Vale S.A. reported second-quarter earnings per share of $0.32, significantly missing analyst estimates. Revenue reached approximately $10.5 billion, slightly exceeding market expectations. Higher costs, currency fluctuations, and derivative impacts drove the profit decline.
Iron ore production reached its highest second-quarter level since 2018. Copper output hit a nine-year high. Pro-forma EBITDA rose 19% year-over-year to $4.1 billion. Free cash flow grew 49% to $1.5 billion.
The board approved $1.7 billion in dividends following the strong cash generation. Vale also extended its current share buyback program.