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Losses increased among Ibovespa companies in Q4

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Vincent

The number of companies with losses in Brazil’s benchmark stock index Ibovespa more than doubled in the fourth quarter, to 22 from 8, compared to the same period in 2021, according to an analysis conducted by Valor. The analysis includes 77 non-financial companies that were part of Ibovespa on March 31.In the sample, 18 companies are now in the red, three increased their losses, and one pared its losses. Profit fell for 28 companies, rose for 23, and four managed to reverse losses in the quarter. For the year, eight went from profit to loss, three increased their losses, and four reduced them.The skyrocketing financial expenses in the fourth quarter, driven by interest rates still at high levels, eroded the margins of listed companies in the last three months of the year and put pressure on the bottom line of the financial statements, analysts told Valor.Nevertheless, the market points out that the overall companies’ operating performance was not bad, with many of them managing to increase revenues by passing on costs to prices and avoid a greater-than-expected deterioration in their margins in the last three months of 2022."Overall, fourth-quarter results were slightly worse than expected, and for the first time more companies reported numbers below the market consensus than the other way around," notes Emy Shayo, equity strategist for Brazil and Latin America at J.P. Morgan.According to Santander, 37.1% of companies reported a...

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