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    MRFG3   BRMRFGACNOR0

MARFRIG GLOBAL FOODS S.A.

(MRFG3)
  Report
Delayed Bolsa de Valores de Sao Paulo  -  04:07 2022-12-09 pm EST
7.560 BRL   -0.79%
11/11Transcript : Marfrig Global Foods S.A., Q3 2022 Earnings Call, Nov 11, 2022
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11/10Marfrig Global Foods S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
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10/24Lower cattle prices to fatten Brazilian meatpackers' margins, analysts say
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Brazilian food processor BRF CEO resigns, shares close lower

08/30/2022 | 08:44am EST

SAO PAULO, Aug 30 (Reuters) - Brazilian food processor BRF SA said on Tuesday that chief executive Lorival Luz has resigned and will be replaced by Miguel Gularte, a top executive at beef-packer Marfrig Global Foods SA.

Shares in the poultry and pork processor were around 6% higher in early trading in Sao Paulo, but closed 1.10% lower at 16.19 reais ($3.17) as BRF investors digested the news.

"To some extent, Miguel Gularte can be described as a beef guy," BTG Pactual analysts said in a note to clients.

Whether he can reposition BRF to face stiff competition in Brazil remains an open question. "These are very different industries and require a different set of skills," BTG said comparing beef operations to pork and poultry processors.

BRF said the move does not reflect an intention to merge the two companies, even though the market has speculated that for some time.

Marfrig, which owns 33.27% of BRF, has said previously it was only interested in a passive stake in BRF.

But BTG analysts see Gularte's appointment as "yet another sign of how Marfrig is effectively taking control and influencing BRF's operations."

XP analysts said in a note Gularte's appointment was "unexpected," also highlighting the fact his experience comes from the beef sector.

Still, XP believes Gularte "should be able to make BRF more agile, removing discomforting inertia that was responsible for lost opportunities in BRF's past."

BRF, owner of well known brands Sadia and Perdigao in Brazil, has been reeling from high cost inflation and makes most of its sales in the domestic market.

Unlike rivals JBS SA and Marfrig, BRF does not process cattle or owns plants in countries like the United States.

Gularte was chief executive of Marfrig until today's announcement.

Marfrig, whose shares dropped 3.78% after the bell on Tuesday, named Rui Mendonca as new CEO for South America replacing Gularte.

($1 = 5.1134 reais) (Reporting by Gabriel Araujo and Ana Mano; Editing by Kirsten Donovan and Jane Merriman)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRF S.A. -3.71% 7.52 Delayed Quote.-65.36%
FEEDER CATTLE FUTURE (GF) - CMG/C1 1.48% 183.575 End-of-day quote.8.40%
JBS S.A. -0.38% 21.11 Delayed Quote.-44.03%
LIVE CATTLE FUTURE (LE) - CMG/C1 0.35% 152.45 End-of-day quote.8.75%
MARFRIG GLOBAL FOODS S.A. -0.79% 7.56 Delayed Quote.-65.43%
All news about MARFRIG GLOBAL FOODS S.A.
11/11Transcript : Marfrig Global Foods S.A., Q3 2022 Earnings Call, Nov 11, 2022
CI
11/10Marfrig Global Foods S.A. Reports Earnings Results for the Third Quarter and Nine Month..
CI
10/24Lower cattle prices to fatten Brazilian meatpackers' margins, analysts say
RE
09/05Marfrig Global Foods S.A.(BOVESPA:MRFG3) added to Braz..
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09/02Marfrig Global Foods S.A.(BOVESPA:MRFG3) dropped from ..
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08/30Brazilian food processor BRF CEO resigns, shares close lower
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08/30Brazilian food processor BRF CEO resigns, shares close lower
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08/22MARFRIG GLOBAL FOODS S.A. : Ex-dividend day for interim divide..
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08/12Transcript : Marfrig Global Foods S.A., Q2 2022 Earnings Call, Aug 12, 2022
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08/11MARFRIG GLOBAL FOODS S.A. : Press Release
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More news
Financials
Sales 2022 106 B 20 266 M 20 266 M
Net income 2022 4 047 M 774 M 774 M
Net Debt 2022 29 140 M 5 574 M 5 574 M
P/E ratio 2022 1,25x
Yield 2022 20,4%
Capitalization 5 027 M 961 M 961 M
EV / Sales 2022 0,32x
EV / Sales 2023 0,27x
Nbr of Employees 31 779
Free-Float 43,1%
Chart MARFRIG GLOBAL FOODS S.A.
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Marfrig Global Foods S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends MARFRIG GLOBAL FOODS S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 7,62 BRL
Average target price 24,60 BRL
Spread / Average Target 223%
EPS Revisions
Managers and Directors
David Tang Chief Administrative Officer
Marcos Antonio Molina dos Santos Chairman
Ant˘nio dos Santos Maciel Neto Independent Director
Herculano AnÝbal Alves Independent Director
Roberto Silva Waack Independent Director
Sector and Competitors
1st jan.Capi. (M$)
MARFRIG GLOBAL FOODS S.A.-65.43%964
HORMEL FOODS CORPORATION-2.44%26 037
TYSON FOODS, INC.-26.87%22 963
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.-18.67%12 759
JBS S.A.-44.03%9 016
WH GROUP LIMITED-7.57%8 213