JBS, the Brazilian meat giant, has reported mixed first-quarter results, with the company’s net income and sales rising – but its EBITDA down on lower profits from its US chicken unit.
The company yesterday (10 May) booked a 47.9% increase in net income to BRL147m for the three months to the end of March.
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JBS’s operating income more than doubled at BRL172.2m (US$107.3m) as the company benefited from higher sales and lower finance costs. The group’s net revenue climbed 20.2% to BRL14.67bn thanks to rising sales across the business.
However, JBS’s EBITDA fell 3% to BRL835.9m due to a drop in earnings from the company’s US chicken unit, Pilgrim’s Pride. JBS owns a majority stake in the US poultry processor.
JBS reported rising EBITDA from its other key divisions – US beef, US pork and Mercosul, its operations across South America.
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