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Freeport-McMoRan (FCX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

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For the quarter ended June 2026, Freeport-McMoRan (FCX - Free Report) reported revenue of $7.03 billion, down 7.3% over the same period last year. EPS came in at $0.74, compared to $0.54 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $6.47 billion, representing a surprise of +8.57%. The company delivered an EPS surprise of +19.36%, with the consensus EPS estimate being $0.62.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Freeport-McMoRan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Production - Molybdenum (millions of recoverable pounds) - Climax: 5.00 Mlbs versus 5.94 Mlbs estimated by three analysts on average.
  • Total - Copper (millions of recoverable pounds) - Unit net cash costs per pound: $1.97 versus the three-analyst average estimate of $2.12.
  • Sales - Gold (thousands of recoverable ounces) - Consolidated: 123.00 Koz compared to the 139.57 Koz average estimate based on three analysts.
  • Indonesia operations - Unit net cash (credits) costs: $-0.81 compared to the $-1.43 average estimate based on three analysts.
  • South America operations - Unit net cash costs: $2.48 versus the three-analyst average estimate of $2.66.
  • Revenues- Indonesia Operations: $1.48 billion versus the three-analyst average estimate of $1.23 billion. The reported number represents a year-over-year change of -56.6%.
  • Revenues- Molybdenum Mines: $204 million versus the three-analyst average estimate of $350.55 million. The reported number represents a year-over-year change of +13.3%.
  • Revenues- South America Operations: $1.81 billion compared to the $1.66 billion average estimate based on three analysts. The reported number represents a change of +43.5% year over year.
  • Revenues- U.S. Copper Mines: $2.28 billion compared to the $2.15 billion average estimate based on three analysts. The reported number represents a change of +33.1% year over year.
  • Revenues- U.S. Rod & Refining: $2.24 billion versus the two-analyst average estimate of $1.88 billion. The reported number represents a year-over-year change of +31.6%.
  • Revenues- Atlantic Copper Smelting & Refining: $1.03 billion versus the two-analyst average estimate of $893.45 million. The reported number represents a year-over-year change of +25.9%.
  • Revenues- Corporate, Other & Eliminations: $-2.02 billion versus the two-analyst average estimate of $-1.68 billion. The reported number represents a year-over-year change of +33.7%.

View all Key Company Metrics for Freeport-McMoRan here>>>

Shares of Freeport-McMoRan have returned +5.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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