Brazil JBS SA reports lower profit in Q2
On the positive side, JBS announced net revenue for the quarter of $11.047 bn., a 34.3% increase over the same quarter’s $8.225 bn. and gross income growth of 38% to $1.667 bn. with EBITDA up 47% from a year earlier, to $1.015 bn. However, the company’s profit declined 68.5% during the quarter versus last year, from $72.211 mill. to $22.745 mill. this year.
Wesley Batista, global CEO of JBS was optimistic about the overall results.
JBS recently made headlines with its announcement to acquire Cargill’s pork business for $1.45 bn. in addition to plans to buy Marfrig Global Foods SA’s Moy Park Ltd.’s poultry business as expansion remains a focus for the global firm.