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Brazil's Cemig Q1 net income undershoots forecast; EBITDA jumps
May 16, 2017 / 10:19 AM / 6 months ago

Brazil's Cemig Q1 net income undershoots forecast; EBITDA jumps

SAO PAULO, May 16 (Reuters) - Cia Energética de Minas Gerais SA, Brazil No. 3 power utility, earned a net 342.7 million reais ($110.4 million) in the first quarter after nearly breaking even in the same period a year ago, according to a Tuesday securities filing.

The figure came in below the mean analyst forecast of 534.4 million reais compiled by Reuters. Earnings before interest, tax, depreciation and amortization (EBITDA) rose 71 percent to 1.1 billion reais, surpassing estimates of 972.6 million reais.

$1 = 3.1083 reais Reporting by Bruno Federowski; Editing by Mark Potter

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