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HomeMarketMeatpacker JBS's plunging profit beats forecasts By Reuters

Meatpacker JBS’s plunging profit beats forecasts By Reuters

© Reuters. FILE PHOTO: The logo of Brazilian meatpacker JBS SA is seen in the city of Jundiai, Brazil June 1, 2017. REUTERS/Paulo Whitaker/File Photo
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SAO PAULO (Reuters) – Brazil’s JBS SA (OTC:), the world’s largest meat producer, on Thursday reported a quarterly profit that plunged 47.1%, nevertheless beating analysts’ estimates as higher revenues helped offset rising costs.

The company posted a third-quarter net profit of 4.01 billion reais ($745.35 million), while analysts polled by Refinitiv had expected it to land at 3.75 billion reais.

($1 = 5.3800 reais)

Story Credit: investing.com

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