Brazil meatpacker JBS sees slim trade war impact as Q1 earnings top forecasts
JBS, the world's largest meatpacker, reported a nearly 78% annual increase in net profit driven by its poultry and pork businesses in Brazil and the U.S., and said on Tuesday the global trade war has so far had little impact on its business. Its net profit rose to 2.92 billion reais ($521 million) in the first quarter from 1.64 billion reais a year earlier. In a financial statement, JBS said earnings before interest, tax, depreciation and amortization, a measure of operating income known as EBITDA, came in at 8.92 billion reais, above the 8.77 billion reais forecast by analysts.