Mike Pearson takes a look at the third quarter earnings report distributed by JBS, the world's largest meatpacker.

JBS reported a net revenue of 19.9 Billion dollars, a six percent increase over the same period last year which was primarily due to a strong pork and chicken demand. JBS reported a $693 Million profit for the third quarter.

The JBS report also looks at the ongoing challenges regarding cattle.

Company executives at JBS say they have successfully navigated tight cattle supplies through 2024.

The company highlighted the SARA segment which includes pork and chicken, which they say was a major contributor to their success with a 4.9 percent increase in revenue, $2.2 billion this year which highlights the global appetite for protein.

The report also shows that the results from Brazil are especially strong.

In the EBITDA report, JBS reported 2.2 Billion in earnings before interest, taxes, depreciation, and amortization which is an alternate measure of profitability to net income. It's a way to measure corporate efficiency. 94 percent better than same quarter last year.

The report was very bullish in reporting a net revenue $77 Billion or $7.1 billion in adjustable EIDBTA.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.

Related:Farm Progress America, Dec. 10, 2024