February 14, 2020 / 11:24 AM / in 8 days

Brazilian steelmaker Usiminas beats forecasts despite a 33% drop in Q4 profit

SAO PAULO, Feb 14 (Reuters) - Brazilian steelmaker Usiminas SA on Friday reported a 33% year-on-year fall in fourth-quarter net income but beat market expectations.

Net profit fell to 268 million reais ($61.6 million), the company said in a securities filing, beating the 52.3 million reais expected by analysts, Refinitiv Eikon data showed.

$1 = 4.3503 reais Reporting by Gabriela Mello; editing by Jason Neely

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