Vale (VALE.US) Q3 net profit halved year-on-year to $1.26 billion as iron ore prices and volumes both fell; revenue still beat expectations.

Zhitong Finance APP has learned that Vale (VALE.US), one of the world's largest iron ore producers and a Brazilian mining giant, released its third-quarter 2026 financial report after the market close on Thursday, October 29, local time. Dragged down by lower realized iron ore prices and higher freight costs, the company's net profit for the quarter fell sharply by 53% year-on-year, missing market expectations; however, net revenue beat analysts' expectations, and its full-year production guidance was reiterated. It is worth noting that starting this quarter, Vale changed its previous practice of first disclosing production and sales data and then releasing its financial report, and for the first time released production data simultaneously with financial results to provide a more integrated view of performance. After the financial report was released, its U.S.-listed ADR came under noticeable pressure and moved lower.