Vale's profit falls 53% in Q3 on lower iron ore prices, higher costs
VALE•Vale's third-quarter net profit fell 53% year over year to $1.26 billion, below analysts' $1.70 billion estimate, as lower iron ore prices and higher costs weighed on results.
1. Profit and output decline
Vale reported third-quarter net profit of $1.26 billion, down 53% from a year earlier and below the $1.70 billion analyst consensus. Iron ore output fell 6% to 88.4 million metric tons, below the 90.1 million-ton consensus, amid weaker results at its Serra Norte complex.
2. EBITDA and outlook
Adjusted EBITDA dropped 24% to $3.33 billion, compared with analysts' $3.50 billion consensus. Vale said it is confident it will reach the lower end of its 2026 output projection of 335 million to 345 million tons.
