Brazil's Votorantim profit climbs on lower debt and weaker currency [Reuters]
Nexa Resources S.A. Common Shares (NEXA)
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Source: Reuters
Brazil's Votorantim profit climbs on lower debt and weaker currency SAO PAULO, Aug 15 (Reuters) - Votorantim SA, one of Brazil’s largest diversified conglomerates, on Thursday reported a significant increase in second-quarter profit, helped by lower debt servicing expenses. Net income came in at 225 million reais ($56 million) in the period, up 54% from 146 million reais a year ago. In a statement, Votorantim said a weaker Brazilian currency also helped net income, as results from international operations are consolidated in reais. Votorantim’s revenue remained stable in the period, at 7.9 billion reais, as zinc and aluminum prices dropped and demand for the group’s products remained weak in Brazil. “The group’s revenue is tied up with Brazil’s GDP and economic recovery remains sluggish,” Chief Financial Officer Sergio Malacrida told Reuters. “So there is no relevant pick-up in volumes.” Votorantim’s businesses include Nexa Resources, cement, aluminum, energy, steel, orange juice, mid
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News
- Nexa Resources S.A. (NYSE: NEXA) had its price target lowered by analysts at BMO Capital Markets from $7.50 to $7.00. They now have a "market perform" rating on the stock.MarketBeat
- Nexa Reports First Quarter 2024 Results Including Net Loss of US$11 Million and Adjusted EBITDA of US$123 Million [Yahoo! Finance]Yahoo! Finance
- Nexa Reports First Quarter 2024 Results Including Net Loss of US$11 Million and Adjusted EBITDA of US$123 MillionAccesswire
- Nexa Resources Publishes Its 2023 Sustainability ReportAccesswire
- Are Basic Materials Stocks Lagging Buenaventura Mining (BVN) This Year? [Yahoo! Finance]Yahoo! Finance
NEXA
Earnings
- 5/2/24 - Miss
NEXA
Sec Filings
- 5/2/24 - Form 6-K
- 5/2/24 - Form 6-K
- 5/2/24 - Form 6-K
- NEXA's page on the SEC website