Adjusted Ebitda stood at R$4.4 billion (US$1.16 billion), +2.6% higher than the third quarter of the previous year and representing the highest ever recorded by JBS in one quarter. The Company reported a loss of R$ 133.5 million (US$35.27 million) for the period under review but, when adjusted and excluding the impact of exchange variation, adjusted net income totalled R$2.1 billion (US$554.95 million). JBS’ shares rose +5.5% upon the announcement of results on November 13.
JBS Brazil, including the leather processing division, says its net revenue totalled R$7,040.1 million (US$1.86 billion) in the quarter, a +37.2% growth over 3Q17, with a +29.3% increase in the number of processed animals.
Since last year, the JBS has been focussing on cash generation and debt reduction. Reportedly, the Company has sold about R$5 billion (US$1.32 billion) in assets, hence, reducing debt by US$3.3 billion since the second quarter of 2017. The debt is expected to be further reduced by US$1 billion in the last quarter of 2018.
