Nexa Resources Sees 78% Jump in Q2 Adjusted EBITDA, Driven by Higher Metal Prices

Nexa Resources reported second-quarter 2026 adjusted EBITDA of $286 million, up 78% from the same period last year. Higher metal prices and improved operations in Peru and Brazil contributed to the increase. Net income was $98 million, or $0.52 per share, on net revenue of $908 million, which rose 28% from a year earlier.

Chief Executive Officer Ignacio Rosado said the company's adjusted EBITDA margin reached about 31%, supported by favorable pricing across its metal portfolio. Silver prices averaged 117% higher than in the second quarter of 2025, while zinc and copper prices also boosted revenue.

Nexa's mining performance improved, with zinc production totaling 79,000 tonnes during the quarter, an 8% year-over-year increase driven by higher ore grades at key operations. The company commissioned its fourth tailings filter at Aripuanã, which processed over 50,000 tonnes of tailings and supported average plant feed rates.

However, smelting zinc metal and oxide sales declined 7% from a year earlier due to a May fire at the Cajamarquilla smelter's casting house. Operations returned to normal levels in June, and management expects cathode inventory built during the disruption to support recovery of affected sales volumes in the second half.

Nexa maintained its full-year capital expenditure guidance of $381 million and its exploration and project-evaluation guidance of $86 million. The company also reviewed the long-term configuration of its Cerro de Pasco Integration Project, deferring Phase 2 to 2032 due to changes in its Atacocha open pit operations.