JBS reports best quarter in the company’s history

Brazil
Published:  13 August, 2021
Credit: Joseph Sohm

The world’s largest meat company reported net income of R$4.4 billion (US$840 million) in the second quarter of 2021, the best financial quarter in the company’s history and a 30% rise on the same period last year.

EBITDA was R$11.7 billion (US$2.23 billion), with a margin of 13.7%. The company reported that North America drove the results this quarter, with strong domestic and export demand, supporting historically high meat prices in the U.S. and Canada.

JBS also reported that exports of Canadian and U.S. beef grew substantially year-on-year, driven primarily by shipments to China, which bought nearly a third of the company’s meat exports in Q2-2021.