JBS reports lower profit due to sales decline and currency impact
- JBS’s profit in 3Q shrank due to decline in sales and weaker dollar
- Net income dropped to BRL572.7 million from BRL4.0 billion in the previous year
- Earnings per share decreased from BRL1.81 to BRL0.26
- Net revenue fell to BRL91.4 billion from BRL98.9 billion
- JBS Beef North America unit saw a 7.2% increase in revenue in dollars
- Pilgrims Pride unit experienced a 2.4% decline in revenue in dollars
JBS, the Brazilian meat packer, reported a decline in profit for the third quarter. The decrease in sales at several of the company’s units, combined with a weaker dollar, contributed to the decline. Net income dropped to BRL572.7 million, compared to BRL4.0 billion in the same period last year. Earnings per share also decreased from BRL1.81 to BRL0.26. Net revenue fell to BRL91.4 billion from BRL98.9 billion. While revenue at JBS Beef North America unit increased by 7.2% in dollars, it declined by 0.3% in Brazilian real reais. Revenue from JBS’s Pilgrims Pride unit fell by 2.4% in dollars. The sales numbers were slightly better than market expectations, but net income fell short.
Factuality Level: 8
Factuality Justification: The article provides specific financial figures and compares them to previous periods, indicating a decline in profit and sales. The information is supported by actual numbers and market expectations. However, the article lacks additional context or analysis, making it somewhat limited in terms of depth and perspective.
Noise Level: 7
Noise Justification: The article provides some relevant information about JBS’s profit decline in the third quarter, including the decline in sales and weaker dollar. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article also does not explore the consequences of the profit decline on stakeholders or hold powerful people accountable. Overall, it contains some relevant information but lacks depth and analysis.
Financial Relevance: Yes
Financial Markets Impacted: The article pertains to the financial performance of JBS, a Brazilian meat packer company.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the financial performance of JBS in the third quarter, including a decline in sales and net income compared to the previous year. There is no mention of any extreme events or their impact.
Public Companies: JBS (JBS), Pilgrims Pride (Pilgrims Pride)
Key People:
Reported publicly:
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