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Compared to Estimates, Freeport-McMoRan (FCX) Q3 Earnings: A Look at Key Metrics

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Freeport-McMoRan (FCX - Free Report) reported $7.55 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 8.2%. EPS of $0.88 for the same period compares to $0.50 a year ago.

The reported revenue represents a surprise of +6.48% over the Zacks Consensus Estimate of $7.09 billion. With the consensus EPS estimate being $0.80, the EPS surprise was +10%.

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 compared to the 5.67 Mlbs average estimate based on three analysts.
  • South America operations - Unit net cash costs: $2.39 versus the three-analyst average estimate of $2.48.
  • Sales - Gold (thousands of recoverable ounces) - Consolidated: 105.00 Koz compared to the 101.31 Koz average estimate based on three analysts.
  • Production - Molybdenum (millions of recoverable pounds) - U.S. copper mines: 8.00 Mlbs versus 8.70 Mlbs estimated by three analysts on average.
  • Production - Molybdenum (millions of recoverable pounds) - Henderson: 3.00 Mlbs versus 2.44 Mlbs estimated by three analysts on average.
  • Revenues- Indonesia Operations: $1.48 billion compared to the $1.41 billion average estimate based on three analysts. The reported number represents a change of -44.8% year over year.
  • Revenues- Molybdenum Mines: $233 million versus $370.95 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +31.6% change.
  • Revenues- South America Operations: $2 billion versus the three-analyst average estimate of $1.77 billion. The reported number represents a year-over-year change of +41.7%.
  • Revenues- U.S. Copper Mines: $2.54 billion versus $2.35 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +30.8% change.
  • Revenues- U.S. Rod & Refining: $2.37 billion versus $2 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +32.6% change.
  • Revenues- Atlantic Copper Smelting & Refining: $1.25 billion compared to the $888.33 million average estimate based on two analysts. The reported number represents a change of +61.9% year over year.
  • Revenues- Corporate, Other & Eliminations: $-2.33 billion versus the two-analyst average estimate of $-1.79 billion. The reported number represents a year-over-year change of +29.6%.

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

Shares of Freeport-McMoRan have returned -9.5% over the past month versus the Zacks S&P 500 composite's -0.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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