Vale S.A. (VALE - Free Report) shares have gained 2.3% since it reported third-quarter 2020 adjusted earnings per share of 84 cents that improved 133% from the prior-year quarter. The bottom line figure also beat the Zacks Consensus Estimate of 72 cents. The better-than-expected performance was primarily driven by a 26% increase in iron ore prices and 20% higher sales volumes in the quarter under review.
Including one-time items, Vale reported earnings per share of 57 cents in the quarter compared with 32 cents in the prior-year quarter.
Revenues
Net operating revenues increased 5% year over year to around $10.76 billion. The top line lagged the Zacks Consensus Estimate of $10.82 billion.
Of the total net operating revenues, sales of ferrous minerals accounted for 80.7%, base metals comprised 17.7%, coal contributed 1%, and the remaining 0.7% was sourced miscellaneously.
Geographically, 72.5% of revenues were generated from Asia, 13.0% from Europe, 8.0% from South America, 2.6% from North America, 2.3% from the Middle East, and 1.6% from Rest of the World.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Vale S.A. (VALE - Free Report) shares have gained 2.3% since it reported third-quarter 2020 adjusted earnings per share of 84 cents that improved 133% from the prior-year quarter. The bottom line figure also beat the Zacks Consensus Estimate of 72 cents. The better-than-expected performance was primarily driven by a 26% increase in iron ore prices and 20% higher sales volumes in the quarter under review.
Including one-time items, Vale reported earnings per share of 57 cents in the quarter compared with 32 cents in the prior-year quarter.
Revenues
Net operating revenues increased 5% year over year to around $10.76 billion. The top line lagged the Zacks Consensus Estimate of $10.82 billion.
Of the total net operating revenues, sales of ferrous minerals accounted for 80.7%, base metals comprised 17.7%, coal contributed 1%, and the remaining 0.7% was sourced miscellaneously.
Geographically, 72.5% of revenues were generated from Asia, 13.0% from Europe, 8.0% from South America, 2.6% from North America, 2.3% from the Middle East, and 1.6% from Rest of the World.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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