Vale: Q3 net income rises 33.6% YoY but drops 48% compared to Q2

Vale ended the third quarter with a net income of US$ 3.886 billion, an increase of 33.6% compared to the same period last year. Compared to the second quarter, however, there was a drop of 48.7%.

The result was below the average profit estimate of US$ 4.834 billion compiled by Valor with six banks and brokerage firms.

The mining company’s net income was US$ 12.682 billion, a growth of 17.9% compared to the third quarter of last year. In comparison with the second quarter of 2021, however, there was a 23.9% reduction.

In the first nine months of this year, the gain reached US$ 17.018 billion, an increase of 311% compared to the same period in 2020.

In the balance sheet released on the 28th, Vale informed that the reduction in the result compared to the second quarter was directly related to the lower sale prices of ferrous minerals, leading to a reduction of US$ 3.891 billion compared to the previous quarter.

Source: Valor Econômico

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https://valor.globo.com/empresas/noticia/2021/10/28/vale-lucro-lquido-sobe-336-pontos-percentuais-no-3-tri-em-base-anual-para-us-3886-bi.ghtml

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