JBS Reports Profit After Year-Ago Loss as Beef Margins Widen
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JBS SA, the world’s largest beef producer, posted a second-quarter profit after last year’s loss amid improved Brazilian beef margins and a stronger U.S. dollar that boosted gains from overseas operations in local currency.
Net income of 169.5 million reais ($83.6 million) compares with a loss of 180.8 million reais a year ago, the Sao Paulo-based company said in a regulatory filing yesterday. The average adjusted profit estimate of five analysts tracked by Bloomberg was 253.9 million reais.