JBS Profit Drops 56 Percent on North American Challenges
The world largest meatpacker reported a first quarter net profit of 221 million dollars as high livestock prices and low cattle availability pressured margins in the United States. While net sales grew 11 percent to 21.61 billion dollars, operational hurdles in North America offset strong performance in Brazil.
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JBS NV-A posted a 56% decline in first-quarter net profit to $221 million, missing market estimates of $236 million. High livestock prices and low cattle availability in the United States pressured margins throughout the period. North American beef operations generate one-third of total sales, making regional cyclical downturns a primary risk for investors.
