Freeport-McMoRan Reports Revenue Increase to $7.58 Billion in Q2 2025

Freeport-McMoRan Inc. reported a significant increase in its financial performance for the second quarter of 2025, with revenues reaching $7.58 billion, up from $6.62 billion in the same period last year. For the first half of 2025, revenues totaled $13.31 billion, compared to $12.95 billion in the first half of 2024. The company’s net income attributable to common stockholders also rose to $772 million for the second quarter, compared to $616 million in the prior year, and $1.12 billion for the first six months of 2025, slightly down from $1.09 billion in the same period of 2024. The diluted earnings per share increased to $0.53 from $0.42 year-over-year.

The company experienced notable changes in its operational metrics, with copper production decreasing to 963 million pounds in the second quarter of 2025 from 1.04 billion pounds in the same quarter of 2024. However, gold production increased to 317,000 ounces from 443,000 ounces year-over-year. The average realized price for copper rose to $4.54 per pound, while gold prices surged to $3,291 per ounce, reflecting favorable market conditions. The total cash and cash equivalents at the end of the second quarter stood at $4.49 billion, up from $3.92 billion at the end of 2024.

Strategically, Freeport-McMoRan achieved a major milestone with the startup of PT Freeport Indonesia’s new large-scale copper smelter in Eastern Java, which is expected to enhance its production capabilities significantly. The company is also focusing on operational efficiencies and technology innovations, targeting an annual run rate of 300 million pounds of copper from leaching initiatives by the end of 2025. Additionally, Freeport-McMoRan has been actively repurchasing shares, acquiring 2.9 million shares for $107 million in the first half of 2025.

In terms of geographic expansion, Freeport-McMoRan continues to operate in diverse regions, including the U.S., South America, and Indonesia. The company is also navigating regulatory changes in Indonesia, including a new export duty on copper concentrate and a requirement for export proceeds to be deposited in local banks. The company’s total debt as of June 30, 2025, was $9.25 billion, with a net debt of $1.53 billion, excluding project debt for PTFI’s downstream processing facilities.

Looking ahead, Freeport-McMoRan anticipates continued fluctuations in commodity prices, which will impact its financial performance. The company projects consolidated sales volumes of approximately 3.95 billion pounds of copper and 1.3 million ounces of gold for the year 2025. The outlook remains contingent on operational performance, market conditions, and the successful ramp-up of its new smelting facilities. The company is committed to maintaining a strong balance sheet while pursuing growth opportunities and returning value to shareholders through dividends and share repurchases.