November 10, 2017 / 12:56 AM / a year ago

Brazil food company BRF misses third-quarter profit estimate despite rebound

SAO PAULO (Reuters) - Brazilian food company BRF SA (BRFS3.SA) swung to a profit in the third quarter after three consecutive quarterly losses as the company bounced back from a national food safety scandal, but it missed the analyst consensus of a larger rebound.

BRF, Brazil’s largest chicken exporter, reported net profit of 138 million reais ($42.44 million) in the period, missing a Thomson Reuters consensus estimate of 178 million reais.

Earnings before interest, tax, depreciation and amortization, a gauge of operating profitability, came in at 1.1 billion reais, above the consensus of 980.75 million reais.

BRF’s results earlier in the year were partly affected by fallout from the “Weak Meat” food safety scandal in Brazil that alleged food inspectors accepted bribes, resulting in plant closures and an ensuing management shakeup.

Reporting by Ana Mano and Jake Spring; Editing by Leslie Adler

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