Latest news with #beefoperation
Bloomberg
2 days ago
- Business
- Bloomberg
Marfrig's Home Beef Business Helps Cushion US Cattle Squeeze
Marfrig Global Foods SA's operating earnings shrunk less than expected as rising profits at its South American beef operation helped it weather the impact of a severe cattle shortage in the US and a bird flu outbreak in Brazil. Earnings before items such as interest and taxes fell 11% from a year earlier to 3 billion reais ($550 million) in the three months ended in June, the company said in a statement. That compares with a 2.12 billion-real average of analyst estimates compiled by Bloomberg.
Bloomberg
3 days ago
- Business
- Bloomberg
JBS Sees Bigger Beef Toll on Profits as Cattle Shortage Deepens
The smallest US cattle herd in decades is taking a bigger toll on profits at JBS NV, driving deepening losses at its biggest operation. The results for the world's largest meat supplier are the first since JBS transferred its listing to New York from Sao Paulo in June. Under IFRS accounting standards, adjusted earnings before interest and taxes fell 12% from a year earlier to $1.2 billion. JBS posted a loss of $293 million at its North American beef operation, an 11-fold widening from a year earlier.
