Vale S.A. Q1 2026 Earnings Release

Vale S.A. reported a solid start to 2026 with a 14% increase in net operating revenues to US$9,258 million in Q1 2026 compared to Q1 2025. Adjusted EBITDA rose by 23% year-on-year to US$3,830 million, driven by improved sales performance across all segments and favorable commodity prices. Iron ore, copper, and nickel sales volumes increased by 4%, 11%, and 15% respectively. The company achieved a 61% increase in free cash flow to US$813 million. Vale also made progress in its ESG initiatives, including lifting the emergency level status for two dams and advancing decarbonization efforts with the announcement of ethanol-powered vessels. The company is on track with its strategic projects, including the Serra Sul +20 project, and continues its risk management strategies, such as hedging bunker oil consumption. Reparation efforts for Brumadinho and Mariana are ongoing, with significant progress reported.