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.