Freeport-McMoRan reports USD 1.17 billion profit: what it means for Freeport-McMoRan stock

Published on 10/28/2026 at 11:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue reached USD 7.55 billion in the third quarter, up from USD 6.97 billion. Freeport-McMoRan stock costs EUR 59.27 on October 28, 2026.

Quarterly results and operating recovery

Freeport-McMoRan reported USD 7.55 billion in revenue for the third quarter on October 27, 2026.
Copper sales reached 749 million pounds, while Grasberg operated at 67 percent of capacity.
Freeport-McMoRan stock was trading at EUR 59.27 at 11:12 a.m. CEST at Lang & Schwarz on October 28, 2026.

Freeport-McMoRan, US35671D8570, Illustration mit AI erstellt.

Freeport-McMoRan reported USD 1.174 billion in net income attributable to common stock for the third quarter of 2026, up from USD 674 million a year earlier. The company released the figures on October 27, 2026, in a filing that also detailed the recovery at its Grasberg operation in Indonesia, giving Freeport-McMoRan stock a new earnings benchmark.

Revenue rose to USD 7.546 billion from USD 6.972 billion in the third quarter of 2025, an increase of 8.23 percent. Operating cash flow reached USD 1.981 billion, compared with USD 1.689 billion a year earlier. These figures and the related operating update were published in the SEC filing for the company dated October 27, 2026.

What does the profit mean?

The earnings improvement came as the average realized copper price reached USD 6.54 per pound, up from USD 4.68 in the third quarter of 2025. Consolidated copper production fell to 832 million pounds from 912 million pounds, while sales declined to 749 million pounds from 977 million pounds.

Freeport said the Grasberg Block Cave ramp-up averaged 67 percent of capacity during the third quarter. The company expects the operation to reach 80 percent of capacity in mid-2027 and approach full capacity by the end of 2027. PTFI's smelter resumed operations in late August 2026.

Recovery carries operational costs

The recovery remains uneven. Consolidated unit net cash costs rose to USD 2.07 per pound of copper from USD 1.40 a year earlier, while idle facility, direct recovery and restoration costs totaled USD 244 million in the third quarter. Freeport also expects 2026 operating cash flow of USD 8.5 billion and capital expenditures of USD 4.4 billion.

For investors, the key tension is clear: higher copper prices supported profit and cash generation, but lower sales volumes and elevated costs show why the Grasberg ramp-up remains central to the earnings outlook.

Stock trades at EUR 59.27

Freeport-McMoRan stock was trading at EUR 59.27 at Lang & Schwarz on October 28, 2026, at 11:12 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Freeport-McMoRan stock.