Quarterly ResultAug 6, 2026, 05:25 PM
Freeport-McMoRan H1 EPS $1.29; Grasberg MOU for Extension
AI Summary
Freeport-McMoRan Inc. reported strong financial results for the first half of 2026, with net income attributable to common stockholders increasing to $1,865 million and basic earnings per share rising to $1.29, despite a slight dip in revenues. The company also announced a Memorandum of Understanding with the Indonesian government for a life-of-resource extension of operating rights in the Grasberg minerals district beyond 2041. Additionally, FCX enhanced its financial flexibility by securing a new $3.0 billion revolving credit facility and increased its ownership in Cerro Verde.
Key Highlights
- Net income attributable to common stockholders for H1 2026 increased to $1,865M from $1,124M in H1 2025.
- Basic EPS for H1 2026 rose to $1.29 from $0.78 in H1 2025.
- Revenues for H1 2026 were $13,263M, slightly down from $13,310M in H1 2025.
- Net cash provided by operating activities for H1 2026 was $3,543M, up from $3,253M in H1 2025.
- FCX acquired 3.4M shares for $203M under its share repurchase program in H1 2026.
- FCX declared cash dividends of $0.15 per share, including a variable component.
- FCX entered a new $3.0B, five-year revolving credit facility maturing in May 2031.
- FCX increased its ownership in Cerro Verde to 55.66% by purchasing 2.0M shares for $107M.
Price Impact
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