FCX · 10-Q · 2026Q2

FREEPORT-MCMORAN INC

Filed 2026-08-06 · Energy · View original filing on EDGAR

Ranked Events

• Capital Expenditure OutlookImportance 75 · Surprise 60
  Based on current sales volumes, cost estimates, metal prices and planned capital expenditures, Freeport-McMoRan projects approximately $8.3 billion of consolidated operating cash flows and $4.3 billion of consolidated…
• Guidance and OutlookImportance 75 · Surprise 60
  FCX projects 2026 consolidated sales of 3.057 billion pounds of copper, with 750 million pounds expected in the third quarter, and anticipates higher second-half copper sales as Grasberg ramps up and U.S. leaching…
• PTFI Mud Rush Restoration and Ramp-UpImportance 71 · Surprise 60
  PTFI’s Grasberg Block Cave underground mine in Indonesia continued to incur costs related to the September 2025 external mud rush incident during the six months ended June 30, 2026. The company recorded $172 million of…
• Indonesia Operations DisruptionImportance 71 · Surprise 60
  PTFI’s Grasberg Block Cave underground mine in Indonesia remained affected by the September 2025 external mud rush incident. For the six months ended June 30, 2026, the incident generated $172 million of idle facility…
• Concentrate Supply DiversificationImportance 59 · Surprise 48
  Atlantic Copper, FCX’s wholly owned smelter and refinery in Huelva, Spain, sourced 82% of its copper concentrate from third parties during the first six months of 2026. The remaining 18% came from FCX’s South America…
• Kucing Liar DevelopmentImportance 58 · Surprise 42
  PTFI is developing the Kucing Liar deposit in Indonesia’s Grasberg minerals district, with ramp-up planned to begin around 2030 and design capacity of approximately 130,000 metric tons of ore per day. At June 30, 2026,…
• Grasberg Ramp-Up ImpactImportance 58 · Surprise 42
  PT Freeport Indonesia continued the phased ramp-up of the Grasberg Block Cave underground mine after the September 2025 external mud rush incident. Lower operating rates at Grasberg reduced consolidated copper and gold…
• Mud Rush Insurance SettlementImportance 55 · Surprise 60
  PT Freeport Indonesia recognized a $0.7 billion gain in the first quarter of 2026 from insurance coverage for the September 2025 external mud rush incident. The settlement produced a $0.2 billion after-tax and…
• Income Tax Rate ChangesImportance 54 · Surprise 40
  FCX’s consolidated effective tax rate declined to 30% in the first six months of 2026 from 37% in the comparable 2025 period. The consolidated income tax provision decreased to $1.2 billion from $1.4 billion despite…
• Operating Income and MarginsImportance 54 · Surprise 40
  First-half operating income increased 11% to $4.1 billion from $3.7 billion, despite flat revenue, while second-quarter operating income declined to $2.0 billion from $2.4 billion. Consolidated production and delivery…
• South America Margin ImprovementImportance 52 · Surprise 56
  South America operations’ six-month copper revenue per pound increased to $6.03 in 2026 from $4.39 in 2025, a 37.4% increase. Gross profit per pound increased to $3.18 from $1.58, more than doubling year over year.…
• Leaching Technology InitiativesImportance 52 · Surprise 42
  FCX is applying new leaching technologies, operational enhancements and data analytics across its U.S. and South America operations to increase copper recoveries and improve cost competitiveness. Incremental copper…
• Noncontrolling Interest DistributionsImportance 51 · Surprise 38
  Cash dividends and distributions paid to noncontrolling interests at international operations totaled $0.4 billion in the first six months of 2026. The payments related to Cerro Verde and compared with $0.6 billion in…
• Revenue Performance and MixImportance 49 · Surprise 32
  Consolidated revenues decreased 7% year over year to $7.0 billion in second-quarter 2026 from $7.6 billion, while first-half revenues were essentially flat at $13.3 billion. Second-quarter copper, gold and molybdenum…
• U.S. Copper Margin ImprovementImportance 47 · Surprise 48
  U.S. copper mines’ six-month copper revenue per pound increased to $6.05 in 2026 from $4.71 in 2025, a 28.5% increase. Gross profit per pound increased to $2.51 from $1.11, while unit net cash costs declined to $2.93…
• Bagdad Expansion OpportunityImportance 46 · Surprise 42
  Freeport-McMoRan is evaluating an expansion of its Bagdad operation in northwest Arizona that would more than double concentrator capacity and add 200 to 250 million pounds of copper and 10 to 12 million pounds of…
• El Abra Expansion ProjectImportance 46 · Surprise 42
  Freeport-McMoRan is advancing a major mill expansion at El Abra in Chile that could add more than 700 million pounds of annual copper production. The proposed facility would be similar to the large-scale concentrator…
• Indonesia Mining Rights ExtensionImportance 44 · Surprise 60
  In February 2026, Freeport-McMoRan and PTFI entered into a memorandum of understanding with the Indonesia government to extend Grasberg operating rights beyond their current 2041 expiration. Under the proposed terms,…
• Trade Policy and TariffsImportance 44 · Surprise 60
  Effective August 2025, a 50% U.S. Section 232 tariff applies to imports of semi-finished copper and copper-intensive derivative products, while refined copper cathodes, concentrates and scrap remain exempt. The U.S.…
• Liquidity and Debt PositionImportance 44 · Surprise 24
  Freeport-McMoRan generated $3.5 billion of operating cash flow in the first six months of 2026, including $0.7 billion of pre-tax insurance proceeds related to the Grasberg mud rush incident. At June 30, 2026,…

Revenue by Product (in millions)

Revenue by Geography (in millions)