JBS revealed to its shareholders and to the market that it anticipates a net revenue of BRL409.4 billion (US$76.5 billion) for the 2024 fiscal year.
In the name notice to the market, the company shared that an earnings before interest, taxes, depreciation and amortization (EBITDA) between BRL33.4 billion and BRL36.2 billion is expected.
The Brazil-based meat and poultry company disclosed those projections after receiving a directive from the Brazilian Securities and Exchange Commission (CVM).
JBS stated that the estimates were based on the company’s performance and accounting standards, taking into account the following assumptions and methodologies:
- Historical behavior of the company's operations, applied to the company's current operating performance.
- Expected reflections of market conditions in the locations where JBS operates.
- Calculation according to historical accounting standards, consistently applied by the company.
JBS, however, did issue a cautionary statement concerning the accuracy of these projections. The statement read: “The information disclosed herein constitutes estimates based on the beliefs and substantiated assumptions of JBS Management, as well as on information currently available. JBS operates globally and, as such, is subject to different market conditions, laws and regulations, as well as changes in each of these elements in each of these jurisdictions. In addition, the food sector is highly cyclical, volatile, and strongly influenced by various political, economic, climatic, and environmental factors. All these factors are beyond JBS's control. These aspects and JBS's own operating activity may affect its future performance and lead to results that differ materially from the information indicated above. Therefore, such estimates are subject to risks and uncertainties and do not constitute a promise of future performance. Because of these uncertainties, the investor should not make any investment decisions based solely on this information. Any change in perception or in the factors mentioned above may cause the concrete results to diverge from the projections made and disclosed.”
The notice is dated September 16 and signed by Guilherme Perboyre Cavalcanti, global chief financial officer and investor relations officer.
JBS is the world’s largest poultry producer and is the majority shareholder of Pilgrim’s Pride, the second largest U.S. poultry company. It is also a major producer of beef and pork.
