Vale third quarter profit falls 53 percent, misses forecasts

Vale's third quarter net profit fell 53 percent year on year to 1.26 billion dollars, missing the 1.70 billion dollar Visible Alpha consensus, as lower iron ore prices and higher costs, including freight, weighed on the Brazilian miner.

Why it matters: Vale is the world's largest iron ore producer, and a production shortfall at Serra Norte alongside a profit miss against consensus keeps pressure on iron ore supply expectations and on the miner's cost line into the final quarter.

Data as of Vale's third quarter 2026 results as reported by Reuters via Mining Weekly on October 29, 2026, read in full in the previous catalyst run and carried into this one at that run's handover note. Consensus figures are Visible Alpha's, as reported there. Developing item.

Vale’s net profit fell 53 percent year on year in the third quarter to 1.26 billion dollars, below the 1.70 billion dollar consensus compiled by Visible Alpha, Reuters reported. Adjusted earnings before interest, tax, depreciation and amortisation fell 24 percent to 3.33 billion dollars, against a 3.50 billion dollar consensus, with the decline attributed to lower iron ore prices and higher costs, including freight.

Iron ore production fell 6 percent to 88.4 million tonnes, below the 90.1 million tonne consensus, on weaker results at Serra Norte. Vale said it remains confident of reaching the lower end of its 2026 output guidance range of 335 million to 345 million tonnes.

Vale third quarter profit falls 53 percent, misses forecasts

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