May 10, 2019 / 12:34 PM / 2 months ago

Brazil's BRF posts third consecutive quarterly loss

SAO PAULO, May 10 (Reuters) - Brazilian food processor BRF SA, the world’s largest chicken exporter, said it lost money for the third consecutive quarter as the company grapples with higher feed costs and trade restrictions in key markets such as Saudi Arabia.

BRF posted a first-quarter net loss of 113 million reais ($28.58 million) from continued operations, narrower than analysts expectations of a 239.7 million real loss in the period.

Adjusted EBITDA, or earnings before interest, tax, depreciation and amortization, a gauge of operating profit, came in at 748 million reais, better than analysts expectations of a 676.3 million real result.

$1 = 3.9539 reais Reporting by Ana Mano Editing by Nick Zieminski

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