First-quarter net sales rose 11% year-on-year to US$21.6 billion, while net income attributable to shareholders fell 56% to US$221 million.
Profitability came under pressure during the quarter. IFRS-adjusted EBITDA declined 26% to US$1.13 billion, while adjusted operating income fell 48% to US$516 million, reflecting challenges in several business segments.
CEO Gilberto Tomazoni said JBS recorded sales growth across all business units, underscoring the strength of its multi-geography and multi-protein platform. He said profitability was most affected by JBS Beef North America, where cattle cycle pressures constrained margins, and by Pilgrim’s Pride, which faced weather-related disruptions and temporary plant stoppages for operational adjustments.
Performance varied by segment. JBS Beef North America posted record first-quarter sales, supported by resilient consumer demand and demand for affordable protein options in the U.S. However, North American beef profitability was pressured by elevated cattle prices, restricted live cattle imports from Mexico and tight supply conditions.
JBS Brazil also reported record first-quarter sales, driven mainly by higher prices and strong export demand, while Seara increased sales by 11% and continued to expand its value-added portfolio and processing capacity despite more challenging operating conditions in key export markets linked to conflict in the Middle East. In Australia, higher prices in domestic and export markets supported revenue growth, although results in U.S. dollar terms were negatively affected by currency movements.
