Revenue growth accelerated to 41.7% in 2026Q1, supported by a gross margin expansion to 30.6% as the company effectively scales its production throughput.
| Sales/Revenue | 3.24B | 2.99B | 2.77B | 2.57B | 3.03B | 2.62B | 1.95B | 2.33B | 2.49B | 2.45B | 1.91B | 1.87B | 2.12B |
| Revenue Growth % | 15.3% | 8.23% | 7.51% | -15.19% | 15.71% | 34.4% | -16.37% | -6.36% | 1.7% | 28.06% | 2.55% | -11.95% | - |
| Cost of Goods Sold | 2.51B | 2.46B | 2.23B | 2.27B | 2.39B | 1.99B | 1.58B | 1.95B | 1.89B | 1.68B | 1.39B | 1.46B | 1.59B |
| COGS % of Revenue | - | 82.13% | 80.55% | 88.39% | 78.9% | 75.86% | 80.79% | 83.5% | 75.82% | 68.63% | 72.51% | 78.45% | 75.29% |
| Gross Profit | 733.72M | 535.01M | 538.07M | 298.88M | 640.05M | 633.09M | 374.77M | 384.89M | 602.26M | 768.28M | 525.74M | 401.89M | 523.44M |
| Gross Margin % | 22.62% | 17.87% | 19.45% | 11.61% | 21.1% | 24.14% | 19.21% | 16.5% | 24.18% | 31.37% | 27.49% | 21.55% | 24.71% |
| Gross Profit Growth % | - | -0.57% | 80.03% | -53.3% | 1.1% | 68.93% | -2.63% | -36.09% | -21.61% | 46.13% | 30.82% | -23.22% | - |
| Operating Expenses | 177.41M | 125.11M | 261.69M | 451.44M | 279.16M | 186.9M | 773.25M | 495.91M | 265.97M | 248.29M | 310.86M | 199.81M | 249.01M |
| OpEx % of Revenue | - | 4.18% | 9.46% | 17.54% | 9.2% | 7.13% | 39.64% | 21.26% | 10.68% | 10.14% | 16.25% | 10.71% | 11.76% |
| Selling, General & Admin | 147.09M | 141.6M | 119.95M | 122.57M | 140.88M | 129.54M | 139.39M | 216.51M | 159.6M | 237.48M | 217.95M | 190.86M | 242.88M |
| SG&A % of Revenue | - | 4.73% | 4.34% | 4.76% | 4.64% | 4.94% | 7.14% | 9.28% | 6.41% | 9.7% | 11.39% | 10.23% | 11.47% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | -16.49M | 141.73M | 328.86M | 138.27M | 57.36M | 633.86M | 279.4M | -6.44M | -103.52M | -51.83M | -33.18M | -63.91M |
| Operating Income | 556.31M | 409.9M | 276.39M | -152.56M | 360.9M | 446.19M | -398.48M | -111.03M | 334.55M | 401.58M | 129.97M | 163.93M | 172.28M |
| Operating Margin % | 17.15% | 13.69% | 9.99% | -5.93% | 11.9% | 17.02% | -20.43% | -4.76% | 13.43% | 16.39% | 6.79% | 8.79% | 8.13% |
| Operating Income Growth % | - | 48.31% | 281.16% | -142.27% | -19.12% | 211.97% | -258.91% | -133.19% | -16.69% | 208.98% | -20.72% | -4.85% | - |
| EBITDA | 903.44M | 766.51M | 620.57M | 157.91M | 653.04M | 704.9M | -154.56M | 206.87M | 602.3M | 683.1M | 482.57M | 459.19M | 491.31M |
| EBITDA Margin % | 27.85% | 25.6% | 22.43% | 6.14% | 21.52% | 26.88% | -7.92% | 8.87% | 24.18% | 27.89% | 25.23% | 24.62% | 23.19% |
| EBITDA Growth % | 55.35% | 23.52% | 292.98% | -75.82% | -7.36% | 556.08% | -174.71% | -65.65% | -11.83% | 41.55% | 5.09% | -6.54% | - |
| D&A (Non-Cash Add-back) | 347.13M | 356.61M | 344.18M | 310.48M | 292.14M | 258.71M | 243.93M | 317.89M | 267.75M | 281.52M | 352.61M | 295.26M | 319.03M |
| EBIT | 738.08M | 606.57M | 264.31M | -105.05M | 380.01M | 438.97M | -548.76M | -127.7M | 246.26M | 368.09M | 259.43M | -145.18M | 51.12M |
| Net Interest Income | -260.69M | -262.99M | -198.34M | -179.21M | -151.78M | -136.2M | -137.13M | -90.99M | -51.62M | -97.69M | -57.45M | -51.49M | -64.88M |
| Interest Income | 15.61M | 11.82M | 11.85M | 6.13M | 16.91M | 6.07M | 8.15M | 26.41M | 26.03M | 3.63M | 10.09M | 7.09M | 3.41M |
| Interest Expense | 276.3M | 274.82M | 210.55M | 185.33M | 168.69M | 142.28M | 145.28M | 117.4M | 84.94M | 64.62M | 36.34M | 33.07M | 45.91M |
| Other Income/Expense | -78.79M | -78.15M | -348.24M | -143.52M | -132.93M | -136.9M | -278.18M | -104.85M | -202.65M | -125.97M | 64.43M | -354.21M | -200.21M |
| Pretax Income | 477.52M | 331.75M | -71.85M | -296.08M | 227.97M | 309.29M | -676.66M | -215.88M | 131.9M | 271.46M | 208.89M | -178.26M | 5.21M |
| Pretax Margin % | 14.72% | 11.08% | -2.6% | -11.51% | 7.51% | 11.8% | -34.68% | -9.25% | 5.29% | 11.08% | 10.92% | -9.56% | 0.25% |
| Income Tax | 165.05M | 108.61M | 115.56M | -4.27M | 150.98M | 153.2M | -24.15M | -58.36M | 40.92M | 106.19M | 98.38M | -38.78M | 27.49M |
| Effective Tax Rate % | 34.56% | 32.74% | -160.83% | 1.44% | 66.23% | 49.53% | 3.57% | 27.04% | 31.03% | 39.12% | 47.1% | 21.75% | 527.8% |
| Net Income | 210.08M | 132.63M | -205.03M | -291.97M | 49.7M | 114.33M | -559.25M | -145.13M | 74.86M | 126.89M | 93.17M | -129.46M | -33.84M |
| Net Margin % | 6.48% | 4.43% | -7.41% | -11.35% | 1.64% | 4.36% | -28.67% | -6.22% | 3% | 5.18% | 4.87% | -6.94% | -1.6% |
| Net Income Growth % | 224.45% | 164.69% | 29.78% | -687.52% | -56.53% | 120.44% | -285.33% | -293.88% | -41% | 36.19% | 171.97% | -282.53% | - |
| Net Income (Continuing) | 312.47M | 223.14M | -187.41M | -291.81M | 76.99M | 156.09M | -652.51M | -157.52M | 90.98M | 165.26M | 110.67M | -139.48M | -22.28M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -62K | 0 |
| Minority Interest | 306.56M | 286.63M | 246.36M | 254.71M | 268.01M | 258.01M | 243.8M | 372.61M | 425.21M | 422.07M | 476.34M | 943.1M | 1.63B |
| EPS (Diluted) | 1.59 | 1.00 | -1.55 | -2.18 | 0.58 | 1.18 | -4.93 | -1.20 | 0.56 | 1.42 | 0.83 | -1.15 | -0.30 |
| EPS Growth % | 224.33% | 164.52% | 28.9% | -475.86% | -50.85% | 123.94% | -310.83% | -314.29% | -60.56% | 71.08% | 172.17% | -283.33% | - |
| EPS (Basic) | - | 1.00 | -1.55 | -2.18 | 0.58 | 1.18 | -4.93 | -1.20 | 0.56 | 1.42 | 0.83 | -1.15 | -0.30 |
| Diluted Shares Outstanding | 132.44M | 132.44M | 132.44M | 132.44M | 132.44M | 132.44M | 132.44M | 132.62M | 133.31M | 116.53M | 112.82M | 112.82M | 112.82M |
| Basic Shares Outstanding | 132.44M | 132.44M | 132.44M | 132.44M | 132.44M | 132.44M | 132.44M | 132.62M | 133.31M | 116.53M | 112.82M | 112.82M | 112.82M |
| Dividend Payout Ratio | - | 25.84% | - | - | 137.77% | 45.78% | - | - | 4.64% | - | 64.04% | - | - |
Commodity price and regional volatility
According to the latest quarterly financial data, Nexa Resources achieved a significant revenue acceleration to $888.3 million in 2026Q1, representing a 41.7% year-over-year growth rate, which suggests that the company is successfully transitioning its Aripuanã project into a more meaningful contributor to the consolidated top-line performance.
The sharp uptick in revenue growth appears to be driven by a combination of increased production volumes and favorable pricing environments for base metals. Investors should monitor whether this growth trajectory remains sustainable as the company moves past the initial ramp-up phase and faces potential headwinds from global industrial demand fluctuations.
As reported in recent income statements, Nexa's gross margin expanded to 30.6% in 2026Q1, a notable improvement from the 17.8% observed in 2024Q3, indicating that the company is effectively managing its cost of goods sold despite the inherent cyclicality of the zinc and lead markets.
This margin expansion suggests that the company may be benefiting from improved operational efficiencies or a favorable shift in the mix of internal versus third-party concentrate processing. However, the historical volatility in these margins warrants further investigation into the sensitivity of the smelting segment to energy costs and treatment charge fluctuations.
Based on the provided financial figures, operating income reached $218.1 million in 2026Q1, demonstrating a significant improvement in operating leverage as the company's operating margin climbed to 24.5%, suggesting that fixed costs are being spread more efficiently across a larger base of production and refined metal output.
The ability to scale operating income faster than revenue growth implies that management has achieved better control over overhead and administrative expenses during the recent expansion phase. Analysts should remain cautious, as this leverage could work in reverse if production volumes at key assets face unexpected disruptions or if inflationary pressures on labor and energy intensify.
Financial disclosures indicate that Nexa has successfully transitioned from a period of net losses in 2024 to a net income of $89.3 million in 2026Q1, reflecting a stabilization in bottom-line performance that appears to be supported by stronger operational results rather than non-operating or one-time accounting gains.
The shift to consistent profitability suggests that the company is moving past the heavy capital expenditure and startup costs associated with its recent project developments. Investors should continue to scrutinize the tax rate and potential non-operating items to ensure that this earnings quality remains robust and is not overly dependent on favorable currency fluctuations or temporary accounting adjustments.
Quick answers to the most common questions about buying NEXA stock.
For fiscal year 2025, Nexa Resources S.A. (NEXA) reported total revenue of $2.99B. This represents a 41.3% increase compared to $2.12B in 2014.
Nexa Resources S.A. (NEXA) is profitable, generating $132.6M in net income for the fiscal year ending 2025 with a net profit margin of 4.4%.
Nexa Resources S.A. (NEXA) reported an operating income of $409.9M, resulting in an operating profit margin of 13.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Nexa Resources S.A. (NEXA) generated $535.0M in gross profit for the year, representing a gross profit margin of 17.9%. This demonstrates the company's core pricing power and production efficiency.