Brazil's Vale misses profit estimates for 4th quarter

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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