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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  JBS SA    JBSS3   BRJBSSACNOR8

JBS SA

(JBSS3)
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Brazil's JBS, world's top meat-packer, posts better-than-expected results

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08/13/2020 | 06:53pm EDT
FILE PHOTO: The logo of Brazilian meatpacker JBS SA is seen in the unit in the city of Jundiai

Brazil's JBS SA on Thursday posted second-quarter net profits nearly twice as high as the average of analysts' estimates, buoyed by a strong performance in its beef and pork divisions in the United States and at home.

Results from the world's largest meat-packer showed a net profit of 3.38 billion reais ($629 million). Analysts in a Refinitiv poll had estimated net profit of 1.8 billion reais for the quarter, which was marked by disruptions at some of JBS' U.S. and Brazilian production facilities due to outbreaks of the novel coronavirus.

The impact of COVID-19 on the animal protein industry was notable, especially in North America. In April, JBS said it temporarily closed three U.S. beef production units. Demand for beef was strong, though, positively impacting the price of meat, JBS said.

In Brazil, JBS became a target of lawsuits by labor prosecutors for allegedly not doing enough to protect workers amid the pandemic.

Despite outbreaks that led to the temporary closure of JBS plants in at least three Brazilian states, the company's Seara division, which sells pork, poultry and processed foods, increased net sales almost 26% to 6.4 billion reais.

Australian operations suffered less of an impact from COVID-19 in the quarter, JBS said. The volume of cattle slaughtered grew in relation to the previous quarter, but cattle availability continued to be a challenge, the company said.

JBS, which sells meat in 190 countries, increased its consolidated net revenue by 33% to 67.58 billion reais, as all business units increased sales in Brazilian reais.

In its earnings statement, JBS also highlighted strong Brazilian beef exports to China, as net revenue from beef sales to the Asian country rose 53%, in dollar terms, over the quarter.

By Ana Mano

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.57% 6.6353 Delayed Quote.46.82%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.14% 141.15 End-of-day quote.-2.74%
JBS SA 1.52% 20.67 End-of-day quote.-19.88%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 -0.09% 108.45 End-of-day quote.-12.95%
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Financials
Sales 2020 264 B 46 761 M 46 761 M
Net income 2020 2 987 M 529 M 529 M
Net Debt 2020 48 399 M 8 577 M 8 577 M
P/E ratio 2020 17,9x
Yield 2020 2,95%
Capitalization 55 108 M 9 809 M 9 766 M
EV / Sales 2020 0,39x
EV / Sales 2021 0,36x
Nbr of Employees 242 000
Free-Float 34,8%
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Technical analysis trends JBS SA
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 33,51 BRL
Last Close Price 20,67 BRL
Spread / Highest target 108%
Spread / Average Target 62,1%
Spread / Lowest Target -7,11%
EPS Revisions
Managers
NameTitle
Gilberto Tomazoni Chief Executive & Operating Officer
Jeremiah Alphonsus O'Callaghan Chairman
Guilherme Perboyre Cavalcanti Chief Financial Officer
José Batista Sobrinho Vice Chairman
Cledorvino Belini Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
JBS SA-19.88%9 809
HORMEL FOODS CORPORATION8.38%26 381
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.82.33%25 872
TYSON FOODS, INC.-34.67%21 666
WH GROUP LIMITED-21.99%11 928
JUEWEI FOOD CO., LTD.76.58%7 351