Brazil's Raizen quarterly profit falls 48%

Brazilian energy company Raizen SA (RAIZ4) posted on Friday a 48% decrease in its adjusted net income in the fiscal fourth quarter, missing analysts' estimates.

The company reported adjusted net income of 209.7 million reais ($41.44 million), far below the Refinitiv consensus estimate of 708.2 million reais.

The company's operating net revenue rose 50.1% year-on-year to 53.49 billion reais.

In a separate filing, the company said it expects an adjusted EBITDA for the 2022/2023 crop cycle of between 13 and 14 billion reais, and a 2022/2023 investment of between 10.5 and 12 billion reais.

($1 = 5.0606 reais)