JBS net revenue grows across the board in first quarter

JBS reported a 33% year-over-year improvement in net revenue for the first quarter of fiscal year 2021, with that figure reaching BRL75.3 billion (US$14.3 billion).

Roy Graber Headshot
(Courtesy of JBS)
(Courtesy of JBS)

JBS reported a 33% year-over-year improvement in net revenue for the first quarter of fiscal year 2021, with that figure reaching BRL75.3 billion (US$14.3 billion).

The company released its quarterly financial results on May 12.

All five of JBS’ business units reported double-digit revenue growth on a percentage basis, when compared to the same quarter of fiscal year 2020.

Seara, which includes its Brazilian poultry operations, saw a net revenue of BRL7.8 billion, a 34.4% improvement. The improvement involved both domestic and export sales. In the export market, Seara’s net revenue was BRL3.9 billion, a growth of 35.4%. The quarterly results included JBS’ consolidation of Bunge’s margarine business, whose acquisition was concluded in November 2020.

Pilgrim’s Pride, which includes poultry operations in the United States, Mexico and Europe, recorded a net revenue of BRL$17.9 billion, a 34.4% improvement. Financial results for Pilgrim’s were previously announced on April 28.

Meanwhile, the JBS USA Beef segment (which also includes beef operations in Australia and New Zealand) saw revenue growth of 32.2%, the JBS USA Pork segment improved its revenue 32.7% and JBS Brazil had the largest improvement on a percentage basis, with net revenue up 41.3%.

“We entered 2021 leveraging what we learned from a challenging last year for all of us,” JBS Global CEO Gilberto Tomazoni stated. “We continued to serve our role with the conviction that we have the responsibility to take even greater, bolder steps to create value for all our team members, shareholders, customers, consumers and society as a whole. To be successful, a company must deliver short, medium and long-term sustainable results on behalf of all stakeholders.”

The first quarter results do not take into account JBS’ planned acquisition of European plant-based protein company Vivera.

Headquartered in Brazil, JBS is the largest poultry producer in the world, slaughtering 4.04 billion broilers annually.

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