Brazil's Usiminas posts profit for 1st time in seven quarters
SAO PAULO Oct 30 (Reuters) - Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest producer of steel products for automakers, posted a third-quarter net income of 115 million reais ($53 million), the company's first quarter of profit in seven, according to a securities filing on Wednesday.
Usiminas kicked off the earnings season for Brazil's listed steelmakers. According to the forecasts of six analysts in a Thomson Reuters poll, the company earned 94 million reais. A seventh analyst in the poll estimated a net loss of 52 million reais in the quarter ended Sept. 30.