BRF reported a strong performance during the third quarter of fiscal year 2024, including a net income of BRL 1.14 billion (US$200 million), a significant improvement over the net loss of 262 million recorded during the third quarter of 2023.
The Brazil-based protein producer also reported a net revenue of BRL15.5 billion, up from a year-ago net revenue of BRL13.8 billion.
“The increased numbers were driven by efficiency savings, the expansion of export destinations and the growing share of processed products in our sales,” BRF CEO Miguel Gularte stated.
Brazilian performance
In BRF’s home market, the company reported a gross profit of nearly BRL2 billion for the quarter, a year-over-year improvement of more than BRL500 million.
“In Brazil, we showed solid growth in volume, especially in processed products, supported by a strategy based on the continuous evolution of commercial execution and investments in our brands,” said Gularte.
International performance
In the BRF international segment the company also reported meaningful progress during the quarter, with a gross profit of BRL2.1 billion, up from the BRL687 million from a year ago.
“The result was driven by the increase in sales of processed products, the recovery in prices of pork cuts and the continuation of our market diversification strategy. In 2024, we have already gained 70 new export authorizations,” said Gularte.
BRF, according to the WATTPoultry.com Top Poultry Companies Database, is the third largest poultry producer in the world, having produced 1.67 billion broilers during the past year. As a feed company, BRF ranks as the world’s 14th largest producer.
