BRF SA, one of the world's largest food processing companies, witnessed a significant plummet of 7.10% in its stock price during Thursday's trading session. The decline followed the company's release of its financial results for the quarter ended September 30, 2024, which failed to meet market expectations.
According to the earnings report, BRF SA reported adjusted earnings per share (EPS) of $0.07, falling short of the analysts' consensus estimate of $0.14 per share. While the company's revenue of $3.01 billion was marginally higher than the expected $2.84 billion, it represented a 1% year-over-year decline.
The disappointing earnings performance could be attributed to various factors, including rising input costs, supply chain disruptions, and intense competition in the food processing industry. Investors reacted negatively to the weaker-than-expected results, leading to the substantial drop in BRF SA's stock price during the intraday trading session.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.