---
schema_version: "secwatch.filing_event.v1"
accession: "0000831259-23-000016"
form_type: "8-K"
ticker: "FCX"
cik: "0000831259"
company_name: "FREEPORT-MCMORAN INC"
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:57:27.929250+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Freeport-McMoRan Q1 net income $663M ($0.46/share), down 57% YoY; weather-hit sales

## Summary
- Revenue $5.4B, down 18% from $6.6B YoY; operating income $1.6B vs $2.8B.
- Copper sales 832M lbs, down 19% YoY, missing Jan guidance of 900M lbs due to Feb weather disruption.
- Adjusted EPS $0.52 vs $0.46 reported; charges of $94M for environmental, tax, impairment items.
- Full-year 2023 copper sales guidance 4.1B lbs; Q2 expected 1.1B lbs as Grasberg recovers.
- Operating cash flow $1.05B; FY2023 expected ~$7.0B at assumed $4.00/lb copper.

## SEC filing metadata
- accession: 0000831259-23-000016
- form_type: 8-K
- ticker: FCX
- cik: 0000831259
- company_name: FREEPORT-MCMORAN INC
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/831259/000083125923000016/0000831259-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/831259/000083125923000016/fcx-20230421.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000831259-23-000016
- JSON: https://secwatch.observer/filing/0000831259-23-000016.json
- Plain text: https://secwatch.observer/filing/0000831259-23-000016.txt

## Key facts
- Earnings Releases
  FREEPORT-MCMORAN INC reported first-quarter 2023 results: revenue $ 5,389, net income $663 million, EPS $0.46 per share.
  - Period: first-quarter 2023
  - Revenue: $ 5,389
  - Net income: $663 million
  - EPS: $0.46 per share
  - Result: reported results
  source text: team to deliver long-term value to all stakeholders." SUMMARY FINANCIAL DATA Three Months Ended March 31, 2023 2022 (in millions, except per share amounts) Revenues a,b $ 5,389 $ 6,603 Operating income a $ 1,601 $ 2,809 Net income attributable to common stock c,d $ 663 $ 1,527 Diluted net income per share of common stock $ 0.46 $ 1.04 Diluted
  evidence_url: https://www.sec.gov/Archives/edgar/data/831259/000083125923000016/0000831259-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.