Earnings ·
Vale reports $1.3B net income for Q3 2026 as iron ore prices fall
VALEVale S.A.
Vale S.A. reported third-quarter net income attributable to shareholders of US$1.3 billion, a 53% decline year-over-year from US$2.7 billion. Proforma EBITDA fell 20% to US$3.5 billion, primarily driven by lower iron ore realized prices and higher costs due to BRL appreciation and freight expenses. Copper operations saw strong momentum with record production at Salobo, while nickel output increased 6%. The company reaffirmed its full-year production guidance for copper and nickel in the upper half of ranges. Vale operates as a global mining company focused on iron ore, base metals, and nickel.