JBS Q4 net profit falls almost 64%

JBS blames its US beef operations and an oversupply of chicken globally
calendar icon 22 March 2023
clock icon 1 minute read

JBS SA, the world's biggest meatpacker, reported a nearly 64% fall in net profits for the fourth quarter, blaming its US beef operations and a more challenging scenario for Pilgrim’s Pride, a JBS unit struggling with an oversupplied global market for chicken meat, reported Reuters.

JBS said on Tuesday its net profit came in at 2.35 billion reais ($448.99 million) in the period, while adjusted earnings before interest, tax, depreciation and amortization (EBITDA) was 4.6 billion reais, 65% below the result in the fourth quarter of 2021.

© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.