Seeking Alpha

Vale profit surges on strong production gains

  • Vale (VALE) reports Q3 net income of $3.5B, more than double the year-ago total of $1.64B, and an 11% Y/Y revenue increase to $12.9B, the result of strong production volumes, resilient prices and declining cash costs.
  • EBITDA, the closely-watched measure of a company's ability to generate cash profit from operations, surged 37% to $5.88B.
  • Iron ore shipments rose 7% to 83.63M metric tons; the average price for bulk iron ore rose 12% to $105.58/ton.
  • Sales of coal, magnesium, nickel, copper, gold, silver, cobalt and potash also were higher.

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Comments (1)
  • EuricoIFConsultant
    , contributor
    Comments (38) | Send Message
     
    Strong operational results. Low costs, good financial results just as consequences. Message to the bears, keep shorting and I will keep buying and getting fat dividends meanwhile.
    6 Nov 2013, 11:57 PM Reply Like
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