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Financial News: BRF: Company Cuts Net Losses In The 1Q18,

BRF: Company Cuts Net Losses In The 1Q18, But Misses Market Estimates

05/11/2018 - 15:31:00 (RTTNews)

(RTTNews) - Brazilian food processing company BRF said that its net loss fell 60.2% in the first quarter from a year before, to R$ 114 million, a weaker result than the R$ 49.76 million loss expected by market analysts.

According to the company, the net loss was a result of a higher income tax and a mark-to-market adjustment of the total return swap derivative instrument. Net operating revenues grew 5%, to R$ 8.023 billion - less than the R$ 8.335 billion expected by analysts -, and expenses increased at a lower rate.

Ebitda (earnings before interest, taxes, depreciation and amortization) increased 54.8% to R$ 783.0 million, while analysts predicted a more intense rise, to R$ 806.8 million. The EBITDA margin stood at 9.5%, up 310 basis point from the first quarter fo 2017. Analysts, however, expected a 9.62% margin.

BRF sales volume in the quarter rose 5.7% to 1.225 million tons.

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