Filing Flows › Freeport-McMoRan (FCX) › Guidance & outlook
Freeport-McMoRan (FCX) guidance and outlook
Freeport-McMoRan (FCX) raised some and lowered other parts of its guidance on Oct 27, 2026: Revenue $3.0B for FY2026; Operating cash flow $8.5B for Q4 2026; Capital expenditures $1.2B for Q3 2026; Capital expenditures $4.4B for FY2026. Freeport-McMoRan's 10-Q filed Nov 6, 2026 makes 35 forward-looking statements, 8 of them new and 8 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | $3.0B | lowered |
| Operating cash flow | Q4 2026 | $8.5B | new |
| Capital expenditures | Q3 2026 | $1.2B | new |
| Capital expenditures | FY2026 | $4.4B | raised |
| Revenue | Q3 2025 | $1.0B | new |
| Revenue | FY2026 | $100M | new |
| Operating cash flow | FY2026 | $8.5B | raised |
| Capital expenditures | FY2026 | $1.4B | new |
| Tax rate | FY2026 | 30% | reaffirmed |
| Net income | Q4 2026 | $2.3B | new |
From the earnings release filed Oct 27, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 6, 2026
- Following are our projected consolidated sales volumes for the year 2026:
- updated · Based on achievement of current sales volume and cost estimates and assuming average prices of $4,000 per ounce of gold and $32.00 per pound of molybdenum in fourth-quarter 2026, consolidated unit net cash costs (net of by-product credits and excluding idle facility and restoration costs) for our copper mines are expected to average $1.90 per pound of copper for the year 2026 (including $1.68 per pound of copper…
- updated · Estimated consolidated operating cash flows for the year 2026 include a projected income tax provision of $2.9 billion (refer to “Consolidated Results – Income Taxes” for further discussion of our projected income tax rate for the year 2026).
- updated · We estimate that each $0.05 change in the price realized from the September 30, 2026, recorded provisional price would have an approximate $12 million effect on 2026 revenues ($4 million to 2026 net income attributable to common stock).
- Changes in projected sales volumes, commodity prices, and the relative proportion of jurisdictional income during fourth-quarter 2026 could impact our consolidated effective tax rate for the year 2026.
- updated · Based on achievement of current sales volume and cost estimates and assuming average prices of $6.50 per pound of copper, $4,000 per ounce of gold and $32.00 per pound of molybdenum in fourth-quarter 2026, we estimate that net income attributable to noncontrolling interests will approximate $2.3 billion for the year 2026, which would represent approximately 24% of our consolidated income before income taxes.
- new · In addition, we have developed two customized additives that are being manufactured and are expected to be deployed at multiple stockpiles in the first half of 2027.
- new · We are also advancing projects to use heat sources to increase the temperature of our stockpiles to boost copper recoveries.
- In addition to our innovative leaching initiatives, we are pursuing opportunities to leverage new technologies and analytic tools in automation and operating practices with a goal of improving operating efficiencies and reducing costs and capital intensity of our current operations and future development projects.
- We believe our innovative leaching and technology initiatives will strengthen our operational performance and enhance opportunities for profitable growth.
- We are engaged in various studies associated with potential future expansion projects primarily at our mining operations.
- We are also undertaking optimization projects at our current mining operations to enhance efficiencies and reduce costs.
Freeport-McMoRan's latest quarter
Freeport-McMoRan, Q3 2026: revenue $7.5B (+8% year over year), operating margin 31.2%, net earnings $1.2B, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
Questions
Did Freeport-McMoRan raise or lower its guidance?
Freeport-McMoRan (FCX) raised some and lowered other parts of its guidance on Oct 27, 2026: Revenue $3.0B for FY2026; Operating cash flow $8.5B for Q4 2026; Capital expenditures $1.2B for Q3 2026; Capital expenditures $4.4B for FY2026.
What does Freeport-McMoRan expect?
Based on achievement of current sales volume and cost estimates and assuming average prices of $4,000 per ounce of gold and $32.00 per pound of molybdenum in fourth-quarter 2026, consolidated unit net cash costs (net of by-product credits and excluding idle facility and restoration costs) for our copper mines are expected to average $1.90 per pound of copper for the year 2026 (including $1.68 per pound of copper… Estimated consolidated operating cash flows for the year 2026 include a projected income tax provision of $2.9 billion (refer to “Consolidated Results – Income Taxes” for further disc
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.