Nexa Resources Reports Robust 3Q24 Financial Performance

Nexa Resources, a leading global zinc producer, announced gains in its financial results for 3Q24. The company reported a net income of $6 million, reversing a net loss of $64 million from the previous year. Adjusted EBITDA more than doubled to $183 million, benefiting from higher zinc prices and reduced expenses in mineral exploration and project evaluation. Despite an 11% drop from 2Q24, profits remained strong.

Sales rose, with net revenues totaling $709 million, marking a 9% increase compared to 3Q23 due to higher zinc and copper prices. Free cash flow reached $51 million, aided by strong operating cash flow and reduced CAPEX spending. However, it was affected by a $43 million negative working capital variation.

CEO Ignacio Rosado attributed these results to strong operational performance and favorable market conditions, including resilient zinc prices and improved operating efficiencies. Nexa's commitment to safety and sustainability is reflected in its reduced cash cost guidance along with strategic divestments.