Freeport-McMoRan posts $0.74 adjusted EPS in Q2 2026; copper output reaches 786 million pounds

US mining group Freeport-McMoRan, one of the world's largest copper producers, released its second-quarter 2026 results on Thursday, 23 July. Net income attributable to common stock came in at $984 million (or $0.68 per share), and adjusted net income at $1.1 billion ($0.74 per share), above the analysts' average estimate of about $0.62.

Consolidated copper production totaled 786 million pounds and sales 710 million pounds in the quarter, while the company reported operating cash flow of roughly $2 billion. Freeport said the ramp-up of its Grasberg Block Cave underground mine is progressing on schedule.

As a base industrial metal, copper is a barometer of global demand and the metals industry, so results from mining majors like Freeport are also a signal of that market's health for players across Iran's metals chain.