“CONSOLIDATED RESULTS Three Months Ended March 31, 2026 2025 SUMMARY FINANCIAL DATA (in millions, except per share amounts) Revenues a,b $ 6,234 $ 5,728 Operating income a,c $ 2,137 $ 1,303 Net income attributable to common stock b,c $ 881 d $ 352 Diluted net…”10-Q · May 8, 2026 ↗
Freeport-McMoRan Inc.
FCX
Market read
Freeport-McMoRan Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- PTFI’s unit net cash credits were $3.53 per pound of copper in Q1 2026 versus net cash costs of $0.64 per pound in Q1 2025, driven primarily by higher by-product credits.
Invalidation: The isolated read changes if FCX's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- PTFI’s unit net cash credits were $3.53 per pound of copper in Q1 2026 versus net cash costs of $0.64 per pound in Q1 2025, driven primarily by higher by-product credits.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
No qualifying supportive evidence was identified.
- Operating margin changed -1.4 percentage points in the latest annual period.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 11, 2026
71.12Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Tariffs Our third-quarter 2025 costs were not significantly impacted by U.S.”10-Q · Nov 6, 2025 ↗
“PTFI’s unit net cash credits (including by-product credits) of $3.53 per pound of copper in first-quarter 2026 were favorable compared to unit net cash costs (net of by-product credits) of $0.64 per pound of copper in first-quarter 2025, primarily reflecting…”10-Q · May 8, 2026 ↗
“dits) for South America operations of $2.38 per pound of copper in first-quarter 2026 were lower than first-quarter 2025 average unit net cash costs of $2.40 per pound of copper, primarily reflecting higher by-product credits and lower treatment charges, most…”10-Q · May 8, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for FCX. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for FCX. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind FCX
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MIMTFFiling-linked namepartnerMay 8, 2026 ▾
“In 1996, PTFI entered into a joint venture and shareholder agreement with Mitsubishi Materials Corporation (MMC) to jointly construct the PT Smelting facilities.”
RTNTFFiling-linked namepartnerFeb 13, 2026 ▾
“Pursuant to the divestment agreement and related documents, PT Mineral Industri Indonesia (MIND ID), an Indonesia state-owned enterprise, acquired all of Rio Tinto plc’s (Rio Tinto) interests associated with its joint venture with PTFI (the former Rio Tinto J…”
CDPMFFiling-linked nameinvesteeFeb 13, 2026 ▾
“At December 31, 2025, Cerro Verde had no borrowings outstanding under its $ 350 million senior unsecured revolving credit facility that matures in May 2027.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
FCX is currently a Early Follower in the organic co-movement group Copper Miners. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.