Higher metal prices and improved operations drove Nexa’s earnings growth, offsetting tax payments and smelter disruptions.
Nexa Resources reported a 78% year-over-year increase in second-quarter adjusted EBITDA to $286 million, as revenue climbed 28% to $908 million. The gains were fueled by higher metal prices, recovering Peruvian mining operations, and stronger Brazilian smelter performance.
Net income reached $98 million, or $0.52 per share, with an adjusted EBITDA margin of about 31%. Zinc production rose 8% year over year, supported by a 44% increase in output at Aripuanã after commissioning a fourth tailings filter.
Despite a $131 million Peruvian tax-settlement payment and smelter disruptions from a fire at Cajamarquilla, Nexa maintained its full-year production and spending outlooks. Free cash flow was negative $10 million for the quarter.