Every material Form 8-K Freeport-McMoRan filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Freeport-McMoRan's Board of Directors approved a $4.5 billion expansion and modernization program for its wholly owned Bagdad copper and molybdenum operation in northwest Arizona. The filing says the project would lift annual long-term copper output to over 400 million pounds, about 225 million pounds more, with initial production targeted for mid-2030. For shareholders, this is a large, multi-year capital commitment, with planned spending to be incorporated into the company's updated capital expenditure outlook and classified as discretionary.
Future incremental capital costs for a new concentrator, mining equipment and expanded infrastructure are expected to approximate $4.5 billion.
Annual long-term production would exceed 400 million pounds of copper (about 225 million pounds incremental) and over 20 million pounds of molybdenum (about 12 million pounds incremental).
Construction is expected to take about 3.5 years, with about 20% of project costs funded in 2027, 30-35% in 2028 and the balance in 2029-2030.
Project break-even economics are supported at a copper price of approximately $4.00 per pound, and the company expects a roughly 20% reduction in long-term unit net cash costs.
Freeport-McMoRan reported third-quarter 2026 net income attributable to common stock of $1.2 billion, or $0.81 per share, alongside consolidated production of 832 million pounds of copper and 234 thousand ounces of gold. The company advanced its Grasberg underground mine ramp-up and maintained strong cash flow generation, while outlining capital expenditure expectations of $4.4 billion for the full year 2026. These results highlight stable operational performance and ongoing development initiatives across its global mining portfolio.
Third-quarter 2026 net income attributable to common stock totaled $1.2 billion, or $0.81 per share.
Consolidated production reached 832 million pounds of copper, 234 thousand ounces of gold, and 22 million pounds of molybdenum in the third quarter.
Operating cash flows for the third quarter of 2026 were $2.0 billion.
During the third quarter, the company repurchased 1.4 million shares of its common stock for $102 million.
Freeport-McMoRan said third-quarter 2026 copper production was about 830 million pounds, in line with its expectations. Gold sales timing at PT Freeport Indonesia moved about 60 thousand ounces of refined gold into fourth-quarter 2026, and unit net cash costs are expected to be about 5% above the July estimate. The update points to steady operations but higher costs and lower gold sales for the quarter, and full third-quarter results are due October 27, 2026.
Third-quarter copper production of about 830 million pounds and gold production of about 230 thousand ounces, both in line with expectations.
Third-quarter gold sales are expected to be about 100 thousand ounces, below the July 2026 estimate, due to deferred sales.
Unit net cash costs are expected to be about 5% above the July 2026 estimate of $2.00 per pound of copper, mainly from lower by-product credits.
Full third-quarter 2026 earnings results are scheduled for release before the market opens on October 27, 2026.
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.
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
Freeport-McMoRan entered into a new five-year, $3.0 billion senior unsecured revolving credit facility dated May 14, 2026, which replaced its prior $3.0 billion facility that was scheduled to mature in October 2027. The filing describes the new facility as substantially similar to the prior one, with no borrowings outstanding under the prior facility at termination, so shareholders see a refinancing and term extension rather than a change in borrowing amount.
New facility dated May 14, 2026, with JPMorgan Chase Bank, N.A. as administrative agent and Bank of America, N.A. as syndication agent
Matures May 14, 2031; replaces prior facility scheduled to mature in October 2027
Includes $500 million limit on PTFI borrowing and $1.5 billion sublimit for letters of credit
Financial covenant requires a total leverage ratio not to exceed 3.75 to 1.00
Freeport-McMoRan reported first-quarter 2026 net income attributable to common stock of $881 million, or $0.61 per share, up from $352 million, or $0.24 per share, a year earlier. Revenue rose to $6.234 billion from $5.728 billion, but the company lowered its full-year 2026 sales estimates, citing a delayed ramp-up of the Grasberg Block Cave mine after the September 2025 mud rush incident, and said its production forecasts are now more variable.
Net income attributable to common stock was $881 million, $0.61 per share, versus $352 million, $0.24 per share, in first-quarter 2025; adjusted net income was $830 million, $0.57 per share.
The 2026 copper sales estimate is about 3.1 billion pounds, down from the January 2026 estimate of 3.4 billion pounds; the gold estimate is 650 thousand ounces, versus 0.8 million ounces in January.
Unit net cash costs for 2026 are expected to average $1.95 per pound of copper, with the company citing higher energy and consumables costs following the onset of Middle East military conflict in late February 2026.
First-quarter results include an after-tax net credit of $51 million, mainly from an insurance settlement tied to the September 2025 mud rush incident, with proceeds expected in second-quarter 2026; the company bought back 1.7 million share
Freeport-McMoRan director Robert W. Dudley told the Lead Independent Director and Chairman on March 20, 2026 that he will not seek re-election at the 2026 annual meeting of stockholders. He will serve the rest of his current term, which ends at that meeting, and the company said his decision was not due to any disagreement with the company. The change is a routine board transition that does not affect financial results.
Director Robert W. Dudley informed the Board on March 20, 2026 that he will not stand for re-election
His current term ends at the Company's 2026 annual meeting of stockholders
The company states the decision was not due to any disagreement with the Company
Freeport-McMoRan reported fourth-quarter 2025 net income attributable to common stock of $406 million, or $0.28 per share, up from $274 million, or $0.19 per share, a year earlier. Operating income fell to $811 million from $1,243 million, and the company cited $282 million in after-tax charges, mainly tied to the September 2025 mud rush incident at PTFI's Grasberg mine, which remains partly shut. The company expects a phased restart of the Grasberg Block Cave mine beginning in the second quarter of 2026.
Q4 2025 revenues were $5,633 million, compared with $5,720 million in Q4 2024; adjusted net income was $688 million, or $0.47 per share.
Full-year 2025 net income was $2,204 million, or $1.52 per share, versus $1,889 million, or $1.30 per share, in 2024.
For 2026, consolidated copper sales are expected to approximate 3.4 billion pounds and capital expenditures about $4.3 billion.
Operating cash flows for 2026 would approximate $8 billion at assumed prices, or $11 billion at recent prices, per the filing.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Freeport-McMoRan filing is on SEC EDGAR ↗. 8-K briefs of other companies →