JBS doubles 4Q income, earns 2013 profit

Brazilian meatpacker JBS S.A. (Bovespa: JBSS3), parent of Greeley based JBS USA, earned $60.6 million during the fourth quarter, more than doubling the $28.6 million in profit earned during the same period a year earlier.

Fourth-quarter net revenue totaled $11.7 billion vs. $9.4 billion during the fourth quarter of 2012.

For the year, JBS S.A. earned $398.9 million, up from a $309.4 million profit in 2012.

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Export sales rose to $12 billion during 2013, up from $10 million in 2012.

JBS said the export growth came from an increase in protein consumption in emerging markets and an increase in the number of countries to which it exported.

JBS exports products to more than 150 nations. It said its export sales will reach $15 billion this year.

“Our feeling is that the U.S. dollar will continue to strengthen in relation to the Brazilian real, and that our exports, as well as the valuation of our assets, will continue to be benefitted,” CEO Wesley Batista said in an earnings statement.

JBS S.A.’s Greeley-based subsidiary JBS USA posted fourth-quarter earnings before interest, taxes, depreciation and amortization of $113.9 million vs. $103.3 million during the fourth quarter of 2012.

JBS USA saw fourth-quarter net sales of $4.8 billion, down from the $4.9 billion the same quarter a year earlier. JBS owns a controlling interest in Greeley-based Pilgrim’s Pride Corp. (Nasdaq: PPC).

Pilgrim’s Pride reported earlier this year that it earned $143.4 million during the fourth quarter, a 529-percent improvement from the $22.8 million it earned during the same period a year earlier.