Q3 25 EPS
$0.50
BEAT +21.01%
Est. $0.41
Q3 25 Revenue
$6.97B
BEAT +3.57%
Est. $6.73B
vs S&P Since Q3 25
+29.4%
BEATING MARKET
FCX +35.8% vs S&P +6.4%
Market Reaction
Did FCX Beat Earnings? Q3 2025 Results
Freeport-McMoRan delivered a stronger-than-expected third quarter despite a catastrophic operational event that will shadow its results well into 2026, with adjusted earnings of $0.50 per share beating the $0.41 consensus by 21.01% and revenue of $6.… Read more Freeport-McMoRan delivered a stronger-than-expected third quarter despite a catastrophic operational event that will shadow its results well into 2026, with adjusted earnings of $0.50 per share beating the $0.41 consensus by 21.01% and revenue of $6.97 billion topping estimates by 3.57% on 4.4% year-over-year growth. The headline numbers, however, carry an asterisk: a September 8 mud rush at the Grasberg Block Cave underground mine in Indonesia, which claimed seven lives and temporarily halted all mining at the site, cut an estimated 90 million pounds from copper production and contributed to a sharp drop in gold output to 287 thousand ounces from 456 thousand a year ago. Higher realized copper prices of $4.68 per pound and gold realizations of $3,539 per ounce helped offset volume losses, while unit net cash costs of $1.40 per pound came in well below July guidance. Looking ahead, FCX's outlook is heavily constrained by the incident, with Q4 copper sales guided to just 635 million pounds and a phased restart scenario pointing to roughly a 35% reduction in Indonesian production in 2026; institutional investors appear to be weighing that risk carefully against the company's otherwise resilient underlying business.
Key Takeaways
- • Higher average realized copper price of $4.68/lb vs. $4.30/lb year-over-year
- • Higher average realized gold price of $3,539/oz vs. $2,568/oz year-over-year
- • Lower consolidated unit net cash costs of $1.40/lb vs. July 2025 guidance of $1.59/lb
- • Higher U.S. copper mine sales volumes of 339 million pounds vs. 316 million pounds year-over-year
- • Higher by-product credits, particularly gold and molybdenum
- • Lower treatment charges at South America and Indonesia operations
- • Molybdenum mines swung to gross profit of $0.64/lb vs. loss of $4.17/lb year-over-year on higher volumes and lower unit costs
- • Indonesia operations unit net cash credits of $(0.92)/lb reflecting substantial gold by-product credits
FCX YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
FCX Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our strong third-quarter 2025 results were overshadowed by the tragic incident at our Grasberg operation in September. The entire FCX organization is grieving for our coworkers lost in this accident and we remain steadfast in our commitment to prioritize the safety of our workforce above all else. As a leading global supplier of copper and other metals with large-scale production, significant reserves and resources and an attractive pipeline for future growth, we are focused on the important role we play to provide copper, gold and molybdenum reliably and responsibly to a world with growing demand for metals.”
— Kathleen Quirk, Q3 2025 Earnings Press Release
FCX Earnings Trends
FCX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FCX EPS Trend
Earnings per share: estimate vs actual
FCX Revenue Trend
Quarterly revenue: estimate vs actual
FCX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.57 | — | $6.23B | +4.64% |
| Q4 25 BEAT FY | $0.31 | $0.47 | +51.61% | $5.63B | +3.40% |
| FY Full Year | $1.57 | $1.77 | +12.91% | $25.92B | +1.41% |
| Q3 25 BEAT | $0.41 | $0.50 | +21.01% | $6.97B | +3.57% |
| Q2 25 BEAT | $0.45 | $0.54 | +20.99% | $7.58B | +5.44% |
| Q1 25 BEAT | $0.23 | $0.24 | +2.52% | $5.73B | +4.81% |