Nexa Resources S.A. (NEXA) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Nexa Resources' second quarter 2026 earnings call. Thank you for joining us. Today, we will walk through the results we published yesterday. If you would like to follow along, the presentation is available through the webcast. Before we begin, please take a moment to look at slider number two. It contains our forward-looking statements disclaimer, and we ask that you review it along with the related risk factors. Here with me today are Ignacio Rosado, our CEO, José Carlos del Valle, our CFO, and Leonardo Coelho, our Senior Vice President of Mining Operations. Ignacio, over to you. Thank you Rodrigo and good morning everyone. Let me start on slide number three. The operational inflection we have been pursuing becomes visible this quarter. Adjusted EBITDA grew 78% year-over-year, $286 million, with a margin of about 31%. Net income was $98 million, or 52 cents per share. and Net Leverage continue coming down, closing the quarter at 1.4 times, a steep drop from where we were a year ago, supported by last 12 months adjusted EBITDA of over 1 billion. Three things drove the results. First, A constructive price environment across our entire metal mix, most notably silver, where prices averaged 117% above the second quarter of last year. The recovery of production at our Peruvian mines after the first quarter setbacks, as those assets returned to normal run rates. And third, better performance at our Brazilian smelters, including the contribution from byproducts, which partially offset the challenges at Cajamarquilla. Two milestones positioned us well for the second half of the year. Ataripuana, the fourth tailings filter, is now up and running. That removes a key, the bottom leg, and gives us more production flexibility going forward. ...