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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  BRF S.A.    BRFS3   BRBRFSACNOR8

BRF S.A.

(BRFS3)
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BRF S A : Brazil's BRF posts 3rd qtr profit, slightly above forecast

11/09/2020 | 06:10pm EST

SAO PAULO, Nov 9 (Reuters) - Brazilian food processor BRF SA turned a third-quarter profit driven by a strong performance in its home market, slightly beating expectations, according to a securities filing on Monday.

BRF said it earned 218.7 million reais ($40.61 million), versus analysts' average estimate of 203.15 million reais according to Refinitiv data.

Net revenue rose 17.5% to 9.9 billion reais, as the company increased the average price of its products. Sales volume of processed foods and meats rose 0.7% in the quarter, to a 1.1 million tonnes, it added.

BRF, the world's largest chicken exporter, derived more than half its sales from Brazil, where net revenue rose almost 21%.

In Brazil, government cash payments to help the poor weather the pandemic boosted spending on food, allowing BRF to pass on higher grain prices to consumers. This partly offset higher feed prices and COVID-19 related expenses, it said.

Internationally, net revenue rose 13.5%, but production adjustments for the pandemic continued to affect operations. "As a result, gross profit and margins (were) squeezed," BRF said of pandemic-related issues that weighed on its export business.

In the Halal market BRF posted sales of 173,000 tonnes, little changed from the year-ago period, as Saudi Arabia maintained import restrictions.

Higher grains costs and other dollar-denominated expenses also affected its exports' profitability, the company added. ($1 = 5.3858 reais) (Reporting by Ana Mano in Sao Paulo Editing by Chris Reese, Matthew Lewis and Richard Chang)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BRF S.A. 3.19% 20.69 End-of-day quote.-6.13%
EURO / BRAZILIAN REAL (EUR/BRL) -0.03% 6.5505 Delayed Quote.4.64%
All news about BRF S.A.
01/26BRF S A : Announcement to the Market – Aquisition of Material Equity Inter..
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01/18BRF S A : Announcement to the Market – Joody Al Sharqiya Food Production F..
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01/14BRF S A : SEC Filing (6-K/a) - Current Report by Foreign Issuer (Amendment)
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01/06BRF S A : Notice to Shareholders - AGM Date
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01/06BRF S A : Transparency Manual
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01/04JBS : China suspends imports from Brazil pork plant over coronavirus concerns
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2020BRF S A : SEC Filing (6-K) - Current Report by Foreign Issuer
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2020BRF S A : Minutes of The Extraordinary Board of Directors Meeting
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2020BRF S A : Announcement to the Market – Sale of Material Equity Interest &n..
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2020BRF S A : Minutes of The Ordinary Board of Directors Meeting
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More news
Financials
Sales 2020 38 424 M 7 097 M 7 097 M
Net income 2020 734 M 136 M 136 M
Net Debt 2020 15 446 M 2 853 M 2 853 M
P/E ratio 2020 19,0x
Yield 2020 0,92%
Capitalization 17 140 M 3 172 M 3 166 M
EV / Sales 2020 0,85x
EV / Sales 2021 0,79x
Nbr of Employees 90 000
Free-Float 99,4%
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Technical analysis trends BRF S.A.
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 26,23 BRL
Last Close Price 20,98 BRL
Spread / Highest target 62,1%
Spread / Average Target 25,0%
Spread / Lowest Target -9,44%
EPS Revisions
Managers and Directors
NameTitle
Lorival Nogueira Luz Global Chief Executive Officer
Pedro Pullen Parente Chairman
Vinícius Guimarães Barbosa Vice President-Operations & Procurement Officer
Carlos Alberto Bezerra de Moura Chief Financial Officer & Vice President-Finance
Neil Hamilton dos Guimarães Peixoto Vice President-Research & Development
Sector and Competitors
1st jan.Capitalization (M$)
BRF S.A.-6.13%3 076
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.7.26%26 232
HORMEL FOODS CORPORATION8.35%26 197
TYSON FOODS, INC.0.53%24 285
WH GROUP LIMITED0.00%12 304
JBS SA3.81%11 817