JBS reported consolidated net revenue of US$23.9 billion in the second quarter of 2026, up 14% year-on-year and a new record for the company.
However, profitability declined. Adjusted EBITDA fell 18.5% to US$1.429 billion, with a margin of 6.0%, compared with 8.4% in the same period a year earlier. Net income attributable to shareholders was negative US$102 million, mainly affected by early bond repayments, US$133 million in antitrust settlements and other non-recurring items.
CEO Gilberto Tomazoni noted that, compared with the first quarter, profitability had already improved across most business units.
JBS Beef North America, the company’s US beef division, reported sales of US$7.77 billion, up 14.2%, but EBITDA remained negative at a loss of US$78 million, although this was an improvement from the US$233 million loss recorded in the same quarter last year.
Tight cattle supplies and the closure of the border with Mexico during the quarter continued to pressure margins, which stood at -1.0%. The company announced the closure of two plants, in Souderton, Pennsylvania, and Memphis, Tennessee, and consolidated its beef operations into a single structure called Beef USA.
JBS Brasil, by contrast, posted its highest-ever second-quarter EBITDA, with sales of US$4.585 billion, up 28% year-on-year, driven by higher prices and export volumes, mainly to China to fill the quota.
Leverage ended the quarter at 3.1x, slightly above the company’s long-term target. In August, JBS increased its revolving credit facility from US$3.5 billion to US$4.2 billion, lifting total liquidity to US$7.7 billion.
The company was also added to the Russell 1000 and Russell 3000 indexes and distributed US$1 billion in dividends to shareholders during the quarter.
