Freeport-McMoRan Inc. · FCX · Next earnings

Freeport-McMoRan Inc. reports Thursday, Oct 22, 2026

FCX reports before market open with consensus EPS at $0.73 and revenue at $7.32B. Last quarter: FCX Beats Q2 on Higher Copper Margins, Grasberg Ramp-Up Doubles Production

Reports Before market open32 days awayDate estimated Basic Materials

What the street expects

Consensus for the coming report
Consensus EPS $0.73 Calendar consensus
Consensus revenue $7.32B Calendar consensus
Report date Oct 22, 2026 Thursday, date estimated
Session Before market open 32 days away

Where FCX left off: FY2026 Q2

Full report

FCX Beats Q2 on Higher Copper Margins, Grasberg Ramp-Up Doubles Production

EPS surprise +13.3% Reported $0.68 vs $0.60
Revenue surprise +6.2% Reported $7.03B vs $6.62B
Stock move +3.9% Event window
Subsequent drift -5.2% Up to 20 sessions

Guidance sentiment was maintained, consistent with the prior quarter. Management did not raise or lower full-year guidance. However, the capex outlook shifted from stable to increasing, signaling anticipated investment acceleration tied to the Bagdad expansion decision and leach technology scaling.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Higher-than-expected capex for the Bagdad expansion could pressure project returns.
  • Regulatory approval risk for the Grasberg rights extension and El Abra expansion.
  • Commodity price volatility, especially copper, oil, sulfur, and acid costs.
  • Scaling leach technology to commercial volumes may encounter technical challenges.
  • Potential permitting delays for Safford/Lone Star and El Abra projects.

Questions analysts left open

  • Timing and economics of the Bagdad expansion and potential government incentives.
  • Progress and timeline for the Grasberg mine-rights extension.
  • Assumptions around copper price sensitivity in EBITDA forecasts.
  • Ability to achieve the 300-million-pound leach run-rate and associated capital requirements.
  • Molybdenum price assumptions and potential upside.

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Recent FCX quarters

All FCX earnings
+3.9%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.