Nexa Resources reported third‑quarter 2025 results, posting net income of $100 million, up from $13 million in Q2 2025 and $6 million in Q3 2024. Adjusted net income was $27 million, and adjusted EBITDA reached $186 million, compared with $161 million in Q2 2025 and $183 million in Q3 2024. Net revenues totaled $764 million, an 8 % increase over $708 million in Q2 2025 and $709 million in Q3 2024.
The company attributed the gains to higher mining output, increased smelting sales volume, and stronger by‑product contributions excluding copper. Copper production fell 6 % quarter‑over‑quarter and 8 % year‑over‑year to 9 kt, mainly due to lower output at Cerro Lindo. Zinc production at Aripuanã reached a record level, driven by stable operations and higher throughput. The 3 % appreciation of the Brazilian real against the U.S. dollar and favorable metal prices also supported the results. A non‑cash impairment reversal at Cerro Pasco contributed $30 million to earnings.
Nexa’s net debt stood at $1,479 million at the end of Q3 2025, giving a net debt/adjusted EBITDA ratio of 2.2x, an improvement from 2.4x in the prior quarter. The company reaffirmed its $347 million capex guidance for 2025, unchanged from the February 2025 update, and maintained its production guidance. Phase I of the Cerro Pasco Integration Project remains on schedule for 2026 commissioning, and exploration spending continues to support long‑term growth.
CEO Ignacio Rosado highlighted disciplined capital allocation and execution capacity as key drivers of the strong performance. He noted that while the company benefited from operational gains, it also faced headwinds from higher maintenance costs and lower treatment charges, which partially offset year‑over‑year gains.
Some analysts had projected a loss for the quarter, but the company reported a net income of $100 million, exceeding those expectations.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.