April 25, 2018 / 10:26 PM / a year ago

Brazil's Vale posts weaker-than-expected 1st-qtr profit

RIO DE JANEIRO, April 25 (Reuters) - Vale SA, the world’s largest iron ore producer, posted first-quarter net income that missed estimates, results showed on Wednesday.

In a securities filing, Vale said quarterly net income totaled $1.59 billion, compared with a consensus estimate of $1.926 billion and profit of $2.49 billion in the first quarter a year ago.

Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, slumped to $3.971 billion, below a consensus estimate of $4.387 billion compiled by Thomson Reuters and the $4.308 billion posted in the year-ago quarter. (Reporting by Marta Nogueira and Alexandra Alper, editing by G Crosse)

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