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JBS SA profit misses consensus by 15.3% in Q3

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JBS SA profit misses consensus by 15.3% in Q3

JBS SA said its third-quarter normalized net income was 1.16 reais per share, compared with the S&P Capital IQ consensus estimate of 1.37 reais per share.

EPS increased year over year from 35 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.34 billion reais, an increase from 1.00 billion reais in the prior-year period.

The normalized profit margin increased to 7.8% from 3.2% in the year-earlier period.

Total revenue grew 39.8% year over year to 43.03 billion reais from 30.78 billion reais, and total operating expenses grew 43.5% year over year to 40.16 billion reais from 27.99 billion reais.

Reported net income rose on an annual basis to 3.44 billion reais, or 1.19 reais per share, from 1.10 billion reais, or 38 centavos per share.

As of Nov. 11, US$1 was equivalent to 3.76 reais.