Sunday , September 27 2020

Marfrig returned $ 100.4 million in loss and profit in the third quarter


SAO PAULO – Marfrig (MRFG3) made $ 100.4m in the third quarter of this year, returning the $ 126m loss recorded in the same period last year.

According to a statement released Monday (11), the company posted consolidated net income of $ 12.7 billion – a record for the company. The value is also 3.6% higher than the previous year.

Analysts consulted by Bloomberg expect Marfried's consolidated net income of $ 12.6 billion between July and September this year.

Adjusted EBITDA (interest, tax, depreciation and amortization) was $ 1.5 billion, also a record high.

The result exceeded the $ 1.36 billion expected by analysts Bloomberg heard.

EBITDA margin (cash production ratio for net income) increased from 9.5% in the third quarter of 2018 to 11.8% in the same period this year.

In addition to the increase in profits and earnings, Marfrig reduced its 12-month adjusted net debt / EBITDA ratio to US $ 0, .26x to 2.43x from the previous quarter.

"Marfrig announced record consolidated results in the third quarter, reinforcing our view of the positive trend for the year and meeting the guidance issued for 2019," the company report said. Marfrig expects net income this year of between $ 47 billion and $ 49 billion.

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