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Copper and gold prices sat at historically elevated levels, lifting realizations across the board. The report also showed the company continues to move toward full production at its Grasberg mine in Indonesia.
Even as gold prices suffered their steepest quarterly decline in more than 13 years, the mining sector continues to set a brisk pace as earnings season kicks off with the world's largest copper producer.
Freeport-McMoRan NYSE: FCX executives said the copper producer's second-quarter 2026 results reflected “progress” across its major operating regions, citing better-than-forecast copper sales and unit cash costs, a continuing recovery at the Grasberg Block Cave mine in Indonesia and stronger performance from U.S. operations.
Freeport-McMoRan Inc (NYSE:FCX, XETRA:FPMB) reported stronger-than-expected second quarter 2026 results on Thursday, with earnings and revenue topping Wall Street expectations, although shares edged about 2% lower as investors weighed a slightly reduced near-term copper sales outlook. The company reported adjusted earnings per share of $0.74, ahead of analyst estimates of $0.62, while revenue came in at $7.03 billion, exceeding consensus expectations of $6.71 billion.
Freeport-McMoRan beat earnings and revenue estimates despite lower copper and gold volumes, as higher realized metal prices helped offset production challenges.
Although the revenue and EPS for Freeport-McMoRan (FCX) give a sense of how its business performed in the quarter ended June 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Freeport-McMoRan (FCX) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.54 per share a year ago.
FCX heads into Q2 earnings with favorable copper price support offset by lower volumes and higher costs.
Get a deeper insight into the potential performance of Freeport-McMoRan (FCX) for the quarter ended June 2026 by going beyond Wall Street's top-and-bottom-line estimates and examining the estimates for some of its key metrics.
Freeport-McMoRan (FCX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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