Fourth-quarter net sales rose 15% year-on-year to US$23.1 billion, while full-year revenue increased 12% to US$86.2 billion. Net income reached US$415 million in the quarter and US$2.0 billion for the year, up 1% and 15% respectively.
However, profitability came under pressure. Fourth-quarter adjusted EBITDA fell 7% to US$1.7 billion, while full-year EBITDA declined 5% to US$6.8 billion, reflecting higher input costs, particularly cattle prices, and tighter supply conditions in key markets.
CEO Gilberto Tomazoni said the results highlight the strength of JBS’s multi-protein strategy, with growth recorded across all business units. He added that the company maintained financial discipline, ending the year with leverage at 2.39 times and generating US$990 million in free cash flow in the fourth quarter.
Performance varied by segment. North American beef delivered record sales but faced margin compression due to elevated cattle costs and limited supply.
In Brazil, JBS reported strong growth supported by exports and domestic demand, while its Seara division achieved record export volumes despite temporary restrictions linked to an avian influenza case. Australian operations also saw improved profitability, helped by higher prices and operational efficiencies.
Looking ahead, JBS signalled continued investment in value-added products and geographic expansion, as it seeks to balance cost pressures with sustained global demand.
