Earnings Releases·Nov 9, 2026, 4:30 PM ET

JBS — Third Quarter 2026 Earnings Summary

Net sales rose 1% year-over-year to $22.7 billion in Q3 2026, but profitability declined sharply with IFRS Adjusted EBITDA falling 36% to $1.181 billion and Net Income dropping to $164 million ($0.15/share) from $581 million ($0.52/share) in the prior year.
Financial leverage and coverage ratios deteriorated significantly, with net leverage increasing to 3.54x from 2.39x and Return on Equity falling to 8.2% from 23.7%, driven by negative free cash flow of $167 million and higher working capital consumption.
Strategic capital management included increasing the revolving credit facility to $4.2 billion to boost total liquidity to $8.2 billion, while share buybacks decreased to $1.2 million for the nine-month period compared to $362.5 million previously.
Future outlook highlights constructive market dynamics in Q4 for JBS Beef North America and Brazil, supported by strengthened Chinese demand for 2027 quotas and seasonal domestic consumption, despite ongoing pressures from global pork supply and input costs in other segments.