JBS profits on higher beef prices, exports
Brazilian meatpacker JBS S.A. (Bovespa: JBSS3) earned $428.7 million during the third quarter, up from $86.4 million during the same period a year earlier.
JBS S.A., the parent of Greeley-based JBS USA, posted third-quarter revenue of $12.1 billion, up from $9.5 billion during the same quarter last year, according to an earnings statement released Wednesday.
JBS attributed the higher revenue to performance of its beef divisions. JBS USA Beef, which includes the Greeley beef processing plant, posted revenue of $2.3 billion, up from $1.8 billion. The increase came from increased sales volume in domestic and export markets, such as Japan, China and South Korea, as well as increased beef prices.
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The company’s Mercosul beef business, posted revenue of $2.5 billion, up from $2.2 billion during the third quarter of last year. The increase came from higher export sale prices despite a decrease in the number of cattle processed by the business, according to JBS. Mercosul has operations in Brazil, Argentina, Paraguay and Uruguay.
Brazilian meatpacker JBS S.A. (Bovespa: JBSS3) earned $428.7 million during the third quarter, up from $86.4 million during the same period a year earlier.
JBS S.A., the parent of Greeley-based JBS USA, posted third-quarter revenue of $12.1 billion, up from $9.5 billion during the same quarter last year, according to an earnings statement released Wednesday.
JBS attributed the higher revenue to performance of its beef divisions. JBS USA Beef, which includes the Greeley beef processing plant, posted revenue of $2.3 billion, up from $1.8 billion. The increase came from increased sales volume in domestic and export markets, such as Japan, China and…
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