Vale reported a profit of US$ 4.445 billion in the third quarter of this year, an increase of 14.6% over the same period in 2021 and 8.8% over the second quarter of this year, according to a quarterly report released this Thursday ( 27) by the company after the market closes.
Ebitda (earnings before interest, taxes, depreciation and amortization), of US$ 4.002 billion, was 43.4% below the same range of 2021 and 27.6% below the second quarter.
The result came down with the Broadcast Previews, which was supported by the averages of Santander, Itaú BBA, Citi, Bank of America and XP Investimentos. For Ebitda, the expectation was for a decline to US$ 4.514 billion.
Net revenue of US$9.929 billion is 19.7% lower than in the third quarter of 2021 and 11% lower than in the second quarter of this year. The value is slightly below the forecast by analysts, of US$ 10.07 billion.
Free cash flow of $2.164 billion was down 72% from the third quarter of 2021.
In his message, Vale CEO Eduardo Bartolomeo highlighted that the mining company remains focused on cost discipline and improving operational reliability. He also highlighted the operational performance, with iron ore production reaching 90 Mt and nickel and copper volumes increasing considerably.
Regarding the dams, Bartolomeo stressed that Vale continues to de-characterize dams: for this year, the goal is to dismantle five, totaling 12 since 2019, equivalent to 40% of the program.
The iron ore price, a decisive factor for the result, stood at 92.6/t, within expectations, compared to US$ 127.2/t a year ago.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
