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Why BRF S.A. Stock Popped 8.5% Today

Rich Smith, The Motley Fool
·2-min read
Why BRF S.A. Stock Popped 8.5% Today

Shares of Brazilian pork and poultry producer BRF S.A. (NYSE: BRFS) are up 8.5% in 1:30 p.m. EST trading, apparently in response to a "material fact" about which the company informed investors this morning. From 2021 to 2023, it expects to record approximately 65 million Brazilian reais worth of revenue, and to double its earnings before interest, taxes, depreciation, and amortization (EBITDA) as compared to the last 12 months. To put these projections in dollar terms, BRF recorded revenues of $7.3 billion earnings before interest, taxes, depreciation, and amortization (EBITDA) of $645 million, and net income of $228 over the past 12 months, according to data from S&P Global Market Intelligence.

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