April 20, 2017 / 11:17 AM / 3 months ago

Brazil's Usiminas reverses loss as steelmaking revenues rise

1 Min Read

SAO PAULO, April 20 (Reuters) - Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest listed maker of flat steel, reversed a loss in the first quarter in the wake of price hikes and a 4 percent climb in sales volumes.

Net income at Usiminas came in at 108 million reais ($34 million), compared with a fourth-quarter shortfall of 195 million reais, according to a securities filing on Thursday. Earnings before interest, tax, depreciation and amortization fell 10 percent to 528 million reais from the prior three months, the statement said

$1 = 3.1505 reais Reporting by Guillermo Parra-Bernal; Editing by Lisa Von Ahn and Chizu Nomiyama

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below