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Freeport-McMoRan (FCX) Q1 FY2026 earnings: revenue $6.2 billion, up 8.8% on the year

Freeport-McMoRan Inc. (FCX) reported revenue of $6.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 8.8% on the same quarter a year earlier. Net income was $881 million, up 150.3% on the year, and diluted earnings per share $0.61. The figures are the company's own, from the 10-Q it filed with the SEC on 8 May 2026.

Revenue
$6.2 billion
+8.8% on the year · +10.7% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
34.3%
22.7% a year earlier
Q2 FY2024Q1 FY2026
Net income
$881 million
+150.3% on the year · +117.0% on the quarter
Q2 FY2024Q1 FY2026
Diluted EPS
$0.61
+154.2% on the year · +117.9% on the quarter
Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 5 raised, 5 lowered, 4 new, 4 kept.

  • Net income rose on insurance settlement: Revenues were $6,234 million against $5,728 million a year earlier. Net income attributable to common stock was $881 million, $0.61 per share, against $352 million.
  • Insurance gain offset idle facility costs: PTFI recognized $699 million of insurance settlement gain, against $406 million of idle facility and restoration costs. After-tax net credits were $51 million, $0.04 per share.
  • Indonesia output and sales fell sharply: PTFI copper production was 95 million pounds against 296 million a year earlier, and copper sales were 82 million against 290 million, after the September 2025 mud rush incident.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Revenue6,2345,6335,728+10.7%+8.8%
Cost of revenue4,5794,6164,222-0.8%+8.5%
Gross profit1,6551,0171,506+62.7%+9.9%
Gross margin26.5%18.1%26.3%
Selling, general and administrative162133154+21.8%+5.2%
Operating income2,1378111,303+163.5%+64.0%
Operating margin34.3%14.4%22.7%
Pre-tax income2,0347661,291+165.5%+57.6%
Income tax653202500+223.3%+30.6%
Effective tax rate32.1%26.4%38.7%
Net income881406352+117.0%+150.3%
Net margin14.1%7.2%6.1%
Diluted EPS$0.61$0.28$0.24+117.9%+154.2%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow1,4956931,058+115.7%+41.3%
Capital expenditure9731,0051,172-3.2%-17.0%
Free cash flow522-312-114
Free cash flow margin8.4%-5.5%-2.0%
Cash from investing-985-1,030-1,176
Cash from financing-534-143155
Depreciation and amortisation514485466+6.0%+10.3%
Share-based compensation68.023.054.0+195.7%+25.9%
Buybacks93.00.055.0+69.1%
Dividends paid218216218+0.9%0.0%
Dividend per share$0.15$0.15$0.150.0%0.0%
Diluted shares, weighted1,444m1,443m1,444m+0.1%0.0%
Shares outstanding at period end1,438m1,437m1,436m+0.0%+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity19,50518,89917,688+3.2%+10.3%
Non-controlling interest12,00611,86711,526+1.2%+4.2%
Debt9,4149,3799,404+0.4%+0.1%
Operating lease liabilities9871,010n/a-2.3%
Other liabilities16,92817,01217,404-0.5%-2.7%
Total liabilities and equity58,84058,16756,022+1.2%+5.0%
Fixed assets41,10140,73639,200+0.9%+4.8%
Intangible assetsn/a432n/a
Investmentsn/a125n/a
Cash and equivalents3,7373,8244,385-2.3%-14.8%
Receivables681977743-30.3%-8.3%
Other assets13,32112,07311,694+10.3%+13.9%
Total assets58,84058,16756,022+1.2%+5.0%

Questions

What was Freeport-McMoRan's revenue in Q1 FY2026?

Freeport-McMoRan (FCX) reported revenue of $6.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 8.8% on the same quarter a year earlier.

How much did Freeport-McMoRan earn in Q1 FY2026?

Net income for Q1 FY2026 was $881 million, up 150.3% on the year, and diluted earnings per share $0.61.

When did Freeport-McMoRan report Q1 FY2026 results?

Freeport-McMoRan filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 8 May 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue6,1646,6035,4165,0035,7585,3895,7375,8245,9056,3216,6246,7905,7205,7287,5826,9725,6336,2347,0297,546
Cost of revenue3,7233,6393,5283,8994,0233,5644,0964,0863,9494,4394,3844,6774,2954,2224,9504,8304,6164,5794,8434,999
Gross profit2,4412,9641,8881,1041,7351,8251,6411,7381,9561,8822,2402,1131,4251,5062,6322,1421,0171,6552,1862,547
Gross margin40%45%35%22%30%34%29%30%33%30%34%31%25%26%35%31%18%27%31%34%
SG&A94.011510098.0107126115118120144123117129154127131133162135131
Operating income2,3052,8091,7369621,5301,6011,4101,4921,7221,6342,0491,9381,2431,3032,4321,9728112,1372,0032,353
Operating margin37%43%32%19%27%30%25%26%29%26%31%29%22%23%32%28%14%34%28%31%
Pre-tax income1,9732,7131,5998671,5361,5381,2681,4721,7281,6742,0301,9631,2401,2912,3911,9247662,0341,9302,292
Tax rate32%30%36%36%36%32%43%35%42%31%37%38%42%39%36%35%26%32%28%27%
Net income1,1061,5278404046976633434543884736165262743527726744068819841,174
Net margin18%23%16%8%12%12%6%8%7%7%9%8%5%6%10%10%7%14%14%16%
Diluted EPS$0.75$1.04$0.57$0.28$0.48$0.46$0.23$0.31$0.27$0.32$0.42$0.36$0.19$0.24$0.53$0.46$0.28$0.61$0.68$0.81
Operating cash flow2,2801,6911,6217581,0691,0501,6731,2361,3201,8961,9561,8721,4361,0582,1951,6646931,4952,0481,981
Capital expenditure7717238638361,0471,1211,1631,1781,3621,2541,1161,1991,2391,1721,2611,0561,005973n/an/a
Free cash flow1,509968758-78.022.0-71.051058.0-42.0642840673197-114934608-312522n/an/a
Buybacks4885416441620.00.00.00.00.00.00.059.00.055.052.00.00.093.0110102
Dividends paid111220218214214217215215216218215216216218215216216218216216
Shares outstanding1,455m1,449m1,429m1,429m1,431m1,433m1,434m1,434m1,434m1,436m1,437m1,437m1,437m1,436m1,436m1,436m1,437m1,438m1,436m1,435m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 8 May 2026: the filing.