What guidance did JBS's management provide for the next earnings period?

What is the market's earnings forecast for JBS next quarter?

What were the key takeaways from JBS's earnings call?

Did JBS beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for JBS year over year?

What is JBS's latest dividend and current dividend yield?

What does JBS do and what are its main business segments?

What were the key takeaways from JBS’s earnings call?

- **Record Results**: Q3 2025 net sales of $22.6 billion, with adjusted EBITDA of $1.8 billion (8.1% margin) and net income of $581 million.
- **Strategic Expansion**: $500-750 million annual revenue from new U.S. pork plants by 2027, targeting higher-margin prepared foods.
- **Resilient Margins**: 24% ROE and 17% ROIC, with leverage at 2.39x, below 2.5x target.
- **Chicken Outlook**: 2026 U.S. market confidence despite Q4 price volatility, driven by constrained supply and new genetics.

**【CEO Summary Section】**
- **Record Performance**: Q3 2025 net sales reached $22.6 billion, with adjusted EBITDA of $1.8 billion (8.1% margin). Net income was $581 million, driven by strong demand across all regions.
- **Regional Highlights**: 
  - **U.S. Beef**: Despite high cattle costs, disciplined execution maintained profitability. Prepared Foods segment sales grew over 25%.
  - **Australia**: Strong margins due to improved cattle availability and global demand.
  - **Brazil**: Consistent performance in export and domestic markets, with Seara launching innovative products like high-protein ready meals.
- **Expansion Plans**: Two new pork plants in Iowa expected to generate $500-750 million in annual revenue by 2027, targeting higher-margin prepared foods.

**【CFO Financial Commentary】**
- **Financial Health**: Return on equity (ROE) of 24%, return on invested capital (ROIC) of 17%, and leverage of 2.39x, within target range.
- **Cash Flow**: Free cash flow of $383 million, driven by EBITDA growth and disciplined capital allocation. Share buyback program completed ($600 million), with $1.2 billion in dividends and CapEx planned for 2025.
- **Debt Management**: Issued $570 million in long-term Brazilian debentures, extending average debt maturity to 15.4 years at 5.6% cost. 2025 leverage expected to stay below 2.5x.

**【Q&A Highlights】**
- **Pork Expansion**: Iowa plants to focus on value-added products, with quick ramp-up due to complementary supply chains. Margins expected in high double digits.
- **Chicken Market**: U.S. prices down in Q4 but stable demand for prepared foods. 2026 outlook positive due to constrained supply and new genetic lines.
- **Working Capital**: $700 million 2026 increase driven by grain and livestock prices. Half from volume growth, half from pricing volatility.
- **M&A Strategy**: No immediate M&A, but flexibility to pursue opportunities if aligned with ratings and capital structure.

JBS N.V.(JBS)-20251114-2025 Q3 Earnings call transcript

- **Record Revenue Growth**: Q2 2025 net sales of $21 billion (+9% YoY), driven by U.S. prepared foods and global diversification.
- **Strategic Investments**: $735 million allocated to U.S. facilities, supporting 25-30% capacity expansion in chicken and pork.
- **Resilient Margins**: Seara Brazil delivered 18.1% EBITDA margin despite avian influenza; Australia beef EBITDA margin 12.7% (+50bps YoY).
- **Share Buyback**: $400 million program announced, reflecting financial strength and shareholder returns focus.
- **Challenges & Recovery**: U.S. beef margins expected to improve sequentially, while pork margins normalize in Q3 post-China trade resolution.

**【Management Opening Remarks】**
- JBS completed its dual listing on the NYSE, enhancing global visibility and investor base.
- Q2 2025 net sales reached $21 billion (9% YoY growth), with adjusted EBITDA of $1.8 billion (8.4% margin).
- Announced a $400 million share buyback program, reflecting confidence in long-term value creation.
- Strategic investments in U.S. prepared foods include a $135 million sausage facility, $200 million beef plant upgrades, and a $400 million prepared foods plant in Georgia.

**【CEO Commentary】**
- Poultry business (Pilgrim's Pride) achieved record EBITDA of $687 million, driven by lower grain costs and U.S. demand.
- Seara Brazil delivered 18.1% EBITDA margin despite avian influenza, showcasing operational resilience.
- Beef business faces challenges from cattle cycle and trade restrictions, but pork margins expected to normalize in Q3.
- Australia's beef exports grew 20% YoY, supported by favorable livestock availability and operational efficiency.

**【CFO Financial Commentary】**
- GAAP net profit: $528 million (EPS $0.48); adjusted net income: $583 million (EPS $0.53).
- Free cash flow breakeven target for 2025: $5.5 billion, driven by $2 billion in capex and working capital management.
- Debt refinanced to extend maturity (15 years avg) with minimal cost increase (5.6% avg coupon).
- Leverage at 2.27x, within target range, with interest coverage stable at 7.7x.

**【Q&A Highlights】**
- **U.S. Beef Margins**: Wesley Batista expects sequential improvement in Q3 but warns of 3-4 quarters of challenging margins due to cattle cycle.
- **China Tariffs Impact**: Gilberto Tomazoni notes Brazil's global platform mitigates U.S. tariff impact, with Friboi Brazil compensating through domestic and alternative export growth.
- **Prepared Foods Growth**: Wesley Batista projects 25-30% capacity expansion in U.S. chicken and pork, targeting high-margin value-added products.
- **Australia Beef Outlook**: Gilberto Tomazoni forecasts 2-digit EBITDA margins for Australia, driven by livestock availability and operational efficiency.
- **Share Buyback**: Guilherme Cavalcanti emphasizes excess cash utilization, with no immediate M&A plans.


Actual	0.5175	0.52	0.39
Forecast	0.4746	0.5074	0.4076
Surprise	+9.04%	+2.48%	-4.32%

Actual	21.00B	22.60B	23.06B
Forecast	21.43B	21.96B	22.80B
Surprise	-1.97%	+2.92%	+1.16%

JBS

JBS fundamentals

JBS Q4 2025 Earnings

Earnings Call

You can ask Aime

JBS

JBS fundamentals

JBS Q4 2025 Earnings

Earnings Call

JBS Earnings Call Summary for Q4/20259:00 AM on Mar 26, 2026

JBS Earnings Call Summary for Q3/20259:00 AM on Nov 14, 2025

JBS Earnings Call Summary for Q2/20259:00 AM on Aug 14, 2025

You can ask Aime