JBS Surges After Profit Beats Estimates With Chicken Boost
- Higher pork, chicken margins drove quarterly profit rebound
- Company shares have trailed rivals amid US cattle woes
JBS CEO Gilberto Tomazoni
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
JBS SA’s shares soared to the highest since 2022 as a boost from increased chicken demand helped the world’s largest meat producer mitigate the impact of a severe shortage of cattle in the US.
JBS’s earnings are recovering faster than anticipated from last year’s plunge. The Sao Paulo-based company made a profit of 0.74 real per share (14 cents) in the first quarter, the company said in a filing. That reversed a loss during the same period a year earlier and topped all of the analyst estimates compiled by Bloomberg.