Nexa Q1 Net Income $118M (+311% YoY); Adj. EBITDA $283M (+126% YoY)
Nexa Resources reported a strong first quarter 2026, with net income soaring 311% year-over-year to US$118 million and Adjusted EBITDA increasing 126% to US$283 million. Net revenues rose 42% year-over-year to US$888 million, driven by higher metal prices, particularly silver, and increased smelting sales volume. Despite sequential production declines in Peru due to temporary issues, the company reaffirmed its 2026 guidance for production, CapEx, and costs, anticipating improved cash generation from Q2 2026 with the Cerro Lindo silver streaming agreement transition. The company also announced the retirement of its SVP of Smelting and Commercial, Mauro Boletta, and received reaffirmed investment-grade credit ratings from Fitch.
Key Highlights
- Net Income: US$118 million, up 311% YoY and 46% QoQ.
- Adjusted EBITDA: US$283 million, up 126% YoY, down 6% QoQ.
- Net Revenues: US$888 million, up 42% YoY, down 2% QoQ.
- EPS: US$0.67, up 654% YoY and 77% QoQ.
- Cerro Lindo silver streaming agreement: streamed share reduced from 65% to 25% from 2Q26.
- Net Leverage: Improved to 1.59x from 2.09x YoY.
- 2026 Guidance: Reaffirmed for production, CapEx, and costs.
- Mineral Reserves: Increased 4.4% to 115.1 million tonnes; LOM extended at 4 operations.