Filing Flows

Filing Flows › Materials › Freeport-McMoRan (FCX)

Freeport-McMoRan (FCX) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Freeport-McMoRan (FCX) Q3 2026 earnings results →

Q3 2026 Revenue up 8% year over year to $7.5B · 16¢ of every $1 of revenue kept as net profit · operating margin 31.2%

Freeport-McMoRan made $7.5B in Q3 2026 (+8% Y/Y): Copper Cathode $2.9B, Refined Copper Products $1.7B, Copper in Concentrates $1.2B. Operating margin 31.2%, net earnings $1.2B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$7.5B
Year over year+8%
Operating margin31.2%
Net earnings$1.2B
Operating cash flow$2.0B

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

Freeport-McMoRan Q3 2026 revenue breakdown: Sankey diagram of revenue (Copper Cathode, Refined Copper Products, Copper in Concentrates, Molybdenum), costs, profit and cash flow
Freeport-McMoRan Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
Embed this chart on your site

Free to use with the credit line. Click a box to select the code.

What changed this quarter

Revenue was $7.5B in Q3 2026, up 8% year over year and up 7% from the previous quarter. Copper Cathode was the largest line at 39% of revenue. Copper Cathode added $1.1B year over year (up 62%), 197% of the total change. Gold declined 56%.

Operating profit was $2.4B, a 31.2% margin (up 2.9 points year over year). Of the extra revenue versus Q3 2025, 66% reached operating profit, above the 28% margin then. Total costs grew 4% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+62%). Net earnings were $1.2B, up 74% year over year. The effective tax rate was 26.5%.

Operating cash flow was $2.0B (up 19% year over year), 117% of net income including minority interests. Non-cash charges added back $0.52B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.26B.

Quarterly history

Freeport-McMoRan revenue by quarterFreeport-McMoRan revenue by quarter$5.7BQ1 2025$7.6BQ2 2025$7.0BQ3 2025$5.6BQ4 2025$6.2BQ1 2026$7.0BQ2 2026$7.5BQ3 2026
Freeport-McMoRan net earnings by quarterFreeport-McMoRan net earnings by quarter$352MQ1 2025$772MQ2 2025$674MQ3 2025$406MQ4 2025$881MQ1 2026$984MQ2 2026$1.2BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 6, 2026$7.5B+8%31.2%$1.2B$2.0B
Q2 202610-QAug 6, 2026$7.0B-7%28.5%$984M$2.0B
Q1 202610-QMay 8, 2026$6.2B+9%34.3%$881M$1.5B
Q4 202510-KFeb 13, 2026$5.6B-2%14.4%$406M$693M
Q3 202510-QNov 6, 2025$7.0B+3%28.3%$674M$1.7B
Q2 202510-QAug 8, 2025$7.6B+14%32.1%$772M$2.2B
Q1 202510-QMay 8, 2025$5.7B-9%22.7%$352M$1.1B

Charts

Freeport-McMoRan: revenue growth, year over year and quarter over quarterFreeport-McMoRan: revenue growth, year over year and quarter over quarterY/YQ/Q-9%Q1 2025+14%+32%Q2 2025+3%-8%Q3 2025-2%-19%Q4 2025+9%+11%Q1 2026-7%+13%Q2 2026+8%+7%Q3 2026
Latest (Q3 2026): Y/Y +8%, Q/Q +7%.
Freeport-McMoRan: where the cash came from (+) and went (−), TTM to Q3 2026Freeport-McMoRan: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$6.2BOther investing−$4.3BDividends−$866MPartners−$625MBuybacks−$305MCash drawn (+) / kept (−)−$106MNet borrowing (+) / repaid (−)$51.0MTaxes on employees’ shares−$45.0MShares issued$33.0MOther financing−$11.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Freeport-McMoRan: profit against cash, quarter by quarterFreeport-McMoRan: profit against cash, quarter by quarterNet incomeOperating cash flow$721M$1.4BQ4 2024$793M$1.1BQ1 2025$1.5B$2.2BQ2 2025$1.2B$1.7BQ3 2025$565M$693MQ4 2025$1.4B$1.5BQ1 2026$1.4B$2.0BQ2 2026$1.7B$2.0BQ3 2026
Latest (Q3 2026): Net income $1.7B, Operating cash flow $2.0B.
Freeport-McMoRan: diluted shares by fiscal yearFreeport-McMoRan: diluted shares by fiscal year1.46BFY20201.48BFY20211.45BFY20221.44BFY20231.45BFY20241.44BFY2025
-1.2% since FY2020: buybacks shrank the count.
Freeport-McMoRan: long-term debt falling due (FY2025)Freeport-McMoRan: long-term debt falling due (FY2025)$500M2026$1.3B2027$1.2B2028$500M2029$1.0B2030$4.9BLater
Cash $3.8B, short-term investments —, long-term debt $9.4B at 2025-12-31.
Freeport-McMoRan in its industry: growth against margin (8 companies, SIC 1000)Freeport-McMoRan in its industry: growth against margin (8 companies, SIC 1000)revenue growth, year over year →↑ operating marginmedian +30%median -10%CLFSCCOMPDYNRALOYIEMINRFCX (+8%, 31%)
Metal Mining; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

Customers and suppliers named in filings

Sells to

About Freeport-McMoRan

Cerro Verde. In May 2026, FCX purchased 2.0 million shares of Cerro Verde common stock for $ 107 million, increasing FCX’s ownership interest in Cerro Verde from 55.08 % to 55.66 %. As a result of the transaction, the carrying value of Cerro Verde’s noncontrolling interest was reduced by $ 36 million, and $ 73 million was recorded to reduce capital in excess of par value, including a $ 2 million deferred tax impact. Subsequent Events. FCX evaluated events after September 30, 2026, and through the date the consolidated financial statements were issued and determined that any events and transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these consolidated financial statements.

In its own words, from its 10-Q, filed Nov 6, 2026.

Freeport-McMoRan against its Metal Mining peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +30%. Operating margin: 31.2% against the peers' median -14.9%.

CompanyQuarterRevenueY/YOp. margin
FCX Freeport-McMoRanQ3 2026$7.5B+8%31.2%
CLF Cleveland-CliffsQ3 2026$5.6B+18%5.5%
SCCO Southern CopperQ3 2026$4.7B+39%59.9%
MP MP MaterialsQ3 2026$148M+176%-14.9%
DYNR DynaresourceQ2 2026$11.4M-28%-10.1%
USAR USA Rare EarthQ2 2026$5.8M—-795.6%
ALOY RealloysQ2 2026$804K+55%n/m
IE Ivanhoe ElectricQ3 2026$708K+30%n/m
MINR Minerva GoldQ1 FY27$9K-25%-24.7%

Source: Freeport-McMoRan 10-Q on SEC EDGAR · CIK 831259 · Metal Mining

Guidance and outlook

Freeport-McMoRan Tax rate: guidance against what was reportedFreeport-McMoRan Tax rate: guidance against what was reportedguided rangereported (above / within / below)Q4 2024FY202436.4%FY202534.9%FY2026
Met or beat 1 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Freeport-McMoRan: what its forward-looking statements are about (10-Q filed 2026-11-06)Freeport-McMoRan: what its forward-looking statements are about (10-Q filed 2026-11-06)Demand9Costs8Other8Financing3Buybacks & dividends3Tax1Supply chain1Margins1Capital spending1
35 statements; tone +0.17 (−1 all cautious, +1 all confident); 5 hedged.
Freeport-McMoRan: outlook statements against the filing beforeFreeport-McMoRan: outlook statements against the filing beforeNew8Updated10Dropped8Confident8Cautious2

13F: who owns FCX and who is buying

Largest holders of FCX (13F)Largest holders of FCX (13F)BlackRock$7.7BVanguard Group$6.6BVanguard Capital Management LLC$5.9BFisher Asset Management, LLC$4.2BState Street$4.2BCapital Research Global Investors$2.6BFranklin Resources$2.4BBank of America$2.3BGeode Capital Management, LLC$2.0BMorgan Stanley$1.6B
Funds' net buying of FCX by quarter (13F)Funds' net buying of FCX by quarter (13F)−$279M2024-09−$1.2B2024-12$334M2025-03$474M2025-06−$1.1B2025-09$2.0B2025-12−$1.8B2026-03$251M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FCX

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

Compare FCX with

中文版：自由港麦克莫兰（FCX）财报

Español · Français