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Brazil's Vale profit surges in Q3, misses estimates
October 26, 2017 / 9:24 AM / in 23 days

Brazil's Vale profit surges in Q3, misses estimates

RIO DE JANEIRO, Oct 26 (Reuters) - Brazil’s Vale SA posted net income that fell short of estimates in the third quarter, the world’s largest iron ore producer said on Thursday.

In a securities filing, Vale said net income totaled $2.23 billion, compared with an average consensus estimate of $2.439 billion. The company had posted $575 million in profit during the same period last year.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) hit $4.192 billion, just below a consensus estimate of $4.384 billion compiled by Thomson Reuters. (Reporting by Alexandra Alper; editing by Alexander Smith)

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