Friday, August 12, 2022

JBS profit drops 9.8 per cent

JBS profit declined by 9.8 per cent to $766 million for the second quarter.

Beef North America revenues declined by 4.6 per cent, but profits increased by 2.7 per cent,

The unit includes the former XL beef-packing plant in Alberta.

A greater-than-expected increase in cattle prices squeezed the company's margins. Higher input costs also weighed on the results.