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Brazil's Suzano posts Q3 profit on higher pulp revenue, financial gains
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Brazil's Suzano posts Q3 profit on higher pulp revenue, financial gains
Oct 27, 2024 4:30 PM

SAO PAULO, Oct 24 (Reuters) - Brazilian pulp maker

Suzano posted on Thursday a 3.24 billion real ($572

million) net profit for the third quarter, swinging to the black

after a 729 million real loss a year earlier, due to higher

revenues and net financial results.

Suzano's net profit came above the 2.72 billion reais

expected by analysts in an LSEG poll.

Its net revenue totaled 12.27 billion reais, mostly in line

with the 12.16 billion reais estimated by analysts, jumping 37%

year-on-year as both pulp sales and prices increased in the

period.

Suzano, the world's largest producer of pulp made from

eucalyptus, sold 2.6 million metric tons of pulp, up 6% from the

same quarter last year.

Adjusted earnings before interest, taxes, depreciation

and amortization (EBITDA) soared 77% in the period to 6.52

billion reais.

Suzano's net profit was also boosted by a net financial

revenue of nearly 900 million reais, reversing the almost 3.5

billion reais in net financial expenses a year earlier, driven

by gains from hedge operations and the weakness of the Brazilian

real versus the U.S dollar.

($1 = 5.6643 reais)

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