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Brazil's BRF swings back to quarterly profit, revenue up by double digits
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Brazil's BRF swings back to quarterly profit, revenue up by double digits
Nov 13, 2024 3:25 PM

SAO PAULO, Nov 13 (Reuters) - Brazilian pork and chicken

processor BRF posted on Wednesday a 1.1 billion real

($189.5 million) net profit for the third quarter, following a

262 million real loss for the same period last year.

Analysts expected a 1.3 billion real net profit for the

July-to-September period.

WHY IT'S IMPORTANT

BRF is one of the world's largest pork and chicken

processors.

BY THE NUMBERS

The company's core profits, or adjusted earnings before,

interest, taxes, depreciation and amortization (EBITDA), came in

at 3 billion reais, up nearly 150% year-on-year and almost in

line with the 2.9 billion reais expected by analysts polled by

LSEG.

Adjusted EBITDA margins rose to 19% from nearly 9%.

Net revenue increased some 12% to 15.5 billion reais,

with its key Brazilian business rising more than 10%.

KEY QUOTE

"The rising numbers are driven by efficiency gains,

expansion of export destinations and growth in the share of

processed products in (total) sales," said Chief Executive

Officer Miguel Gularte in a statement.

($1 = 5.8061 reais)

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