Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Freeport-McMoRan Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial performance over the analyzed period is characterized by significant volatility in revenues and profitability, reflecting the cyclical nature of the industry and the impact of fluctuating operational costs. Revenue trends exhibit a general range between 4.8 billion and 7.5 billion dollars, with a notable peak in the second quarter of 2025 followed by a sharp contraction toward the end of that year.
- Revenue and Gross Profit Trends
- Revenues peaked at 7.58 billion dollars in June 2025, representing the highest point in the series. However, this was followed by a decline to 5.63 billion dollars by December 2025. Gross profit margins have fluctuated considerably; for instance, gross profit reached 2.96 billion dollars in March 2022 but fell to 1.01 billion dollars by December 2025, indicating a compression of margins during the latter period despite revenue remaining above 2021 levels.
- Operational Cost Analysis
- Production and delivery costs have demonstrated a steady upward trajectory, rising from 2.78 billion dollars in March 2021 to a peak of 4.28 billion dollars in June 2025. This increase in the cost base has put pressure on operating margins. Cost of sales as a total has consistently tracked with production increases, reaching a high of 4.95 billion dollars in June 2025.
- Operating Expenses and Income
- Selling, general, and administrative expenses have remained relatively stable, generally fluctuating between 87 million and 162 million dollars. Exploration and research expenses have seen a gradual increase, growing from 7 million dollars in early 2021 to a peak of 55 million dollars in June 2025. Operating income mirrored the volatility of gross profit, hitting a low of 811 million dollars in December 2025 before recovering sharply to 2.13 billion dollars in March 2026.
- Net Income and Noncontrolling Interests
- Net income attributable to common stockholders exhibits higher volatility than consolidated net income. A significant disparity is observed in the impact of noncontrolling interests, which subtracted substantial amounts from the bottom line, such as 775 million dollars in June 2025. The net income attributable to common stockholders reached a peak of 1.52 billion dollars in March 2022 and a low of 274 million dollars in December 2024.
- Exceptional Items and Non-Operating Impacts
- The financial results for March 2026 were significantly bolstered by a one-time insurance settlement related to the PTFI mud rush incident, amounting to 699 million dollars. This non-recurring gain contributed heavily to the recovery of operating income in the final quarter of the data set. Interest expenses have remained relatively controlled, trending downward from a peak of 171 million dollars in late 2021 to approximately 114 million dollars by March 2026.