Freeport-McMoRan reported third-quarter 2021 net income attributable to common stock of $1.4 billion, $0.94 per share, and adjusted net income attributable to common stock of $1.3 billion, $0.89 per share, after excluding net credits totaling $79 million, $0.05 per share, primarily associated with tax credits related to the release of valuation allowances at PT Freeport Indonesia and a gain on the sale of FCX's remaining cobalt business.
Richard C. Adkerson, Chairman and Chief Executive Officer, said, "Our favorable results in the third quarter and year-to-date reflect strong execution by our global team in growing our production safely, efficiently and responsibly. We have established a solid foundation for the future as a leading long-term supplier of copper to support a growing global economy and the transition to clean energy. We have successfully transitioned our Grasberg minerals district to be the world’s largest underground block-caving operation while maintaining excellent performance throughout our global operations. Our balance sheet is strong, and we are prepared to make value enhancing investments in our business while providing shareholders with increasing cash returns consistent with our established financial policy. The outlook for the copper market is extraordinarily positive. As a leader in the global copper industry, Freeport is well-positioned for success in generating value for all stakeholders.”
For full details, read the news release on FCX.com.