JBS S.A. posts lower 3Q earnings
JBS S.A. (Bovespa: JBSS3) , a meatpacker based in Sao Paulo, Brazil, Wednesday posted revenue of $10.4 billion during the third quarter ended Sept. 30 vs. $8.3 billion during the third quarter of 2012. The company said the higher revenue came from increased revenues in all its units as well as from the devaluation of the Brazilian real.
However, the company also reported third-quarter expenses of $376.1 million, more than doubling the $180 million in expenses during the previous third quarter.
SPONSORED CONTENT
Commercial Solar is a big investment, but not an overwhelming one
Solar offers a significant economic benefit for commercial property owners while also positively impacting the environment and offering a path to compliance for new municipal requirements like Energize Denver. A local, experienced solar installer will help you navigate the complexities of commercial solar to achieve financial success for your project.
JBS S.A. unit JBS USA Beef, which includes operations in Greeley, saw third-quarter revenue of $4.7 billion vs. $4.3 billion during the same quarter last year. Greeley-based Pilgrim’s Pride Corp. (Nasdaq: PPC), in which JBS USA has a controlling interest, saw revenue rise to $2.14 billion from $2.07 billion.
JBS S.A. ended the quarter with $3.4 billion in cash or cash equivalent.
JBS S.A. shares rose 2 percent to 8.34 reais ($3.59) Wednesday. An earnings conference call is scheduled for Thursday.
JBS S.A. (Bovespa: JBSS3) , a meatpacker based in Sao Paulo, Brazil, Wednesday posted revenue of $10.4 billion during the third quarter ended Sept. 30 vs. $8.3 billion during the third quarter of 2012. The company said the higher revenue came from increased revenues in all its units as well as from the devaluation of the Brazilian real.
However, the company also reported third-quarter expenses of $376.1 million, more than doubling the…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!