Freeport-mcmoran 2Q Sales Rise on Higher Gold and Copper Pricing

Dow Jones07-23 20:30

Freeport-McMoRan recorded higher sales and profit in the second quarter as the prices of its three primary mining products increased.

The mining company on Thursday posted a profit of $984 million, or 68 cents a share, in the quarter ended June 30, compared with $772 million, or 53 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 74 cents, ahead of the 62 cents anticipated by analysts, according to FactSet.

Revenue fell 7% to $7.03 billion. Analysts surveyed by FactSet had forecast revenue of $6.71 billion.

Both copper and gold had lower production and sales in the quarter than a year ago, but the average realized price per pound increased for both.

The decline in sales was a result of lower operating rates at Freeport's mine in Indonesia as it ramps up in phases the Grasberg Block Cave underground mine.

Molybdenum production and sales did increase, along with prices. The increases reflected a reduction in inventory, Freeport said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

July 23, 2026 08:30 ET (12:30 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The increases reflected a reduction in inventory, Freeport said.Write to","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"COPX":"铜矿ETF-Global X","PICK":"iShares MSCI Global Metals & Mining Producers ETF","DBB":"基础金属ETF-PowerShares","SETM":"Sprott Critical Materials ETF"},"translate_title":"自由港麦克莫兰第二季度销售额因黄金和铜价格上涨而增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PICK":1.5,"SETM":1.5,"COPX":1.5,"DBB":1.5},"content_text":"Freeport-McMoRan recorded higher sales and profit in the second quarter as the prices of its three primary mining products increased. \n\n\n  The mining company on Thursday posted a profit of $984 million, or 68 cents a share, in the quarter ended June 30, compared with $772 million, or 53 cents a share, a year earlier. \n\n\n  Stripping out certain one-time items, adjusted per-share earnings were 74 cents, ahead of the 62 cents anticipated by analysts, according to FactSet. \n\n\n  Revenue fell 7% to $7.03 billion. 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