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Freeport-McMoRan beats quarterly profit estimates on higher copper prices
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Freeport-McMoRan beats quarterly profit estimates on higher copper prices
Jul 23, 2026 5:35 AM

July 23 (Reuters) - Freeport-McMoRan ( FCX ) beat Wall

Street estimates for second-quarter profit on Thursday, powered

by higher copper prices.

Average copper prices climbed 41.5% year-on-year in the

second quarter, driven by supply concerns, signs of resilient

demand from top consumer China and geopolitical tensions in the

Middle East.

Quarterly average realized price for copper was $6.17 per

pound, compared with $4.54 per pound a year earlier.

The ​world's largest publicly traded copper producer

reported an adjusted profit of 74 cents per share for the three

months ended June 30, compared with analysts' average estimate

of 59 cents, according to data compiled by LSEG.

(Reporting by Pranav Mathur in Bengaluru; Editing by Sriraj

Kalluvila)

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