JBS posts revenue hike for second quarter

SAO PAULO, Brazil – JBS S.A., parent company of JBS USA based in
Greeley, posted net revenue of $14.6218 billion Brazilian reals ($9.215
billion U.S. dollars) in the second quarter of 2011, a 3.6 percent
increase over the same quarter a year ago.

The report said JBS USA Beef posted a 19.1 percent increase in revenue
growth for the quarter, while JBS USA Chicken (Pilgrim’s Pride) posted
16.7 percent revenue growth. JBS USA Pork had 14.4 percent revenue
growth for the quarter that ended June 30.

The JBS report also noted the company raised $2 billion in U.S. dollars
in long-term debt through JBS USA, which will be used to pay down
shorter-term debts in Brazil. The action is expected to save the company
about $150 million U.S. per year.

The company ended the quarter with $5 billion U.S. in cash, equivalent to more than 100 percent of its short-term debt.

JBS USA reported net sales of $846 million U.S. for the second quarter
of 2011 compared to $739 million in the same quarter in 2010.

on Facebook on LinkedIn