February 27, 2018 / 10:33 PM / 3 months ago

Brazil's Vale misses profit estimates for 4th quarter

RIO DE JANEIRO, Feb 27 (Reuters) - Brazil’s Vale SA posted net income that missed estimates in the fourth quarter of last year, the world’s largest iron ore producer said on Tuesday.

Vale said in a securities filing that net income totaled $771 million, compared with an average consensus estimate of $2.537 billion. The company had posted $525 million in profit during the same period last year.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) hit $4.109 billion, above a consensus estimate of $3.865 billion compiled by Thomson Reuters. (Reporting by Alexandra Alper Editing by James Dalgleish)

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