Freeport-McMoRan (FCX) Q4 2025 Earnings Transcript

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Thursday, January 22, 2026 astatine 10 a.m. ET

• Chairman of the Board — Richard Adkerson

• President and Chief Executive Officer — Kathleen Quirk

• Executive Vice President and Chief Financial Officer — Maree Robertson

• Executive Vice President and Chief Operating Officer — Corey Stevens

• Executive Vice President, Indonesia Operations — Mark Johnson

• Director, Investor Relations — David Joint

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David Joint: Thank you, Regina, and bully morning, everyone. Welcome to the Freeport-McMoRan Inc. league call. Earlier this morning, Freeport-McMoRan Inc. reported its 4th fourth and afloat twelvemonth 2025 operating and fiscal results. A transcript of today's property merchandise with supplemental schedules and slides are disposable connected our website fcx.com. Today's league telephone is being broadcast unrecorded connected the Internet. Anyone whitethorn perceive to the league telephone by accessing the webcast nexus connected our homepage. In summation to analysts and investors, the fiscal property has been invited to perceive to today's call. A replay of the webcast volition beryllium disposable connected our website aboriginal today.

Before we statesman our comments, we would similar to punctual everyone that today's property merchandise and definite of our comments connected the telephone see non-GAAP measures and forward-looking statements, and existent results whitethorn disagree materially. Please notation to the cautionary connection included successful our property merchandise and slides to the hazard factors described successful our SEC filings, each of which are disposable connected our website. Also connected the telephone with maine contiguous are Richard Adkerson, Chairman of the Board, Kathleen Quirk, President and Chief Executive Officer, Maree Robertson, Executive Vice President and CFO, and different members of our absorption team.

Richard volition marque immoderate opening remarks, Kathleen volition reappraisal our descent materials, and past we volition unfastened up the telephone for questions. Richard?

Richard Adkerson: Thanks, David. Thank each of you for joining our telephone today. We are pleased to study affirmative results for our 4th quarter. 2025 was a genuinely eventful year. Recent copper prices person been beardown successful the look of uncertainties from planetary trade, tariffs, and geopolitical conflicts. The aboriginal for copper remains bright. Kathleen volition study connected the notable advancement we person achieved during the 4th fourth pursuing the September mudflow lawsuit astatine PTFI. It is awesome and provides our enactment assurance astir our future. PTFI has a well-designed program to recover. Now we indispensable execute, and we will. Our semipermanent strategy committedness for Freeport-McMoRan Inc. to beryllium foremost successful copper remains intact.