Freeport-McMoRan (FCX) reported third-quarter 2026 adjusted earnings of 88 cents per share, up 76% from 50 cents a year earlier and 10% above the Zacks Consensus Estimate of 80 cents. Revenue rose 8.2% year over year to $7.55 billion, 6.5% above the Zacks Consensus Estimate of $7.09 billion. Higher realized copper and molybdenum prices supported results despite lower copper and gold sales volumes, with copper sales down 23.3% to 749 million pounds, mainly due to lower operating rates at PT Freeport Indonesia (PTFI) during the ramp-up of the Grasberg Block Cave mine. For 2026, the company projects sales of roughly 3 billion pounds of copper, 649,000 ounces of gold and 93 million pounds of molybdenum.
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