BRF SA’s Q3 challenges: chicken glut, rising grain prices, and a widened loss. CEO’s strategies and sector impact.
BRF SA Q3 Loss
BRF SA, the renowned Brazilian pork and poultry processor, has reported a widening net loss in the third quarter of this year. The company finds itself grappling with both an oversupply of chicken and the relentless surge in grain prices.
In a statement released on Monday, BRF disclosed a net loss of 262 million Brazilian reais, equivalent to approximately $53.37 million USD. This figure marks a substantial increase from the 136.7 million reais loss incurred during the same period last year. Nevertheless, it does manage to narrowly surpass market expectations, which had projected a loss of 279 million reais, according to the LSEG consensus forecast.