BRF's net revenue increased by 22% YoY and 11% QoQ, with EBITDA margins significantly improving to 17.6% in 2Q24. The company has a healthy capital structure, with net debt reduced to $1.59 billion and leverage at 1.14x EBITDA. Valuation remains attractive with a potential 37% appreciation, supported by Seeking Alpha's strong buy recommendation and favorable market conditions.
BRF S.A. posted strong 2Q24 results with full margin recovery due to improved poultry and pork markets, falling grain prices, and BRL depreciation. Despite impressive results, BRFS stock is a Hold due to potential margin decreases and historical poor capital allocation decisions. The company's current valuation assumes record profitability, which is unsustainable in the long term given the cycl...
A healthy global poultry market and good execution on operational improvements has driven strong gains in BRF's share price. Second quarter results exceeded expectations for revenue and margins, with strong volumes and meaningful improvements in cost efficiency, helped by lower grain prices and improved efficiency. How long this poultry cycle will stay positive is an open question; if the cycle...
Brazil is a powerhouse in agribusiness, and BRF has a prominent position in the poultry market. The company's costs have fallen, which should bring even better margins in the short term. BRFS has an attractive valuation based on the EV/EBITDA multiple and is experiencing very strong momentum.
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