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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

JBS 3Q Profit Rose as Sales in U.S., Brazil Jumped

11/10/2021 | 05:52pm EST

By Jeffrey T. Lewis

SÃO PAULO--Brazil's JBS SA, the world's largest meat processor, said Wednesday its third-quarter profit increased as sales jumped and the stronger dollar boosted revenue from the company's U.S. units.

The meatpacking giant said it had net income of 7.6 billion reais, the equivalent of $1.4 billion, compared with profit of 3.2 billion reais in the year-earlier period. Revenue rose to 92.6 billion reais from 70.1 billion reais last year. Adjusted earnings before interest, taxes, depreciation and amortization increased to 13.9 billion reais from 8 billion reais.

The company's U.S. beef unit's sales increased 34.2% from a year earlier to 38.6 billion reais, and in dollars the unit's sales rose 38.1% to $7.4 billion. Sales at JBS USA Pork increased 42.2% to 10.9 billion reais, and in dollars rose 46.3% to $2.1 billion.

Sales at the Brazilian units also jumped, with JBS Brazil revenue up 35.3% to 15.5 billion reais and revenue from its Seara unit up 38.2% to 9.6 billion reais.

The company's board approved a plan to buy back as many as 129.1 million of its outstanding shares, and to cancel 137.3 million treasury shares.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

11-10-21 1751ET

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Analyst Recommendations on JBS S.A.
More recommendations
Sales 2021 343 B 62 500 M 62 500 M
Net income 2021 15 789 M 2 875 M 2 875 M
Net Debt 2021 51 546 M 9 385 M 9 385 M
P/E ratio 2021 4,91x
Yield 2021 5,29%
Capitalization 84 563 M 15 368 M 15 397 M
EV / Sales 2021 0,40x
EV / Sales 2022 0,39x
Nbr of Employees 250 000
Free-Float 34,5%
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Technical analysis trends JBS S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 13
Last Close Price 35,83 BRL
Average target price 48,52 BRL
Spread / Average Target 35,4%
EPS Revisions
Managers and Directors
Gilberto Tomazoni Chief Executive & Operating Officer
Guilherme Perboyre Cavalcanti Chief Financial & Investor Relations Officer
Jeremiah Alphonsus O'Callaghan Chairman
Eliseo Santiago Perez Fernandez Director-Administration & Control
Cledorvino Belini Independent Director
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