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BRF (BRFS3) investor relations material
BRF Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Achieved highest quarterly sales volume since the consolidation of BRF in 2022, with record-high volumes in key segments and continued growth in processed products.
Net revenue rose 9.2% year-over-year to R$41,766 million in 3Q25, with strong performance in South America and BRF segments.
Gross profit decreased 4.3% year-over-year to R$4,028 million, with gross margin declining to 24.6% from 27.1% in 3Q24.
Adjusted EBITDA decreased to R$3,503 million from R$3,831 million in 3Q24, and net income dropped to R$94 million from R$248 million in 3Q24.
Focused on sustainable growth, value creation, and consistent returns to shareholders, supported by synergy execution and efficiency programs.
Financial highlights
Net revenue rose 9.2% year-over-year to R$41,766 million in 3Q25.
Adjusted EBITDA decreased to R$3,503 million from R$3,831 million in 3Q24.
Net income dropped to R$94 million from R$248 million in 3Q24.
Operating cash flow was R$3,319 million, down from R$3,695 million in 3Q24.
Leverage (ND/Adj. EBITDA LTM) was 3.09x, slightly up from 3.07x in 3Q24.
Segment performance
Beef North America: Sales volume fell 6.3% due to lower industry slaughter, but net revenue in USD grew 12.2% year-over-year; EBITDA margin declined to 2.0%.
Beef South America: Sales volume increased 17.6% and net revenue rose 18.1%, with EBITDA margin improving to 11.1%.
BRF: Record sales volume, up 5.0% year-over-year, and net revenue up 5.4%; processed products drove domestic market gains, while new export authorizations supported export growth.
Domestic market achieved record sales and increased market share, supported by logistics improvements and higher client engagement.
External market volumes grew, with profitability maintained despite avian influenza-related export bans; 16 new export authorizations obtained in the quarter.
Sadia Halal JV: expected financial impact?
Avian flu: how did diversification mitigate impact?
What drove the significant Q3 net debt increase?
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Frequently asked questions
BRF S.A. is a global food company with a presence in more than 120 countries, employees in over 40 countries, and operations in important protein and other food markets. The Company focuses on raising and producing poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, and other products. BRF operates in the Americas (Brazil and Argentina), Europe (Holland), Asia-Pacific (Malaysia), Africa (South Africa) and the Middle East (United Arab Emirates).
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