Brazilian mining giant Vale S.A. (VALE) reported fourth-quarter net profit of $4.67 billion, down from $5.92 billion in the prior year. Earnings per share for the quarter declined to $0.90 from $1.12 previous year.
The net profit declines was due to lower prices caused by the European recession and negative expectations produced by the euro-zone debt crisis, the company stated.
Gross operating revenues for the quarter slid to $14.76 billion from $15.21 billion a year earlier. Net operating revenue for the quarter fell to $14.43 billion from $14.93 billion last year.
Analysts polled by Thomson Reuters expected the company to earn $1.00 per share on revenue of $14.18 billion for the quarter. Analysts' estimates typically exclude special items
Operating income fell to $6.02 billion from $7.17 billion in the year-ago period.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.