JBS S.A. posts lower 3Q earnings

JBS S.A., the parent company of Greeley-based JBS USA, earned $94.5 million during the third quarter, down from the $157.8 million it earned the same period last year.

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.

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.


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