $0.81 per share, for the three months ended September 30, 2026. Adjusted net income, which excludes after-tax net charges totaling $101 million primarily related to idle facility and restoration costs associated with an incident at PT Freeport Indonesia’s (PTFI) operations, was $1.3 billion, or $0.88 per share.
Consolidated production for the quarter totaled 832 million pounds of copper, 234 thousand ounces of gold, and 22 million pounds of molybdenum. Sales volumes were 749 million pounds of copper, 105 thousand ounces of gold, and 22 million pounds of molybdenum. Average realized prices were $6.54 per pound for copper, $4,273 per ounce for gold, and $32.46 per pound for molybdenum.
Operating cash flows for the third quarter totaled $2.0 billion, net of $0.4 billion for working capital and other uses. Capital expenditures for the quarter were $1.2 billion, including $0.7 billion for major mining projects. At September 30, 2026, the company reported consolidated debt of $9.4 billion and cash and cash equivalents of $4.3 billion, resulting in net debt of $1.8 billion, excluding $3.2 billion of debt for PTFI’s downstream processing facilities.
FCX anticipates consolidated sales of approximately 3.0 billion pounds of copper, 649 thousand ounces of gold, and 93 million pounds of molybdenum for the full year 2026. The company also announced the repurchase of 1.4 million shares of its common stock during the third quarter for a total cost of $102 million.
