Vale Reports Record Proforma Adjusted EBITDA For Q1 - Quick Facts

(RTTNews) - Vale (VALE) reported first quarter net income to shareholders of $5.55 billion compared to $239 million, a year ago. Earnings per share was $1.09 compared to $0.05. Proforma adjusted EBITDA increased to $8.47 billion from $3.04 billion. Proforma adjusted EBITDA was a record for a first quarter, with seasonally lower volumes partially offset by higher commodity prices. The company reported $5.847 billion in free cash flow from operations.

First quarter net operating revenues were $12.65 billion compared to $6.97 billion, previous year.

"I am confident that our positive financial results reflect our consistency in delivering our promises in de-risking Vale," said Eduardo Bartolomeo, Chief Executive Officer.