BRF S.A. (NYSE:BRFS) Q2 2023 Earnings Conference Call August 15, 2023 9:00 AM ET

Company Participants

Miguel Gularte - Chief Executive Officer

Fabio Mariano - Chief Financial Officer

Conference Call Participants

Gustavo Troyano - Itau BBA

Lucas Ferreira - JPMorgan

Thiago Duarte - BTG Pactual

Isabella Simarato - Bank of America

Thiago Bortoluci - Goldman Sachs

Pedro Fonseca - XP Inc.

Operator

Good morning, ladies and gentlemen. Welcome to BRF's Q2 2023 Earnings Conference. This conference is being recorded and will be available for download at the company's website, ir.brf-global.com, where the presentation slide deck can also be downloaded. All attendees are now connected in listen-only mode. [Operator Instructions]

Before we move on, I'd like to stress that forward-looking statements are based on BRF's management's beliefs and assumptions as well as currently available information. These statements may involve risks and uncertainties seeing as they relate to future events and, therefore, rely on circumstances that may or may not materialize.

Investors, analysts and journalists must take into account the events relating to the macroeconomic environment, the industry and other factors may lead to materially different results than those expressed in said forward-looking statements.

Joining our conference today are CEO, Mr. Miguel Gularte; and CFO, Mr. Fabio Mariano. I will now turn it over to Mr. Gularte, who will begin the presentation.

Please, Mr. Gularte, you may proceed.

Miguel Gularte

Good morning. I'd like to thank everyone for joining our Q2 2023 earnings conference. During this period, we remain focused on executing our efficiency plan, BRFs, which turns 1 year old this September. We've made significant headway across all our work fronts. We're seeing our gains materialize faster than expected, exceeding the target we set for the first half of the year.

The impacts of our strong performance can already be seen in the company's balance sheet. This quarter, we're reporting recovering margins, a result of our improved operating indicators, the high-performing processed goods category in Brazil and the gradually increasing prices in U.S. dollar.

Now I'd like to invite our CFO, Fabio Mariano, to present our results in further detail. I'll be back later to bring you my additional thoughts and final remarks.

Fabio Mariano

Good morning to everyone joining us I'd like to point out in the opening slide our most important financial indicators for the second quarter, starting with net revenue following the management reporting standard, which exceeded BRL 13 billion in keeping with the same period of last year.