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MBRF Global Foods posted weak Q1 results, with net revenue down 10.2% YoY to BRL 39.5 billion and rising leverage to 3.37x. Operational resilience was evident in gross margin (12.1%) and EBITDA margin (7.8%), aided by temporary Middle East pricing, but overall profitability remains pressured. I maintain a cautious hold rating on MBRFY due to persistent US cattle cycle headwinds, weak dollar, and growing leverage,…

MBRF Global Foods Company S.A. (MBRFY) Q1 2026 Earnings Call Transcript