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JBS 2Q Profit Rose Slightly vs Year Earlier as Revenue, Costs Increased

By Jeffrey T. Lewis

 

SÃO PAULO--Brazil's JBS SA, the world's largest meat processor, said Wednesday its profit increased slightly in the second quarter as higher costs absorbed much of an increase in sales.

The meatpacking giant said it had net income of 4.3 billion reais, the equivalent of $833 million, compared with profit of 4.2 billion reais in the year-earlier period. Net revenue rose to 92.2 billion reais from 85.6 billion reais.

JBS said its cost of goods sold increased to 76.0 billion reais from 69.1 billion reais.

 

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

 

(END) Dow Jones Newswires

August 11, 2022 17:50 ET (21:50 GMT)

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