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on November 13, 2014

JBS net profit, net revenues up in 3Q 2014

From WATTAgNet:

Brazilian meat and poultry processor JBS SA reported a net profit of BRL 1.1 billion (US$428 million) in the third quarter of fiscal year 2014. The company also saw its net revenues reach BRL 30.8 billion (US$12.05 billion), a 27.1 percent improvement when compared to the same quarter of fiscal year 2014.

The company saw net revenues increase in all of its business segments: JBS Foods, JBS Mercosul, JBS USA Beef, JBS USA Pork and JBS USA Chicken (Pilgrim’s Pride Corporation).

Net revenues for JBS USA Beef and JBS Merocosul, which includes Brazilian beef operations, both saw significant gains from a strong demand for beef products. JBS USA Beef saw the strongest gains, with net revenues up 24.7 percent, while JBS Mercosul net revenues improved 14.8 percent when compared to the third quarter of fiscal year 2013.

JBS Foods, the Brazilian subsidiary which includes pork, poultry and processed products, saw net revenues jump 17.2 percent when compared to the second quarter of 2014, reflecting an increase in sales volumes in all product lines, with the biggest gains being made in fresh pork.

Making smaller improvements in net revenues were JBS USA Chicken, which saw its net revenues jump 5.8 percent on a year-over year basis, and JBS USA Pork, which had net revenues improve 3.8 percent from the third quarter of fiscal year 2013.

JBS Beats Profit Forecasts as Cattle Prices Jump and Costs Fall

JBS SA, the world’s biggest meat producer, exceeded analysts’ estimates to post record quarterly profit on surging cattle prices and lower feed costs. Net income rose to 1.09 billion reais ($481 million) from 220 million reais a year ago, the Sao Paulo-based company said in a statement yesterday. Adjusted earnings per share of 37.8 centavos exceeded the 24-centavo average estimate of three analysts tracked by Bloomberg.
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