Freeport Q3 2026: revenue up 6.5%, EPS in line, Grasberg still ramping
Freeport's third quarter was not an EPS beat, it was a cash quarter: revenue rose 6.5% to $7.425 billion, adjusted EPS of $0.88 edged the $0.8136 consensus and GAAP EPS of $0.81 landed in line. Read it through free cash flow of $1.981 billion and net debt of $1.8 billion, because price did the heavy lifting and Grasberg volume is still the missing piece.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $0.81 was effectively a dead heat with the $0.8136 consensus, a difference of less than a cent. Adjusted EPS of $0.88 adds back $101 million, or $0.07 per share, mostly idle facility and restoration costs tied to PTFI's September 2025 mud rush. Either way, per-share earnings nearly doubled from $0.46 a year ago.
Revenue of $7.425 billion rose 6.5% from $6.972 billion a year ago and marked a third straight quarter above $6.9 billion. The driver was price, not volume: realized copper came in at $6.54 per pound versus $4.68 a year earlier. Copper sales of 749 million pounds were well below last year's 977 million, so the top line held up on price alone.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-07
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