Vale (VALE.US) Q3 net profit halved year-on-year to $1.26 billion; both volume and price of iron ore dropped, but revenue still exceeded expectations

Smart Finance APP has learned that VALE.US, one of the world’s largest iron ore producers and a giant Brazilian mining company, released its Q3 2026 financial report after market close on Thursday, October 29 (local time). Dragged down by lower realized iron ore prices and rising shipping costs, the company’s net profit for the quarter plummeted 53% year-on-year, missing market expectations. However, net revenue surpassed analyst forecasts, and the full-year production guidance was reaffirmed. Notably, starting this quarter, VALE changed its previous practice of releasing production and sales data before publishing financial reports. For the first time, it released production data and financial results simultaneously, aiming to provide a more integrated view of its performance. After the financial results were announced, its US stock ADR fell sharply under pressure.