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JBS Reports Third Quarter 2026 Results

JBS
  • JBS N.V. reported third-quarter 2026 net sales of $22.7 billion, a 1% increase from the prior year.
  • IFRS Adjusted EBITDA for the quarter was $1.181 billion, down 36% from $1.835 billion in the same period last year.
  • US GAAP Adjusted EBITDA was $1.001 billion, representing a 38% decline compared to the prior year.
  • Net income attributable to JBS shareholders was $164 million, down from $581 million in the previous year.
  • Earnings per share (EPS) were $0.15, compared to $0.52 in the prior year.
  • Leverage (Net Debt / Adjusted EBITDA LTM) increased to 3.54x from 2.39x a year ago.
  • Free cash flow was negative $167 million, driven by a decline in Adjusted EBITDA and higher working capital consumption in Brazil.
  • JBS Beef North America returned to positive Adjusted EBITDA under US GAAP at $21 million, supported by better market conditions.
  • JBS Brazil reported lower net sales due to the completion of the 2026 Chinese export quota, though fourth-quarter demand is expected to strengthen.
  • Pilgrim's Pride saw demand growth in the U.S. while prepared foods drove profitable growth globally.
  • JBS USA Pork faced lower net sales and profitability due to softened domestic demand and increased global pork supply.
  • JBS Australia profitability was pressured by higher cattle costs, lower shipments, and export quota completions.
  • Seara delivered strong profitability with record fresh poultry export volumes in September.
  • The Company increased its revolving credit facility to $4.2 billion, bringing total liquidity to $8.2 billion.
  • Average debt term is 14.4 years with an average cost of 5.7%, and more than 95% of debt is at fixed rates.
  • A conference call to discuss these results is scheduled for November 10, 2026.