Freeport-McMoRan (FCX) Reports Q4 Earnings: What Key Metrics Have to Say

By Zacks Equity Research | January 22, 2026, 11:00 AM

Freeport-McMoRan (FCX) reported $5.63 billion in revenue for the quarter ended December 2025, representing a year-over-year decline of 1.5%. EPS of $0.47 for the same period compares to $0.31 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $5.18 billion, representing a surprise of +8.84%. The company delivered an EPS surprise of +67.98%, with the consensus EPS estimate being $0.28.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Freeport-McMoRan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Sales in thousands of ounces - Gold - Consolidated basis: 80.00 Koz compared to the 55.09 Koz average estimate based on four analysts.
  • Total Net Cash Cost Per Pound of Copper: $2.22 versus $2.45 estimated by four analysts on average.
  • Sales in thousands of Ounces - Gold - Indonesia: 75.00 Koz compared to the 49.47 Koz average estimate based on three analysts.
  • Sales in thousands of Ounces - Gold - North America: 5.00 Koz versus 5.65 Koz estimated by three analysts on average.
  • Sales in millions of pounds - Copper - Indonesia - Grasberg: 112.00 Mlbs versus 20.43 Mlbs estimated by three analysts on average.
  • Revenues- Indonesia: $960 million versus the three-analyst average estimate of $303.61 million. The reported number represents a year-over-year change of -57.3%.
  • Revenues- Molybdenum: $220 million compared to the $297.1 million average estimate based on three analysts. The reported number represents a change of +24.3% year over year.
  • Revenues- South America copper mines: $1.62 billion versus the three-analyst average estimate of $1.47 billion. The reported number represents a year-over-year change of +34.2%.
  • Revenues- North America copper mines: $2.1 billion compared to the $1.9 billion average estimate based on three analysts. The reported number represents a change of +30.4% year over year.
  • Revenues- Rod & Refining: $1.77 billion compared to the $1.66 billion average estimate based on two analysts. The reported number represents a change of +20.9% year over year.
  • Revenues- Atlantic Copper Smelting & Refining: $820 million compared to the $725.1 million average estimate based on two analysts. The reported number represents a change of +20.8% year over year.
  • Revenues- Corporate, other & eliminations: $-1.86 billion compared to the $-1.39 billion average estimate based on two analysts. The reported number represents a change of +12% year over year.

View all Key Company Metrics for Freeport-McMoRan here>>>

Shares of Freeport-McMoRan have returned +16.7% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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