JBS SA said its normalized net income for the fourth quarter came to 32 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 24 centavos per share.
The per-share result swung to a profit from the prior-year loss of 6 centavos.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 856.4 million reais, compared with a loss of 175.9 million reais in the prior-year period.
The normalized profit margin climbed to 2.1% from negative 0.4% in the year-earlier period.
Total revenue declined 11.7% on an annual basis to 41.63 billion reais from 47.16 billion reais, and total operating expenses decreased 13.9% from the prior-year period to 39.25 billion reais from 45.61 billion reais.
Reported net income totaled 691.8 million reais, or 26 centavos per share, compared to a loss of 277.3 million reais, or a loss of 9 centavos per share, in the prior-year period.
For the year, the company's normalized net income totaled 8 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15 centavos.
EPS declined 94.6% from 1.53 reais in the prior year.
Normalized net income was 224.1 million reais, a decline of 94.9% from 4.44 billion reais in the prior year.
Full-year total revenue increased on an annual basis to 170.38 billion reais from 162.91 billion reais, and total operating expenses grew 6.1% year over year to 163.20 billion reais from 153.79 billion reais.
The company said reported net income fell 91.7% year over year to 382.6 million reais, or 14 centavos per share, in the full year, from 4.64 billion reais, or 1.60 reais per share.
As of March 14, US$1 was equivalent to 3.16 reais.