JBS Has Results Below Expectations in the First Quarter of 2023, but CEO Expects Improvement in Business in the Coming Quarters

Written by Bruno Teles

Published on 12/05/2023 at 14:39

foto: JBS

Be the first to react!

JBS (JBSS3) Has Been Severely Impacted In The First Quarter Of 2023. The Results Were Considered Out Of The Ordinary In Relation To The Resilience That The Company Usually Displays.

Analysts assessed that the company went through a “perfect storm” during the period, causing its shares to drop more than 10% at the beginning of the session on May 12.

Gilberto Tomazoni, Global CEO of the company, acknowledged that there were adversities in almost all countries where they operate. “If we look at the last 12 years, a period in which we already had a diversified global platform, this is the first quarter we faced adversity in almost all countries we operate,” he stated.

The Main Challenges Faced By The Company Were Rising Costs And Persistent Inflation, Along With A Delicate Balance Between Supply And Demand.

However, Tomazoni believes in an improvement in business in the upcoming quarters. “We expect improvement in all businesses. Now, the business where we expect the greatest difference is Seara. We do not provide guidance, only direction. We expect significant improvement in Australia. In beef in Brazil as well. And we expect improvement in the Pilgrim’s business as a result,” he explained.

ARTICLE CONTINUES BELOW

Container Export Costs, Mainly To Asia, Are Decreasing.

Australia, another important market for JBS, is expected to show improvements in the cattle cycle throughout 2023. In Brazil, the resumption of exports and new exports also offer promising prospects for the beef market.

JBS has stood out for its diversification in products and geography, which has been seen as its main strength during challenging times. Regarding the results for the second quarter of 2023, Tomazoni did not make predictions but believes in the company’s recovery in the coming quarters.

JBS Has Results Below Expectations in the First Quarter of 2023, but CEO Expects Improvement in Business in the Coming Quarters

JBS (JBSS3) Has Been Severely Impacted In The First Quarter Of 2023. The Results Were Considered Out Of The Ordinary In Relation To The Resilience That The Company Usually Displays.

The Main Challenges Faced By The Company Were Rising Costs And Persistent Inflation, Along With A Delicate Balance Between Supply And Demand.

Container Export Costs, Mainly To Asia, Are Decreasing.

The end of Nokia: the brand that was the cellphone of an entire generation has ended its smartphones, left Brazil, and today survives only in basic phones in India while seeking a new partner.

Workers were opening a modern road in Dover when they found, 6 meters below the asphalt, a 3,500-year-old boat made of stitched oak and plant fibers.

Dissatisfied with seeing people sleeping on the street, a man named Ryan Donais started building small mobile homes so that homeless people can escape the cold, each equipped with a bed, running water, electricity, and heating.

Consumers eat six times more chicken than in the 1960s, global meat supply quadruples in 60 years, and FAO report reveals the invisible cost on the plate: livestock could drive 80% of the increase in agricultural emissions over the next decade.

Using high-resolution satellite images, archaeologists rediscovered the Egyptian city of Imet, buried for centuries in the Nile Delta, revealing rare multi-story houses, granaries, and a sacred road linked to the cobra goddess Wadjet, from about 2,400 years ago.

Two 17-year-old Kenyans use coconut shells, corn cobs, and recycled materials to create an exhaust filter that reduces 93.3% of pollutant particles and wins an environmental award in Africa.

Man built a 5-acre lake to raise bass, but after 1,000 days the project turned into a wildlife sanctuary with eagles, deer, ducks, owls, and live cameras that transformed the farm into a biodiversity laboratory.

Owner of ChatGPT enters the stock market queue and could be worth $1 trillion, while Anthropic and SpaceX accelerate their own plans in a race that promises to test if the market is still willing to bet heavily on artificial intelligence.

Goodbye traditional minivans: the giant “Chinese Kombi” from Leapmotor arrives in stores with 5.28 meters, a battery of up to 115 kWh, and an electric version with a range of 720 km to transform the family car into an executive lounge on wheels in China.

Chinese drone BZK-005 receives new technology capable of locating radars, mapping communications, identifying radio frequency emitters, and conducting electronic intelligence missions in strategic areas near Japan, Taiwan, and the Western Pacific.

Trafficking and militia create a parallel market in Rio, start to control who sells flour, chicken, water, and gas, block competitors, and put bakeries and markets under constant pressure.

Refrigeration technicians become a rare commodity in Brazil: the lack of qualified labor is already affecting air conditioning, supermarkets, hospitals, industries, and data centers, while salaries exceed R$ 4,400 in CLT positions, and the billion-dollar sector rushes to train new professionals.

JBS Has Results Below Expectations in the First Quarter of 2023, but CEO Expects Improvement in Business in the Coming Quarters

JBS (JBSS3) Has Been Severely Impacted In The First Quarter Of 2023. The Results Were Considered Out Of The Ordinary In Relation To The Resilience That The Company Usually Displays.

The Main Challenges Faced By The Company Were Rising Costs And Persistent Inflation, Along With A Delicate Balance Between Supply And Demand.

Container Export Costs, Mainly To Asia, Are Decreasing.

The end of Nokia: the brand that was the cellphone of an entire generation has ended its smartphones, left Brazil, and today survives only in basic phones in India while seeking a new partner.

Workers were opening a modern road in Dover when they found, 6 meters below the asphalt, a 3,500-year-old boat made of stitched oak and plant fibers.

Dissatisfied with seeing people sleeping on the street, a man named Ryan Donais started building small mobile homes so that homeless people can escape the cold, each equipped with a bed, running water, electricity, and heating.

Consumers eat six times more chicken than in the 1960s, global meat supply quadruples in 60 years, and FAO report reveals the invisible cost on the plate: livestock could drive 80% of the increase in agricultural emissions over the next decade.

Using high-resolution satellite images, archaeologists rediscovered the Egyptian city of Imet, buried for centuries in the Nile Delta, revealing rare multi-story houses, granaries, and a sacred road linked to the cobra goddess Wadjet, from about 2,400 years ago.

Two 17-year-old Kenyans use coconut shells, corn cobs, and recycled materials to create an exhaust filter that reduces 93.3% of pollutant particles and wins an environmental award in Africa.

Man built a 5-acre lake to raise bass, but after 1,000 days the project turned into a wildlife sanctuary with eagles, deer, ducks, owls, and live cameras that transformed the farm into a biodiversity laboratory.

Refrigeration technicians become a rare commodity in Brazil: the lack of qualified labor is already affecting air conditioning, supermarkets, hospitals, industries, and data centers, while salaries exceed R$ 4,400 in CLT positions, and the billion-dollar sector rushes to train new professionals.

After spending more than $4 million on a plot of land that remained vacant for over a decade, Dallas approved a village with 50 micro-homes for homeless veterans, rent-free housing, a community center, and support next to a veterans’ hospital.

Brazilian Army had R$ 1.5 billion planned for operations, but a Defense budget freeze halted actions at the borders against drugs, illegal mining, and factions.

Labor shortage: even with good salaries, the profession faces a deficit of 5.8 million and makes hospitals compete for nurses worldwide

The Brazilian Army had R$ 1.5 billion planned for operations, but a freeze on Defense funds halted actions at the borders against drugs, illegal mining, and factions.

Owner of ChatGPT enters the stock market queue and could be worth $1 trillion, while Anthropic and SpaceX accelerate their own plans in a race that promises to test if the market is still willing to bet heavily on artificial intelligence.

Goodbye traditional minivans: the giant “Chinese Kombi” from Leapmotor arrives in stores with 5.28 meters, a battery of up to 115 kWh, and an electric version with a range of 720 km to transform the family car into an executive lounge on wheels in China.

Chinese drone BZK-005 receives new technology capable of locating radars, mapping communications, identifying radio frequency emitters, and conducting electronic intelligence missions in strategic areas near Japan, Taiwan, and the Western Pacific.

Trafficking and militia create a parallel market in Rio, start to control who sells flour, chicken, water, and gas, block competitors, and put bakeries and markets under constant pressure.

Refrigeration technicians become a rare commodity in Brazil: the lack of qualified labor is already affecting air conditioning, supermarkets, hospitals, industries, and data centers, while salaries exceed R$ 4,400 in CLT positions, and the billion-dollar sector rushes to train new professionals.