Nexa Resources Earnings Call Transcripts
Fiscal Year 2026
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Adjusted EBITDA more than doubled year-over-year to $283 million, driven by higher metal prices, improved operations, and record production at Aripuanã. Net leverage fell to 1.59x, and free cash flow is expected to strengthen as working capital unwinds.
Fiscal Year 2025
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Q4 and full-year 2025 saw strong operational and financial results, with record zinc production, improved margins, and disciplined cost management. Net leverage improved to 1.7x, and major projects like Aripuanã and Cerro Pasco are progressing on schedule.
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Q3 2025 saw strong operational and financial results, with higher mining and smelting output, improved cash flow, and progress on key projects like Aripuanã and Cerro Pasco. Liquidity and leverage improved, while disciplined capital allocation and ESG leadership remain priorities.
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Q2 2025 saw a 13% sequential revenue increase and 28% higher adjusted EBITDA, driven by improved sales and by-product prices, despite operational challenges at Aripuanã and Vazante. Strategic projects and exploration advanced, with financial flexibility enhanced through successful liability management.
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Q1 2025 saw lower production and sales due to weather and market volatility, but higher metal prices supported revenues. Adjusted EBITDA was $125 million, with negative free cash flow from seasonal working capital outflows. Guidance and long-term project investments remain on track.
Fiscal Year 2024
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Adjusted EBITDA rose 76% to $714M in 2024, with strong cash flow and improved leverage. Aripuanã and Cerro de Pasco projects advanced, and a new dividend policy was adopted. Outlook for 2025 is positive, with higher production and disciplined capital allocation.
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Q3 2024 saw strong operational and financial performance, with net revenues up 9% year-over-year and Adjusted EBITDA more than doubling. Aripuanã delivered positive cash flow, while portfolio optimization and disciplined capital allocation continued. Zinc market fundamentals remain robust amid tight supply.
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Q2 2024 saw strong revenue and EBITDA growth, improved leverage, and positive cash flow, driven by higher metal prices, operational improvements, and the ramp-up of Aripuanã. CapEx and cost guidance remain unchanged, with a focus on debt reduction, portfolio optimization, and advancing the Cerro Pasco project.