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Brazil's BRF swings back to profit in Q2, gains $49 mln

Brazilian food processor BRF SA , the world’s largest chicken exporter, swung back to profit after three quarterly losses.

12 August 2019, at 12:19pm

Brazilian food processor BRF SA , the world’s largest chicken exporter, swung back to profit after three quarterly losses, reporting a 191 million reais ($48.74 million) gain on Friday, according to a securities filing.

The company said adjusted earnings before interest, taxes, depreciation and amortization, a measure of operating profit known as EBITDA, was 1.547 billion reais in the period, nearly double the average analyst estimate of 825.20 million reais. Analysts had expected BRF to lose 50.2 million reais in the quarter.

$1 = 3.9190 reais Reporting by Ana Mano; Editing by Steve Orlofsky