Nexa Posts $286 Million in Adjusted EBITDA in Q2, Up 78%
Key Facts
Nexa Resources reported adjusted EBITDA of $286 million in the second quarter of 2026, up 78% from the same period a year earlier, according to a company filing with the U.S. Securities and Exchange Commission. The results followed a return of the company’s Peruvian assets to normal operating levels after temporary constraints that limited operations in the first quarter were addressed. The company said ore processed rose 11% in the second quarter. Adjusted EBITDA margin also widened 8.8 percentage points to 31.5%. These figures provide operational context for the third quarter, while the disclosures available here did not include confirmed results for that period.
Net income also improved, reaching $97.9 million in the second quarter of 2026, compared with $13.3 million in the second quarter of 2025, according to filing data. The comparison reflects a significant increase between the periods, alongside growth in adjusted EBITDA and a wider margin. But net income and adjusted EBITDA are different measures, and the filing cited here does not detail specific factors linking the change in the former to particular drivers. The clearest figure on operating performance in the comparison is therefore the increase in adjusted EBITDA margin to 31.5%. The company had said the return of its Peruvian assets to usual operating levels helped lift ore processed.
The company reported revenue of $907.9 million in the three months ended June 30, 2026, compared with $708.4 million in the same period of 2025, according to its filing with the U.S. regulator. The comparison puts revenue growth in the context of stronger performance during the quarter, alongside higher ore processed and an improved margin. The filing said temporary constraints that affected Peruvian operations in the first quarter had been addressed and the assets had returned to normal operating levels. The company also linked the 11% increase in ore processed to that recovery. The available evidence provided no further details on the contribution of prices or different products to the change in revenue.
For the following period, Nexa kept its 2026 mining production guidance for all metals unchanged and said consolidated production is expected to improve in the third quarter compared with the second quarter across all metals, supported by higher productivity. This indicates the company based its outlook on continued productivity improvement after addressing constraints that affected Peruvian operations early in the year. The quarter-on-quarter comparison matters in light of the 11% rise in ore processed in the second quarter, alongside the return of the assets to normal operating levels. The available information did not include any changes to annual production targets or quantitative figures for the third-quarter outlook. This guidance remains separate from third-quarter results, which were not confirmed in the evidence provided.
The company had scheduled its results conference for Friday, October 30, 2026, at 08:30 a.m. New York and Toronto time and 09:30 a.m. São Paulo time, according to its investor relations website. The date follows Nexa shares’ recorded close at $11.82 on October 28, according to EL7 data. The data provided did not include the stock’s trading range that day. The conference is expected to give management an opportunity to present and discuss the company’s results, as Nexa has kept its annual mining production guidance unchanged. It will also be the next announced opportunity to obtain further details on the results.