Freeport-McMoRan reported third-quarter revenue of $7.55 billion, up 8.2% from a year earlier and above market expectations, as higher copper and molybdenum prices lifted earnings; operating income climbed 19% to $2.35 billion. Net income attributable to common stock rose to $1.17 billion ($0.81 a share) from $674 million ($0.46 a share), while adjusted net income, excluding after-tax charges related to idle facilities and restoration at PT Freeport Indonesia, reached $1.3 billion ($0.88 a share). The company produced 832 million pounds of copper and 234,000 ounces of gold, with average realised prices of $6.54 a pound for copper and $4,273 an ounce for gold, and average net cash costs of $2.07 a pound of copper. Operating cash flow rose to $1.98 billion from $1.69 billion, while capital expenditure increased to $1.16 billion, and the company ended September with $4.34 billion in cash and $9.4 billion in total debt. Freeport expects full-year 2026 copper sales of about 3 billion pounds and gold sales of 649,000 ounces.
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