Seara, the Brazil-based poultry and pork unit of JBS, recorded net revenues of BRL11.8 billion (US$2.21 billion) for the third quarter of fiscal year 2022, an increase of 22.3% when compared to the third quarter of the previous fiscal year.
Those figures were made available on November 10, when JBS released its quarterly financial results.
According to JBS, those improved revenues came largely as a result of a 20% increase in the average sales price, as well as a 2% increase in volume.
Poultry sales in the period also saw significant gains, with a 29.1% growth in prices and 12.5% in volumes, in the annual comparison.
Other Seara highlights for the quarter included:
- Sales in the domestic market accounted or about 45% of the unit’s revenue for the period, and those domestic sales increased by about 8.7% on a year-over year basis.
- Volumes stayed stable for the prepared food category, but an 11% increase in prices helped propel the unit’s revenues for the quarter
- In the export market, net revenues in dollars were US$1.2 billion, which represent an increase of 36% compared to 3Q21, as a result of a 23.9% increase in the average sales price in dollars and a 9.7% in volumes.
- The Churrasco Seara line was launched, which includes new cuts of pre-seasoned pork and poultry, as well as new types of sausages and hot dogs
- Companywide, JBS reported a net revenue of BRL 98.9 billion, a year-over-year improvement of 6.8%.
“Our performance was made possible through the continued strength and resilience of our globally diversified multiprotein platform, which has mitigated the natural cycles in our business and maintained a healthy cash flow. This has enabled reinvestment in company growth and created value for our shareholders in the short term. Our Brazil and US poultry businesses outperformed expectations with strong exports to Asia and the Middle East, with an emphasis on convenience and the strengthening of key customer relationships in each market,” said JBS CEO Gilberto Tomazoni.
