JBS reports big drop in 1Q earnings
JBS, the Brazilian meatpacker whose subsidiary JBS USA owns the majority of stock in Greeley-based Pilgrim’s Pride, earned $73.7 million in the first quarter of last year.
The company reported a 9-percent increase in net revenue to $8 billion during the first quarter. JBS ended the quarter with $2.6 billion in cash.
SPONSORED CONTENT
How dispatchable resources enable the clean energy transition
Platte River must prepare for the retirement of 431 megawatts (MW) of dispatchable, coal-fired generation by the end of the decade and address more frequent extreme weather events that can bring dark calms (periods when there is no sun or wind).
The company blamed a loss of $45.4 million from its beef unit, JBS USA Beef, which includes Australia. It also pointed to the high price of livestock and the appreciation of the Australian dollar against the U.S. dollar.
JBS USA Chicken posted $104 million in adjusted earnings during the first quarter, reversing its loss of $53 million during the previous first quarter.
JBS, the Brazilian meatpacker whose subsidiary JBS USA owns the majority of stock in Greeley-based Pilgrim’s Pride, earned $73.7 million in the first quarter of last year.
The company reported a 9-percent increase in net revenue to $8 billion during the first quarter. JBS ended the quarter with $2.6 billion in cash.
The company blamed a loss of $45.4 million from its beef unit, JBS USA Beef, which includes Australia. It also pointed to 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!