Investing.com -- Freeport-McMoran reported a jump in its first-quarter profit on strong commodities tailwinds induced by Iran war.

Commodity prices have risen up significantly over the past few months as U.S.-Iran war has resulted in heightened volatility in global markets as well as blockade of key shipping route of Strait of Hormuz has dented supply chains of key commodities like copper, oil, and natural gases.

FCX said net income attributable to common stock in first-quarter 2026 totaled $881 million, $0.61 per share, and adjusted net income attributable to common stock totaled $830 million, $0.57 per share.

Shares in the company were down 7.6% pre-market, Thursday.