FREEPORT-MCMORAN INC
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FCX Q1 2026 request
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue | 6,234 | 5,728 | +8.8% |
Show Business Segments breakouts |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 3 | 3 | 0.0% |
| Atlantic Copper Smelting and Refining Segment · Operating Segments | 966 | 752 | +28.5% |
| Atlantic Copper Smelting and Refining Segment · Operating Segments | 969 | 755 | +28.3% |
| Cerro Verde · Operating Segments | 163 | 174 | -6.3% |
| Cerro Verde · Operating Segments | 1,218 | 917 | +32.8% |
| Cerro Verde · Operating Segments | 1,381 | 1,091 | +26.6% |
| Grasberg Segment · Operating Segments | 1,072 | 1,564 | -31.5% |
| Grasberg Segment · Operating Segments | 1,072 | 1,570 | -31.7% |
| Morenci · Operating Segments | 764 | 494 | +54.7% |
| Morenci · Operating Segments | 12 | 83 | -85.5% |
| Morenci · Operating Segments | 776 | 577 | +34.5% |
| Rod and Refining Segment · Operating Segments | 10 | 8 | +25.0% |
| Rod and Refining Segment · Operating Segments | 2,052 | 1,624 | +26.4% |
| Rod and Refining Segment · Operating Segments | 2,062 | 1,632 | +26.3% |
Show Consolidation Items breakouts |
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| Corporate Non Segment · Intersegment Customers | 1,672 | 1,229 | +36.0% |
| Intersegment Elimination | -2,612 | -1,914 | -36.5% |
| Material Reconciling Items · Unaffiliated Customers | 914 | 788 | +16.0% |
| Operating Segments | 6,260 | 5,625 | +11.3% |
| Operating Segments · Intersegment Customers | 940 | 685 | +37.2% |
| Operating Segments · Unaffiliated Customers | 5,320 | 4,940 | +7.7% |
| Direct Operating Costs | 4,065 | 3,756 | +8.2% |
| Cost Depreciation Amortization And Depletion | 514 | 466 | +10.3% |
Show Business Segments breakouts |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 7 | 7 | 0.0% |
| Cerro Verde · Operating Segments | 86 | 91 | -5.5% |
| Grasberg Segment · Operating Segments | 194 | 186 | +4.3% |
| Morenci · Operating Segments | 69 | 50 | +38.0% |
| Rod and Refining Segment · Operating Segments | 1 | 1 | 0.0% |
Show Consolidation Items breakouts |
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| Material Reconciling Items | 157 | 131 | +19.8% |
| Cost of Revenue | 4,579 | 4,222 | +8.5% |
| Selling, General & Administrative | 162 | 154 | +5.2% |
Show Business Segments breakouts |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 11 | 9 | +22.2% |
| Cerro Verde · Operating Segments | 2 | 2 | 0.0% |
| Grasberg Segment · Operating Segments | 25 | 27 | -7.4% |
| Exploration Expense | 38 | 39 | -2.6% |
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| Cerro Verde · Operating Segments | 4 | 2 | +100.0% |
| Morenci · Operating Segments | 8 | 6 | +33.3% |
| Environmental Remediation Expense | 17 | 10 | +70.0% |
| Insured Event Gain Loss | -699 | — | — |
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| Grasberg Segment · Operating Segments | -699 | — | — |
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| PT Freeport Indonesia | -0.7 | — | — |
| Total Costs & Expenses | 4,097 | 4,425 | -7.4% |
| Operating Income | 2,137 | 1,303 | +64.0% |
Show Business Segments breakouts |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 22 | 5 | +340.0% |
| Cerro Verde · Operating Segments | 638 | 409 | +56.0% |
| Grasberg Segment · Operating Segments | 842 | 777 | +8.4% |
| Morenci · Operating Segments | 262 | 109 | +140.4% |
| Rod and Refining Segment · Operating Segments | 15 | 9 | +66.7% |
Show Consolidation Items breakouts |
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| Material Reconciling Items | 477 | 77 | +519.5% |
| Operating Segments | 1,779 | 1,309 | +35.9% |
| Interest Income Expense Net | -114 | -70 | -62.9% |
| Other Non-Operating Income (Expense) | 11 | 58 | -81.0% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | 2,034 | 1,291 | +57.6% |
| Income Tax Expense (Benefit) | -653 | -500 | -30.6% |
| Income Loss From Equity Method Investments | 6 | 2 | +200.0% |
| Net Income | 1,387 | 793 | +74.9% |
| Net Income Loss Attributable To Noncontrolling Interest | 506 | 441 | +14.7% |
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| Noncontrolling Interest | 506 | 441 | +14.7% |
| Net Income Loss Available To Common Stockholders Basic | 881 | 352 | +150.3% |
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| Parent | 881 | 352 | +150.3% |
| Retained Earnings | 881 | 352 | +150.3% |
| EPS (Basic) | 0.61 | 0.24 | +154.2% |
| EPS (Diluted) | 0.61 | 0.24 | +154.2% |
| Wtd Avg Shares (Basic) | 1,439 | 1,438 | +0.1% |
| Wtd Avg Shares (Diluted) | 1,444 | 1,444 | 0.0% |
| Common Stock Dividends Per Share Declared | 0.15 | 0.15 | 0.0% |
| Revenue | 6,254 | 5,574 | +12.2% |
| Comprehensive Income | 882 | 353 | +149.9% |
| Revenue From Contract With Customer Including Assessed Tax (Q) | — | — | — |
Show Product Lines breakouts |
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| Copper Cathode | 2,050 | 2,025 | +1.2% |
| Copper In Concentrates | 1,083 | 1,386 | -21.9% |
| Gold | 692 | 475 | +45.7% |
| Molybdenum | 613 | 442 | +38.7% |
| Purchased Copper | 89 | 298 | -70.1% |
| Refined Copper Products | 1,504 | 960 | +56.7% |
| Silver And Other | 278 | 139 | +100.0% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 3,737 | 4,385 | -14.8% |
| Restricted Cash And Cash Equivalents At Carrying Value | 280 | — | — |
| Accounts Receivable | 681 | 743 | -8.3% |
| Value Added Tax Receivable Current | 666 | 565 | +17.9% |
| Product | 3,042 | 3,220 | -5.5% |
| Inventory Raw Materials And Supplies Net Of Reserves | 2,865 | 2,418 | +18.5% |
| Inventory Milland Stockpileson Leach Pads Current | 1,513 | 1,436 | +5.4% |
| Insurance Settlements Receivable Current | 699 | — | — |
| Other Assets Current | 609 | 575 | +5.9% |
| Total Current Assets | 14,092 | 13,802 | +2.1% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 41,101 | 39,200 | +4.8% |
| Inventory Noncurrent | 1,100 | 1,169 | -5.9% |
| Income Taxes Receivable Noncurrent | 832 | — | — |
| Other Non-Current Assets | 1,715 | 1,851 | -7.3% |
| Total Assets | 58,840 | 56,022 | +5.0% |
Show Business Segments breakouts |
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| Atlantic Copper Smelting and Refining Segment · Operating Segments | 1,904 | 1,448 | +31.5% |
| Cerro Verde · Operating Segments | 8,772 | 8,166 | +7.4% |
| Grasberg Segment · Operating Segments | 27,959 | 28,006 | -0.2% |
| Morenci · Operating Segments | 3,434 | 3,239 | +6.0% |
| Rod and Refining Segment · Operating Segments | 374 | 364 | +2.7% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | -20,120 | -20,668 | +2.7% |
| Material Reconciling Items | 36,517 | 35,467 | +3.0% |
| Operating Segments | 42,443 | 41,223 | +3.0% |
| Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current | 4,142 | 4,078 | +1.6% |
| Accrued Income Taxes Current | 725 | 857 | -15.4% |
| Current Portion of Long-Term Debt | 500 | 495 | +1.0% |
| Environmental And Asset Retirement Obligations Current | 323 | 296 | +9.1% |
| Dividends Payable Current | 217 | 217 | 0.0% |
| Total Current Liabilities | 5,907 | 5,943 | -0.6% |
| Non-Current Liabilities | |||
| Long-Term Debt | 8,914 | 8,909 | +0.1% |
| Environmental And Asset Retirement Obligations Noncurrent | 5,592 | 5,428 | +3.0% |
| Deferred Tax Liabilities | 4,641 | 4,402 | +5.4% |
| Operating Lease Liabilities | 987 | — | — |
| Other Non-Current Liabilities | 1,288 | 2,126 | -39.4% |
| Total Liabilities | 27,329 | 26,808 | +1.9% |
| Long-Term Debt | 9,414 | 9,404 | +0.1% |
Show Legal Entity breakouts |
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| FCX · Senior Notes | 5,289 | 5,283 | +0.1% |
| Freeport McMoRan Corporation · Subordinated Debt | 351 | 352 | -0.3% |
| PT-FI · Senior Notes | 2,987 | 2,983 | +0.1% |
Show Long-Term Debt Type breakouts |
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| Line Of Credit | 515 | 513 | +0.4% |
| Other | 22 | 23 | -4.3% |
| Stockholders' Equity | |||
| Common Stock | 163 | 163 | 0.0% |
| Additional Paid-In Capital | 23,713 | 23,627 | +0.4% |
| Retained Earnings | 2,050 | 182 | +1026.4% |
| Accumulated Other Comprehensive Income | -304 | -313 | +2.9% |
| Treasury Stock Value | -6,117 | -5,971 | -2.4% |
| Total Stockholders' Equity | 19,505 | 17,688 | +10.3% |
| Minority Interest | 12,006 | 11,526 | +4.2% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 31,511 | 29,214 | +7.9% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | -304 | -313 | +2.9% |
| Additional Paid In Capital | 23,713 | 23,627 | +0.4% |
| Common Stock | 163 | 163 | 0.0% |
| Noncontrolling Interest | 12,006 | 11,526 | +4.2% |
| Parent | 19,505 | 17,688 | +10.3% |
| Retained Earnings | 2,050 | 182 | +1026.4% |
| Treasury Stock Common | -6,117 | -5,971 | -2.4% |
| Total Liabilities & Equity | 58,840 | 56,022 | +5.0% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 514 | 466 | +10.3% |
| Payments For Insurance Settlements | -699 | — | — |
| Increase Decreasein Environmental And Asset Retirement Obligations | 71 | 49 | +44.9% |
| Paymentsfor Environmental Liabilities And Asset Retirement Obligations | -38 | -50 | +24.0% |
| Stock-Based Compensation | 68 | 54 | +25.9% |
| Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash | 12 | 14 | -14.3% |
| Pension And Other Postretirement Benefit Contributions | -5 | -3 | -66.7% |
| Deferred Income Taxes And Tax Credits | 19 | 26 | -26.9% |
| Social Investment Programs | 11 | 15 | -26.7% |
| Payments For Social Investment Programs | -12 | -13 | +7.7% |
| Other Operating Activities Cash Flow Statement | 28 | 4 | +600.0% |
| Increase Decrease In Receivables | 325 | -215 | +251.2% |
| Change in Inventory | 201 | -143 | +240.6% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | -671 | 2 | -33650.0% |
| Increase Decrease In Accrued Taxes Payable | 284 | 35 | +711.4% |
| Net Cash from Operations | 1,495 | 1,058 | +41.3% |
| Investing Activities | |||
| Payments To Acquire Productive Assets | -973 | -1,172 | +17.0% |
Show Business Segments breakouts |
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| All Other Segments | -130 | -109 | -19.3% |
| Atlantic Copper Smelting and Refining Segment · Operating Segments | -56 | -43 | -30.2% |
| Cerro Verde · Operating Segments | -74 | -74 | 0.0% |
| Grasberg Segment · Operating Segments | -456 | -704 | +35.2% |
| Indonesia Segment | -456 | -704 | +35.2% |
| Molybdenum | -29 | -19 | -52.6% |
| Morenci · Operating Segments | -44 | -59 | +25.4% |
| North America Copper Mines Segment | -244 | -255 | +4.3% |
| Rod and Refining Segment · Operating Segments | -14 | -17 | +17.6% |
| South America Mines Segment | -114 | -85 | -34.1% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | -5 | -1 | -400.0% |
| Material Reconciling Items | -324 | -274 | -18.2% |
| Operating Segments | -644 | -897 | +28.2% |
| Other Investing Activities | -12 | -4 | -200.0% |
| Net Cash from Investing | -985 | -1,176 | +16.2% |
| Financing Activities | |||
| Proceeds From Issuance Of Debt | 1,137 | 1,088 | +4.5% |
| Debt Repayments | -1,102 | -636 | -73.3% |
| Finance Lease Principal Payments | -9 | -3 | -200.0% |
| Payments Of Dividends Common Stock | -218 | -218 | 0.0% |
| Payments Of Dividends Minority Interest | -225 | — | — |
| Share Repurchases | -93 | -55 | -69.1% |
| Proceeds From Stock Options Exercised | 19 | 1 | +1800.0% |
| Tax Withholding for Share Compensation | -43 | -22 | -95.5% |
| Net Cash from Financing | -534 | 155 | -444.5% |
| Other Cash Flow | |||
| Net Change in Cash | -24 | 37 | -164.9% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 4,149 | 4,948 | -16.1% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.