What to Expect From Freeport-McMoRan's Next Quarterly Earnings Report

Freeport-McMoRan Inc. (FCX), headquartered in Phoenix, Arizona, is a leading international metals company with the objective of being foremost in copper. With a market cap of $100.5 billion, the company mines mineral properties exploring copper, gold, molybdenum, silver, and other metals. The leading international metals company is expected to announce its fiscal third-quarter earnings for 2026 in the near term.

Ahead of the event, analysts expect Freeport-McMoRan to report a profit of $0.73 per share on a diluted basis, up 46% from $0.50 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. 

For the full year, analysts expect Freeport-McMoRan to report EPS of $2.82, up 59.3% from $1.77 in fiscal 2025. Its EPS is expected to rise 33.3% year over year to $3.76 in fiscal 2027. 

FCX stock has notably outperformed the S&P 500 Index’s ($SPX) 14% gains over the past 52 weeks, with shares up 78.5% during this period. Similarly, it considerably outperformed the State Street Materials Select Sector SPDR ETF’s (XLB) 8.7% returns over the same time frame.

FCX’s performance benefited significantly from historically high copper and gold prices, which boosted realizations across the board. Furthermore, the company is making steady progress toward restoring full production at its Grasberg mine in Indonesia, which had been offline following a 2025 mining accident that severely constrained output. 

On Jul. 23, FCX shares closed down by 2.3% after reporting its Q2 results. Its adjusted EPS of $0.74 surpassed Wall Street expectations of $0.62. The company’s revenue was $7 billion, topping Wall Street forecasts of $6.5 billion.

Analysts’ consensus opinion on FCX stock is bullish, with a “Strong Buy” rating overall. Out of 24 analysts covering the stock, 17 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and five give a “Hold.” FCX’s average analyst price target is $74.25, indicating a potential upside of 6.1% from the current levels. 

On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.