VALE, US91912E1055

Vale stock: Q3 profit tumbles as iron ore output misses forecast

Published on 10/30/2026 at 17:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vale reported a sharp third-quarter profit decline as iron ore output fell short of forecasts. Vale stock now faces a lower-end 2026 production outlook.

Vale reports weaker quarter and output pressure

Vale's third-quarter profit declined as lower iron ore prices and higher freight and fuel costs pressured results.
Iron ore production missed forecasts, while copper and nickel output remained on track for the upper end of annual guidance.
The company expects to reach the lower end of its 2026 iron ore production range.

VALE, US91912E1055, Illustration mit AI erstellt.

Vale reported a weaker third quarter on Thursday, October 29, 2026, as lower iron ore prices and higher freight and fuel costs cut profitability. Reuters reported that the miner's net profit fell 53 percent year over year to USD 1.26 billion, while iron ore production missed market expectations.

Lower profit meets output pressure

Pro forma adjusted EBITDA fell 20 percent to USD 3.51 billion, in line with expectations, according to Reuters. Net revenue rose 2 percent to USD 10.6 billion, helped by gains in the copper and nickel businesses.

Iron ore output declined 6 percent to 88.4 million metric tons, below the Visible Alpha consensus of 90.1 million metric tons. Vale attributed the shortfall to lower run-of-mine supply at its Serra Norte complex in Brazil. The company said it remained confident of reaching the lower end of its 2026 iron ore production guidance of 335 million to 345 million metric tons.

Costs remain a key investor focus

The average realized price for iron ore fines fell 10 percent to USD 85 per ton, while total costs for iron ore fines rose 23 percent. Vale also said its Fábrica mine resumed operations in September after being halted earlier in the year.

The real-time quote of Vale stock stood at EUR 10.23 on Lang & Schwarz at 17:36 CET on Friday, October 30, 2026, up 1.79 percent from EUR 10.05 at 17:49 CET on Thursday, October 29, 2026.