Freeport-McMoRan Inc. (NYSE:FCX) exceeded expectations with strong Q2 results, including adjusted earnings of 54 cents per share and revenue of $7.58 billion. The company reported 963M pounds of copper production, 317K ounces of gold production, and 22M pounds of molybdenum production. Sales volumes surpassed April guidance.

The company’s average realized prices for copper, gold, and molybdenum were $4.54 per pound, $3,291 per ounce, and $21.10 per pound, respectively. Unit net cash costs for copper were $1.13 per pound, lower than guidance. Freeport anticipates minimal impact from new U.S. copper tariffs but warns of potential cost increases.

Freeport expects full-year sales of 3.95 billion pounds of copper, 1.3 million ounces of gold, and 82 million pounds of molybdenum. Q3 sales guidance includes 1.0 billion pounds of copper, 350,000 ounces of gold, and 18 million pounds of molybdenum. Full-year unit net cash costs are projected at $1.55 per pound of copper.

The company projects operating cash flows of approximately $7.0 billion for the full year, including a projected $1.25 per pound premium on U.S. copper sales in the second half of 2025. Freeport is evaluating the impact of the impending 50% U.S. copper tariff and exploring options for Indonesian copper sales in the U.S.

Freeport-McMoRan plans to continue investing in innovative projects and grow its copper business globally. The company’s strong balance sheet and attractive growth opportunities position it well for the future. FCX shares are trading lower by 0.74% at $45.50. CEO Kathleen Quirk emphasized the company’s role as a leading copper producer and its commitment to providing essential metals to a growing market.

Read more at Yahoo Finance: Freeport-McMoRan Copper And Gold Volumes Shine, CEO Touts China, India As Major Demand Driver