SAO PAULO (Reuters) - Fibria SA, the world’s largest eucalyptus pulp producer, missed first-quarter profit estimates on Tuesday, reflecting declining output and revenues in the wake of higher unit costs.
Net income at São Paulo-based Fibria (FIBR3.SA) totaled 329 million reais ($105 million) last quarter, reversing a loss of 92 million reais in the fourth quarter. Analysts projected an average profit of 399 million reais for the January-through-March period, according to data compiled by Thomson Reuters.
Adjusted earnings before interest, tax, depreciation and amortization, a gauge of operating profit known as EBITDA, came in at 644 million reais in the first quarter, down 20 percent from the prior three months. The consensus estimate for the indicator was an average 963.45 million reais.
($1 = 3.1470 reais)
Reporting by Guillermo Parra-Bernal; Editing by Sandra Maler