BRF reported a strong performance during the third quarter of fiscal year 2024, including a net income of BRL 1.14 billion (US$200 million), a significant improvement over the net loss of 262 million recorded during the third quarter of 2023.
In its pet food division, BRF Pet SA reported significant progress in the super-premium natural pet food segment, driving overall business profitability in Q3 2024. The company also noted improvements in logistics services and inventory management, reinforcing operational efficiency.
A key milestone for BRF Pet was obtaining U.S. FDA approval for its Bastos plant in São Paulo, allowing the export of wet pet food to the United States. This development supports BRF Pet's international expansion strategy, opening new avenues for growth in the competitive U.S. market.
Additionally, BRF executed strategic grain arbitrage operations during the quarter, leveraging market opportunities to reduce sourcing costs. These initiatives contributed to stronger financial results in the company’s "other segments" category, reflecting a proactive approach to market dynamics.
Pet division highlights
In the third quarter, BRF Pet innovated in the Super Premium Natural segment with the release of Biofresh for Dogs Loin and Pineapple, an functional formula for the market. Guabi Natural ended its campaign celebrating its 20th anniversary with record sales for the period. Gran Plus, a special premium brand, has launched the new “Expert em Sabor e Alimento (Expert in Taste and Food)” campaign, with the aim of hiring a dog and a cat to be brand ambassadors, reinforcing its commitment to offering products for the most demanding palates.
According to Petfood Industry's Top Pet Food Companies, BRF Pet SA became a major player in the Brazilian pet food market in 2021 with the acquisitions of established manufacturers Hecosul and Mogiana. The company paid R$1.35 billion (US$234 million) for the two companies. The company said the acquisitions gave it 10% of the Brazilian pet food market.
