JBS Loses $230m on American Beef and Makes Money in Brazil

Commodities

Key Facts

—The split. JBS Beef North America posted negative EBITDA of about $230m in the first quarter, while JBS Brazil’s beef unit made roughly $168m.

—The margins. Minus 3.2% in North America against plus 4.4% in Brazil, on the company’s IFRS numbers.

—The direction. North America’s loss widened from $100.5m a year earlier. Brazil’s profit grew 28%.