Vale reports Q3 2026 profit plunge and lower iron‑ore output while keeping 2026 production guidance
Vale posted third‑quarter net income of US$1.255 billion, a 53 % decline from a year earlier, as iron‑ore prices fell and costs rose. Revenue rose 2 % YoY to US$10.599 billion and pro‑forma EBITDA fell 20 % to US$3.508 billion. Iron‑ore production slipped 6 % YoY to 88.35 million tonnes, while pellet output grew 7 % YoY to 8.55 million tonnes. The company kept its full‑year iron‑ore production guidance of 335‑345 million tonnes unchanged.
Why it matters
The sharp profit drop signals tighter margins for the world’s largest iron‑ore miner, which could pressure Vale’s share price. Maintaining guidance suggests the company expects to meet its 2026 volume targets despite the current downturn, giving investors clarity on future production expectations. Free cash flow of US$2.23 billion provides liquidity to support dividend payments and debt servicing.
Key facts
- 1Q3 net income attributable to shareholders was US$1.255 billion, down 53 % YoY. riotimesonline.com
- 2Q3 net operating revenue increased 2 % YoY to US$10.599 billion. riotimesonline.com
- 3Pro‑forma EBITDA fell 20 % YoY to US$3.508 billion. riotimesonline.com
- 4Free cash flow for the quarter was US$2.23 billion. riotimesonline.com
- 5Iron‑ore production in Q3 was 88.35 million tonnes, down 6 % YoY. bigmint.co
- 6Pellet production in Q3 was 8.55 million tonnes, up 7 % YoY. bigmint.co
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.