By Jeffrey T. Lewis

SÃO PAULO--JBS's profit shrank in the third quarter as a decline in sales at many of the Brazilian meat packer's units was exacerbated by a weaker dollar.

JBS reported net income of 572.7 million reais, the equivalent of $117 million, compared with net income of BRL4.0 billion in the year-earlier period. Earnings per share dropped to BRL0.26 from BRL1.81.

Net revenue fell to BRL91.4 billion from BRL98.9 billion. Revenue at the company's JBS Beef North America unit rose 7.2% from a year earlier in dollar terms, but declined 0.3% in Brazilian real reais. Revenue from JBS's Pilgrims Pride unit fell 2.4% in dollars, and dropped 9.3% in reais.

The sales numbers outperformed market expectations, while net income fell short. The market consensus compiled by FactSet was for revenue of BRL89.8 billion and net income of BRL740 million.

Write to Jeffrey T. Lewis at

(END) Dow Jones Newswires

11-13-23 1709ET