Marfrig Global Foods SA (STU:MGP1)

Q1 2026 Marfrig Global Foods SA Earnings Call Transcript

May 15, 2026 / 01:00 PM GMT

Release Date Price: €2.8 (-6.04%)

Transcript

Key Points

Positve

Marfrig Global Foods SA (MBRFY) reported a net income of $111 million, surpassing the previous year's performance.
The company achieved an EBITDA of $3.1 billion with a margin of 7.8%, highlighting the robustness of its business model.
Global demand for protein remains strong, and Marfrig is expanding its multi-protein portfolio with value-added products.
The company captured $126 million in synergies in the first quarter, demonstrating effective management and optimization strategies.
Marfrig's South America operations saw an 8.8% increase in volume year-over-year, with net revenue up by 23% from the previous year.

Negative

North America beef sales volume decreased by 5.8% due to tight cattle supplies and high cattle prices.
The company's leverage ratio stood at 3.37 times, indicating a need for further deleveraging efforts.
Operating cash flow was impacted by higher working capital consumption, partly due to inventory dynamics.
The U.S. beef operation faced challenges with high cattle prices not being fully offset by increased boxed beef prices.
BRF's domestic market saw a higher drop in volume year-on-year, influenced by export dynamics and fresh product price reductions.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MBRF3.SA - Marfrig Global Foods SA
Q1 2026 Marfrig Global Foods SA Earnings Call
May 15, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen. Welcome to MBRF's earnings call to discuss its first quarter 2026 results.

This earnings call is being recorded, and a recording will be available on the company's investors relations website at ri.mbrf.com. The presentation is also available for download. At this time, all participants are in listen-only mode.

Following management's remarks, we'll open the call for a Q&A session. Further instructions will be given then. Before we begin, I would like to remind you that forward-looking statements are based on MBRFs, management's beliefs and assumptions, as well as information currently available to the company.

These statements may involve risks and

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