JBS S.A.'s EBITDA (earnings before interest, tax, depreciation and amortization) for the second quarter of 2011 was R$587.7 million (US$369.5 million), a decline of 41.2% compared to the same time in 2010, due to the underperformance by Pilgrim’s and the weak performance of JBS USA's beef division, according to the company.
Overall loss for the period was R$180.8 million (US$113.7 million), due largely to the company's chicken operations, which incurred a net loss of US$128.1 million, and the challenges faced by beef operations in the U.S.
According to JBS, Pilgrim's will remain focused on reducing costs and achieving operational efficiencies to mitigate the effects of grains in the cost of goods sold for the remainder of 2011. In addition, the company is committed to improving the product mix and to increasing the sales prices to reflect the current market conditions.
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