secwatch.observer — SEC 8-K summary
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Issuer:     FREEPORT-MCMORAN INC (FCX)
CIK:        0000831259
Form:       8-K
Filed at:   2026-04-23T23:59:59+00:00
Accession:  0000831259-26-000021
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Freeport Q1 net income $881M ($0.61 EPS); lowers 2026 copper sales guidance due to Grasberg delay
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- Net income $881M ($0.61 diluted EPS); adjusted net income $830M ($0.57). Revenue $6.23B, up 9% YoY.
- Copper sales 657M lbs (below 872M YoY) due to PTFI mud rush; gold sales 121k oz beat 60k oz estimate.
- 2026 copper sales guidance cut to ~3.1B lbs from 3.4B lbs; Grasberg Block Cave ramp-up delayed.
- Average copper price $5.78/lb; unit net cash costs $1.91/lb, favorable vs $2.60 estimate.
- Signed MoU with Indonesia for life-of-resource extension at Grasberg; repurchased 1.7M shares ($93M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/831259/000083125926000021/0000831259-26-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/831259/000083125926000021/fcx-20260423.htm
  HTML page:      https://secwatch.observer/filing/0000831259-26-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer