“We had a quarter of sustainable sales growth, consistent operating results, and robust cash generation and net income,” said Wesley Batista, CEO of JBS.
Net sales totaled 43 billion reais ($11.3 billion), an increase of 39.8 percent. Net income for the quarter was 3.4 billion reais ($895.9 million) equivalent to 1.19 reais (31 cents) per share when compared to the third quarter in 2014. Adjusted net income in the period was 4.2 billion reais ($1.1 billion).
The company reported notable sales growth for the quarter in its JBS Foods business unit, with net revenue of 5,012.2 million reais ($1,323.02 million) a 48.4 percent increase over the same quarter last year. Additionally JBS Mercosul reported net revenue of 7146.9 million reais ($1886.50 million) in Q3, a 10.5 percent sales growth over the third quarter of fiscal 2014.
Company-wide 69 percent of the firm's global sales were derived from the markets where it operates with the remaining 31 percent of sales being export sales.
In the US:
• Sales comprised 47 percent of JBS’ revenue in the quarter.
• Net revenue for JBS USA Beef was $5.750.9 million, down 1.7 percent from the third quarter in fiscal 2014.
• Net revenue for JBS USA Pork was $785.4 million in the quarter, down 16.3 percent from the same period last year.
Net revenue for JBS USA Chicken (Pilgrim’s Pride Corp.) was $2,112.5 million in the third quarter of fiscal 2015, down about 7 percent from the third quarter of fiscal 2014.
“We have great confidence in our global food production platform which is being boosted by a stronger and increased value-added product portfolio and with well-recognized brands,” Batista said. “We envision several opportunities to expand our business in the prepared foods and value-added segment. To achieve this goal, we will continue to invest in high quality products, innovation and brands.”
