Freeport-McMoRan reported second-quarter 2026 net income attributable to common stock of $984 million ($0.68 per share) and adjusted net income of $1.1 billion ($0.74 per share). Consolidated copper sales totaled 710 million pounds with an average realized price of $6.17 per pound. The company increased its ownership in Cerro Verde to 55.66% by purchasing 2.0 million shares for $107 million. During the quarter, FCX repurchased 1.7 million shares of its own common stock for $110 million. The company is progressing with the Grasberg Block Cave ramp-up and advancing growth projects at Bagdad and El Abra. Net debt as of June 30, 2026, was $2.1 billion, excluding $3.2 billion of debt for PTFI downstream facilities. The company operates in the mining industry, producing copper, gold, and molybdenum.
