Freeport Q2 2026 net income rises to $984 million as revenue falls to $7.0 billion
Freeport-McMoRan reported second-quarter 2026 net income attributable to common stock of $984 million, or $0.68 per share, up from $772 million, or $0.53 per share, a year earlier. Revenue fell to $7,029 million from $7,582 million and operating income fell to $2,003 million from $2,432 million, as copper sales dropped due to lower output at the Grasberg mine in Indonesia. Shareholders also face after-tax charges of $96 million tied to the September 2025 mud rush incident at PTFI.
Key points
- Net income attributable to common stock was $984 million, $0.68 per share, versus $772 million, $0.53 per share, in second-quarter 2025
- Revenue was $7,029 million and operating income was $2,003 million, compared with $7,582 million and $2,432 million a year earlier
- Copper sales were 710 million pounds, down from 1.0 billion pounds in second-quarter 2025, reflecting the phased ramp-up of the Grasberg Block Cave mine
- During the quarter, the company bought back 1.7 million shares for $110 million and 2.0 million Cerro Verde shares for $107 million
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 23, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.