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    JBSS3   BRJBSSACNOR8

JBS S.A.

(JBSS3)
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Delayed Bolsa de Valores de Sao Paulo  -  04:07 2022-11-25 pm EST
23.32 BRL   -1.31%
11/17Jbs S A : Conference Call Transcript 3Q22
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11/17JBS S.A. : Ex-dividend day for final dividend
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11/11Transcript : JBS S.A., Q3 2022 Earnings Call, Nov 11, 2022
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Brazil's JBS Q2 profit falls almost 10%, but tops estimates

08/11/2022 | 07:03pm EST
FILE PHOTO: The logo of Brazilian meatpacker JBS SA is seen in the unit   in the city of Jundiai

SAO PAULO (Reuters) - JBS SA , the world's largest meatpacker, posted an almost 10% drop in net profits, to $766 million, driven by the relative weakness of its U.S. beef and pork units in the second quarter, according to an earnings statement on Thursday.

Still, it beat analysts forecasts nE6N2XO018.

JBS reported a 4.6% fall in revenue for its U.S. beef division, which is normally the company's cash cow, while earnings before interest, tax, depreciation and amortization, a measure of operating profitability known as EBITDA, slumped 55% compared with the same year-ago quarter.

U.S meat processors are now reeling from the effects of lower cattle availability in North America, where a drought is leading ranchers to terminate animals rather than sending them for processing.

In the second quarter, overall U.S. pork exports fell 17.7% due to a drop in demand from China, Japan and Canada, JBS said citing USDA data.

As such, results for its U.S. pork division were affected, with JBS sales for that unit dropping 3.2% on an annual basis, to 10.3 billion reais.

JBS' Pilgrims Pride poultry united, however, provided a silver lining in the United States, as its chicken sales rose by 18.3% to 22.7 billion reais.

In Brazil, likewise, JBS' Seara processed foods division did well.

Seara sells about 47% of its output in Brazil, and that business brought in 5 billion reais ($969.24 million) last quarter, 20% more than a year ago, JBS said.

To fend off cost inflation, Seara was able to raise prepared products prices by 19% on average, while increasing sales volumes by 5%.

At the same time, Seara's export sales reached $1.1 billion, a 27.9% rise from the same quarter a year ago.

In Brazil, JBS beef products sales rose by almost 11% to 14.1 billion reais, in spite of a 12% fall in cattle processing because China temporarily halted imports from a large plant.

($1 = 5.1587 reais)

(Reporting by Ana Mano; Editing by Leslie Adler and Marguerita Choy)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 1.80% 5.6244 Delayed Quote.-12.89%
FEEDER CATTLE FUTURE (GF) - CMG/C1 -0.32% 178.675 End-of-day quote.7.42%
JBS S.A. -1.31% 23.32 Delayed Quote.-38.55%
LIVE CATTLE FUTURE (LE) - CMG/C1 -0.16% 153.1 End-of-day quote.9.77%
PAX DOLLAR (USDP/USD) -0.17% 0.9993 End-of-day quote.-0.06%
PILGRIM'S PRIDE CORPORATION -0.50% 26.08 Delayed Quote.-7.52%
SILVER -0.45% 21.378 Delayed Quote.-7.76%
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Analyst Recommendations on JBS S.A.
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Financials
Sales 2022 379 B 70 693 M 70 693 M
Net income 2022 15 699 M 2 930 M 2 930 M
Net Debt 2022 67 648 M 12 628 M 12 628 M
P/E ratio 2022 3,22x
Yield 2022 8,22%
Capitalization 51 726 M 9 656 M 9 656 M
EV / Sales 2022 0,32x
EV / Sales 2023 0,30x
Nbr of Employees 250 000
Free-Float 37,7%
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Technical analysis trends JBS S.A.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 23,32 BRL
Average target price 47,05 BRL
Spread / Average Target 102%
EPS Revisions
Managers and Directors
Gilberto Tomazoni Chief Executive & Operating Officer
Guilherme Perboyre Cavalcanti Chief Financial & Investor Relations Officer
Jeremiah Alphonsus O'Callaghan Chairman
Michael Koenig Chief Ethics & Compliance Officer
Eliseo Santiago Perez Fernandez Director-Administration & Control
Sector and Competitors
1st jan.Capi. (M$)
JBS S.A.-38.55%9 656
HORMEL FOODS CORPORATION1.23%26 846
TYSON FOODS, INC.-22.97%24 143
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.-19.30%12 262
WH GROUP LIMITED-10.22%7 952
PILGRIM'S PRIDE CORPORATION-7.06%6 198