Education
About Us
Working with TipRanks
Follow Us
Vale SA (VALE)
NYSE:VALE
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.46Last Year’s EPS
0.33Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution across iron ore and Base Metals, notable production and profitability gains (Q4 pro forma EBITDA +17% YoY, iron ore production +3%, copper +10%, nickel +11%), meaningful cost and CapEx discipline, and sizable shareholder returns (16% dividend yield). Management acknowledged some short-term cost and price volatility (Q4 C1 up 13% YoY, realized price swings, localized operational incidents) and remaining challenges in fully derisking investor restrictions and pushing nickel to the lower half of the cost curve. Overall, the positives — consistent outperformance vs. guidance, material cost and capital optimizations, robust cash generation, and visible low‑capital growth projects — markedly outweigh the challenges discussed.Company Guidance
Safety Improvements
21% reduction in high-potential incidents in 2025, continued progress on safety culture and focus on accident-free environment.
Tailings Dam Milestones
Eliminated all dams classified at emergency level 3 by 2025 (commitment fulfilled); 77% reduction in structures at any emergency level vs. 2020, with an expected 86% reduction by end-2026.
Reparations Progress
Reached 81% execution of the Brumadinho agreement and disbursed BRL 73 billion under the Mariana agreement, advancing reparations efforts materially.
Iron Ore Production Growth
Iron ore production reached 336 million tonnes in 2025, up 3% year-on-year — the highest level since 2018 — driven by start-ups (Capanema, Vargem Grande) and strong performance at Brucutu and S11D.
Base Metals Production Growth
Vale Base Metals delivered double-digit growth: copper production 382 kt in 2025 (+10% YoY) and nickel production 177 kt in 2025 (+11% YoY), supported by Voisey's Bay expansion and Onça Puma furnace 2.
Material Cost Reductions in Base Metals
Management reported substantial all-in cost improvements: copper all-in moved down by roughly $2,000/ton to about -$900/ton (reflecting strong byproduct credits) and nickel all-in improved to approximately $9,000/ton (management cited a ~35% YoY decline).
Iron Ore Cost Competitiveness
Iron ore all-in cost around $54/ton in 2025, a $2/ton YoY reduction despite weaker pellet premiums; company reiterates position at very low end of global industry cost curve.
Strong Quarterly and Segment EBITDA
Pro forma EBITDA in Q4 2025: $4.8 billion (+17% YoY, +10% QoQ). Vale Base Metals EBITDA doubled YoY and sequentially to $1.4 billion in the quarter; iron ore EBITDA remained a solid ~$4.0 billion.
Robust Cash Generation and Balance Sheet
Recurring free cash flow in Q4 ~ $1.7 billion (more than double YoY). Expanded net debt closed at $15.6 billion, inside target range ($10–20B).
Disciplined Capital Allocation & Shareholder Returns
Annual CapEx in 2025 of $5.5 billion (in line with guidance); long-term CapEx guidance set below $6 billion after an annual CapEx optimization > $500 million. Announced $2.8 billion in dividends/interest on capital and delivered a 2025 dividend yield of 16%.
Growth Projects and Novo Carajás
Novo Carajás program launched to double copper output; Bacaba received construction license in Jan (start-up expected H1 2028, 50 ktpa copper). Serra Sul +20 Mt iron ore project to begin commissioning in H2 2026.
VALE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VALE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $17.04 | $16.65 | -2.29% |
Oct 30, 2025 | $11.34 | $11.53 | +1.68% |
Jul 31, 2025 | $8.84 | $9.00 | +1.89% |
Apr 24, 2025 | $9.04 | $8.81 | -2.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Vale SA (VALE) report earnings?
Vale SA (VALE) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is Vale SA (VALE) earnings time?
Vale SA (VALE) earnings time is at Apr 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VALE EPS forecast?
VALE EPS forecast for the fiscal quarter 2026 (Q1) is 0.46.