FREEPORT-MCMORAN INC
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FCX Q2 2025 request
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| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Revenue | 7,582 | 6,624 | +14.5% |
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| Atlantic Copper Smelting and Refining Segment · Intersegment Elimination | 3 | 2 | +50.0% |
| Atlantic Copper Smelting and Refining Segment · Operating Segments | 815 | 898 | -9.2% |
| Cerro Verde · South America | 193 | 182 | +6.0% |
| Cerro Verde · South America | 836 | 1,075 | -22.2% |
| Corporate And Eliminations · Intersegment Elimination | -2,019 | -1,929 | -4.7% |
| Grasberg Segment · ID | -2 | 83 | -102.4% |
| Grasberg Segment · ID | 3,419 | 2,185 | +56.5% |
| Molybdenum · Intersegment Elimination | 180 | 138 | +30.4% |
| Morenci · North America | 559 | 587 | -4.8% |
| Morenci · North America | 63 | 13 | +384.6% |
| Other Individually Immaterial Operating Segments · North America | 1,028 | 926 | +11.0% |
| Other Individually Immaterial Operating Segments · North America | 64 | 10 | +540.0% |
| Other Individually Immaterial Operating Segments · South America | 183 | 254 | -28.0% |
| Other Individually Immaterial Operating Segments · South America | 49 | — | — |
| Rod and Refining Segment · Intersegment Elimination | 9 | 11 | -18.2% |
| Rod and Refining Segment · Operating Segments | 1,692 | 1,693 | -0.1% |
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| North America · Intersegment Elimination | 1,587 | 1,513 | +4.9% |
| North America · Operating Segments | 127 | 23 | +452.2% |
| South America · Intersegment Elimination | 242 | 182 | +33.0% |
| South America · Operating Segments | 1,019 | 1,329 | -23.3% |
Show Consolidation Items breakouts |
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| Corporate And Eliminations | 510 | 496 | +2.8% |
| Direct Operating Costs | 4,282 | 3,875 | +10.5% |
| Cost Depreciation Amortization And Depletion | 668 | 509 | +31.2% |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 7 | 7 | 0.0% |
| Cerro Verde · South America | 94 | 97 | -3.1% |
| Grasberg Segment · ID | 389 | 248 | +56.9% |
| Molybdenum · Operating Segments | 26 | 16 | +62.5% |
| Morenci · North America | 46 | 45 | +2.2% |
| Other Individually Immaterial Operating Segments · North America | 72 | 61 | +18.0% |
| Other Individually Immaterial Operating Segments · South America | 19 | 17 | +11.8% |
| Rod and Refining Segment · Operating Segments | 1 | 1 | 0.0% |
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| North America · Operating Segments | 118 | 106 | +11.3% |
| South America · Operating Segments | 113 | 114 | -0.9% |
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| Corporate And Eliminations | 14 | 17 | -17.6% |
| Cost of Revenue | 4,950 | 4,384 | +12.9% |
| Selling, General & Administrative | 127 | 123 | +3.3% |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 7 | 6 | +16.7% |
| Cerro Verde · South America | 1 | 2 | -50.0% |
| Grasberg Segment · ID | 35 | 30 | +16.7% |
| Morenci · North America | 1 | 1 | 0.0% |
| Other Individually Immaterial Operating Segments · South America | 1 | — | — |
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| North America · Operating Segments | 1 | 1 | 0.0% |
| South America · Operating Segments | 2 | 2 | 0.0% |
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| Corporate And Eliminations | 82 | 84 | -2.4% |
| Exploration Expense | 46 | 40 | +15.0% |
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| Cerro Verde · South America | 4 | 3 | +33.3% |
| Grasberg Segment · ID | 1 | 4 | -75.0% |
| Molybdenum · Operating Segments | 1 | — | — |
| Morenci · North America | 8 | 5 | +60.0% |
| Other Individually Immaterial Operating Segments · North America | 5 | 9 | -44.4% |
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| North America · Operating Segments | 13 | 14 | -7.1% |
| South America · Operating Segments | 4 | 5 | -20.0% |
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| Corporate And Eliminations | 27 | 17 | +58.8% |
| Environmental Remediation Expense | 27 | 28 | -3.6% |
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| Corporate And Eliminations | 27 | 28 | -3.6% |
| Total Costs & Expenses | 5,150 | 4,575 | +12.6% |
| Operating Income | 2,432 | 2,049 | +18.7% |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 13 | 28 | -53.6% |
| Cerro Verde · South America | 340 | 476 | -28.6% |
| Grasberg Segment · ID | 1,868 | 1,314 | +42.2% |
| Molybdenum · Operating Segments | 25 | -12 | +308.3% |
| Morenci · North America | 132 | 111 | +18.9% |
| Other Individually Immaterial Operating Segments · North America | 236 | 153 | +54.2% |
| Other Individually Immaterial Operating Segments · South America | 34 | 54 | -37.0% |
| Rod and Refining Segment · Operating Segments | 7 | 11 | -36.4% |
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| North America · Operating Segments | 368 | 264 | +39.4% |
| South America · Operating Segments | 374 | 530 | -29.4% |
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| Corporate And Eliminations | -223 | -86 | -159.3% |
| Interest Income Expense Net | -82 | -88 | +6.8% |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | -7 | -8 | +12.5% |
| Cerro Verde · South America | -4 | -5 | +20.0% |
| Grasberg Segment · ID | -16 | -6 | -166.7% |
| Other Individually Immaterial Operating Segments · North America | -1 | -1 | 0.0% |
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| North America · Operating Segments | -1 | -1 | 0.0% |
| South America · Operating Segments | -4 | -5 | +20.0% |
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| Corporate And Eliminations | -54 | -68 | +20.6% |
| Other Non-Operating Income (Expense) | 41 | 69 | -40.6% |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | -14 | 2 | -800.0% |
| Cerro Verde · South America | 20 | 5 | +300.0% |
| Grasberg Segment · ID | 15 | 30 | -50.0% |
| Molybdenum · Operating Segments | -1 | — | — |
| Morenci · North America | -1 | — | — |
| Other Individually Immaterial Operating Segments · North America | 1 | 1 | 0.0% |
| Other Individually Immaterial Operating Segments · South America | 2 | — | — |
| Rod and Refining Segment · Operating Segments | -1 | — | — |
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| South America · Operating Segments | 22 | 5 | +340.0% |
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| Corporate And Eliminations | 20 | 31 | -35.5% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | 2,391 | 2,030 | +17.8% |
| Income Tax Expense (Benefit) | -850 | -754 | -12.7% |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | -2 | -1 | -100.0% |
| Cerro Verde · South America | -139 | -191 | +27.2% |
| Grasberg Segment · ID | -677 | -490 | -38.2% |
| Other Individually Immaterial Operating Segments · South America | -12 | -23 | +47.8% |
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| South America · Operating Segments | -151 | -214 | +29.4% |
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| Corporate And Eliminations | -20 | -49 | +59.2% |
| Income Loss From Equity Method Investments | 6 | 4 | +50.0% |
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| Grasberg Segment · ID | 6 | 3 | +100.0% |
| Net Income | 1,547 | 1,280 | +20.9% |
| Net Income Loss Attributable To Noncontrolling Interest | 775 | 664 | +16.7% |
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| Cerro Verde · South America | 105 | 142 | -26.1% |
| Grasberg Segment · ID | 648 | 463 | +40.0% |
| Other Individually Immaterial Operating Segments · South America | 4 | 22 | -81.8% |
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| South America · Operating Segments | 109 | 164 | -33.5% |
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| Noncontrolling Interest | 775 | 664 | +16.7% |
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| Corporate And Eliminations | 18 | 37 | -51.4% |
| Net Income Loss Available To Common Stockholders Basic | 772 | 616 | +25.3% |
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| Parent | 772 | 616 | +25.3% |
| Retained Earnings | 772 | 616 | +25.3% |
| EPS (Basic) | 0.53 | 0.42 | +26.2% |
| EPS (Diluted) | 0.53 | 0.42 | +26.2% |
| Wtd Avg Shares (Basic) | 1,437 | 1,438 | -0.1% |
| Wtd Avg Shares (Diluted) | 1,443 | 1,445 | -0.1% |
| Common Stock Dividends Per Share Declared | 0.15 | 0.15 | 0.0% |
| Revenue | 7,526 | 6,398 | +17.6% |
| Comprehensive Income | 774 | 616 | +25.6% |
| Revenue From Contract With Customer Including Assessed Tax (Q) | — | — | — |
Show Product Lines breakouts |
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| Copper Cathode | 2,173 | 2,273 | -4.4% |
| Copper In Concentrates | 2,023 | 1,596 | +26.8% |
| Gold | 1,833 | 935 | +96.0% |
| Molybdenum | 479 | 472 | +1.5% |
| Purchased Copper | 173 | 262 | -34.0% |
| Refined Copper Products | 969 | 974 | -0.5% |
| Silver And Other | 173 | 144 | +20.1% |
Balance Sheet
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 4,490 | 5,273 | -14.8% |
| Restricted Cash And Cash Equivalents At Carrying Value | 230 | 1,030 | -77.7% |
| Accounts Receivable | 941 | 1,128 | -16.6% |
| Value Added Tax Receivable Current | 474 | — | — |
| Product | 2,961 | 2,755 | +7.5% |
| Inventory Raw Materials And Supplies Net Of Reserves | 2,516 | 2,283 | +10.2% |
| Inventory Milland Stockpileson Leach Pads Current | 1,477 | 1,436 | +2.9% |
| Other Assets Current | 547 | — | — |
| Total Current Assets | 13,636 | 14,722 | -7.4% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 39,835 | 36,784 | +8.3% |
| Inventory Noncurrent | 1,122 | 1,286 | -12.8% |
| Other Non-Current Assets | 1,899 | — | — |
| Total Assets | 56,492 | 54,635 | +3.4% |
Show Business Segments breakouts |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 1,508 | 1,410 | +7.0% |
| Cerro Verde · South America | 8,385 | 8,368 | +0.2% |
| Grasberg Segment · ID | 27,781 | 26,501 | +4.8% |
| Molybdenum · Operating Segments | 2,027 | 1,915 | +5.8% |
| Morenci · North America | 3,337 | 3,182 | +4.9% |
| Other Individually Immaterial Operating Segments · North America | 7,253 | 6,508 | +11.4% |
| Other Individually Immaterial Operating Segments · South America | 2,091 | 1,988 | +5.2% |
| Rod and Refining Segment · Operating Segments | 432 | 273 | +58.2% |
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| North America · Operating Segments | 10,590 | 9,690 | +9.3% |
| South America · Operating Segments | 10,476 | 10,356 | +1.2% |
Show Consolidation Items breakouts |
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| Corporate And Eliminations | 3,678 | 4,490 | -18.1% |
| Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current | 4,288 | 3,910 | +9.7% |
| Accrued Income Taxes Current | 389 | 898 | -56.7% |
| Current Portion of Long-Term Debt | 338 | 768 | -56.0% |
| Environmental And Asset Retirement Obligations Current | 298 | 342 | -12.9% |
| Dividends Payable Current | 218 | 218 | 0.0% |
| Total Current Liabilities | 5,531 | 6,136 | -9.9% |
| Non-Current Liabilities | |||
| Long-Term Debt | 8,913 | 8,658 | +2.9% |
| Environmental And Asset Retirement Obligations Noncurrent | 5,463 | 5,083 | +7.5% |
| Deferred Tax Liabilities | 4,410 | 4,491 | -1.8% |
| Other Non-Current Liabilities | 2,179 | 1,581 | +37.8% |
| Total Liabilities | 26,496 | 25,949 | +2.1% |
| Long-Term Debt (Q) | — | — | — |
Show Legal Entity breakouts |
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| FCX · Senior Notes | 5,284 | 6,008 | -12.1% |
| Freeport McMoRan Corporation · Subordinated Debt | 352 | 353 | -0.3% |
| PT-FI · Senior Notes | 2,984 | 2,981 | +0.1% |
Show Long-Term Debt Type breakouts |
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| Line Of Credit | 358 | — | — |
| Other | 23 | 84 | -72.6% |
| Stockholders' Equity | |||
| Common Stock | 163 | 162 | +0.6% |
| Additional Paid-In Capital | 23,642 | 24,321 | -2.8% |
| Retained Earnings | 738 | -970 | +176.1% |
| Accumulated Other Comprehensive Income | -311 | -274 | -13.5% |
| Treasury Stock Value | -6,024 | -5,835 | -3.2% |
| Total Stockholders' Equity | 18,208 | 17,404 | +4.6% |
| Minority Interest | 11,788 | 11,282 | +4.5% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 29,996 | 28,686 | +4.6% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | -311 | -274 | -13.5% |
| Additional Paid In Capital | 23,642 | 24,321 | -2.8% |
| Common Stock | 163 | 162 | +0.6% |
| Noncontrolling Interest | 11,788 | 11,282 | +4.5% |
| Parent | 18,208 | 17,404 | +4.6% |
| Retained Earnings | 738 | -970 | +176.1% |
| Treasury Stock Common | -6,024 | -5,835 | -3.2% |
| Total Liabilities & Equity | 56,492 | 54,635 | +3.4% |
Cash Flow Statement
| Metric | YTD Q2 2025 | YTD Q2 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 1,134 | 1,104 | +2.7% |
| Increase Decreasein Environmental And Asset Retirement Obligations | 116 | 300 | -61.3% |
| Paymentsfor Environmental Liabilities And Asset Retirement Obligations | -113 | -97 | -16.5% |
| Stock-Based Compensation | 74 | 77 | -3.9% |
| Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash | 29 | 16 | +81.2% |
| Pension And Other Postretirement Benefit Contributions | -9 | -38 | +76.3% |
| Deferred Income Taxes And Tax Credits | 34 | 37 | -8.1% |
| Social Investment Programs | 50 | 51 | -2.0% |
| Payments For Social Investment Programs | -41 | -37 | -10.8% |
| Other Operating Activities Cash Flow Statement | -19 | 21 | -190.5% |
| Increase Decrease In Receivables | -320 | 92 | -447.8% |
| Change in Inventory | -62 | -341 | +81.8% |
| Increase Decrease In Other Current Assets | 16 | 21 | -23.8% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | 428 | 103 | +315.5% |
| Increase Decrease In Accrued Taxes Payable | -404 | 101 | -500.0% |
| Net Cash from Operations | 3,253 | 3,852 | -15.6% |
| Investing Activities | |||
| Payments To Acquire Productive Assets | -2,433 | -2,370 | -2.7% |
Show Business Segments breakouts |
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| All Other Segments | -238 | -165 | -44.2% |
| Atlantic Copper Smelting and Refining Segment · Operating Segments | -88 | -60 | -46.7% |
| Cerro Verde · South America | -152 | -127 | -19.7% |
| Grasberg Segment · ID | -1,444 | -1,490 | +3.1% |
| Indonesia Segment | -1,444 | -1,490 | +3.1% |
| Molybdenum | -46 | -63 | +27.0% |
| Molybdenum · Operating Segments | -46 | -63 | +27.0% |
| Morenci · North America | -129 | -91 | -41.8% |
| North America Copper Mines Segment | -528 | -480 | -10.0% |
| Other Individually Immaterial Operating Segments · North America | -399 | -389 | -2.6% |
| Other Individually Immaterial Operating Segments · South America | -25 | -45 | +44.4% |
| Rod and Refining Segment · Operating Segments | -43 | -16 | -168.8% |
| South America Mines Segment | -177 | -172 | -2.9% |
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| North America · Operating Segments | -528 | -480 | -10.0% |
| South America · Operating Segments | -177 | -172 | -2.9% |
Show Consolidation Items breakouts |
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| Corporate And Eliminations | -107 | -89 | -20.2% |
| Other Investing Activities | -1 | -13 | +92.3% |
| Net Cash from Investing | -2,432 | -2,385 | -2.0% |
| Financing Activities | |||
| Proceeds From Issuance Of Debt | 1,630 | 1,281 | +27.2% |
| Debt Repayments | -1,338 | -1,281 | -4.4% |
| Finance Lease Principal Payments | -15 | -1 | -1400.0% |
| Payments Of Dividends Common Stock | -433 | -433 | 0.0% |
| Payments Of Dividends Minority Interest | -625 | -685 | +8.8% |
| Share Repurchases | -107 | — | — |
| Proceeds From Stock Options Exercised | 2 | 26 | -92.3% |
| Tax Withholding for Share Compensation | -22 | -35 | +37.1% |
| Net Cash from Financing | -908 | -1,128 | +19.5% |
| Other Cash Flow | |||
| Net Change in Cash | -87 | 339 | -125.7% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 4,824 | 6,402 | -24.6% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.