Brazilian pork and chicken processor BRF reported a net profit of 1.1 billion reais ($189.5 million) for Q3, bouncing back from a 262 million real loss in the same period last year, according to Reuters. Analysts had anticipated a higher net profit of around 1.3 billion reais for the July-September quarter.
BRF, one of the largest pork and chicken processors globally, also saw its core profits rise substantially. Adjusted EBITDA reached 3 billion reais, marking a nearly 150% increase year-over-year, and aligning closely with the 2.9 billion reais expected by analysts surveyed by LSEG. The company’s adjusted EBITDA margin grew to 19%, up from almost 9% in the previous year.
Net revenue for BRF climbed approximately 12% to 15.5 billion reais, with the Brazilian market contributing over 10% of that growth.
CEO Miguel Gularte attributed the strong quarterly performance to improved efficiency, expansion into new export destinations, and a greater share of processed products in overall sales.
