JBS (JBS) Company Report

JBS N.V. announced the formation of JBS VIVA, a new company combining its leather production and marketing assets with those of VIVA S.A., aiming to become a global leader in the leather sector.
JBS S.A., a wholly-owned subsidiary of JBS N.V., will hold a 50% ownership stake in JBS VIVA, with the remaining 50% held by Viva Shareholders.
JBS VIVA is projected to process over 20 million hides annually, operate 31 factories, and employ more than 11,000 people across Brazil, Italy, Uruguay, Argentina, Mexico, and Vietnam.
JBS will appoint the Chairman of the Board and Chief Financial Officer for JBS VIVA.

Nov 25, 2025, 10:25 PM

6-K

JBS Reports Q3 2025 Results with Revenue Growth Amidst Profit Decline and Increased Debt

JBS

Earnings

New Projects/Investments

Listing/Delisting Issues

JBS reported net revenue of $22,597 million for Q3 2025, an increase from $19,926 million in Q3 2024. However, net result decreased to $581 million (EPS of $0.52) in Q3 2025 from $693 million (EPS of $0.62) in Q3 2024. Consolidated Adjusted EBITDA also declined to $1,835 million with an 8.1% margin in Q3 2025, down from $2,153 million and 10.8% in Q3 2024.
The company's Net Debt increased to $16,611 million in Q3 2025 from $13,721 million in Q3 2024, leading to a higher leverage ratio of 2.39x compared to 2.15x. Operating Cash Flow and Free Cash Flow also saw declines in Q3 2025 compared to Q3 2024.
JBS is making significant investments totaling approximately $835 million in new and expanded facilities across the U.S., including a new fresh sausage facility in Perry, Iowa, and an expansion in Ankeny, Iowa to create the largest ready-to-eat bacon and sausage plant in the company's U.S. operations.
JBS shares commenced trading on the NYSE on June 13, 2025, a strategic move aimed at broadening investor access and potentially reducing the cost of capital.

Nov 14, 2025, 2:00 PM

Presentation

JBS Reports Record Q3 2025 Net Sales and Strong Profitability

JBS

Earnings

Guidance Update

Share Buyback

JBS reported record net sales of $22.6 billion and a net income of $581 million for the third quarter of 2025, with an adjusted EBITDA of $1.8 billion (8.1% margin).
The company's leverage stood at 2.39x, and it achieved a 24% return on equity for the quarter, expecting to end the year with leverage below 2.5x.
Operational performance was strong across all business units, including record net revenue in JBS Beef North America and robust profitability in Australia, while SEARA's export restrictions to Europe and China were recently relieved.
JBS completed a $600 million share buyback program and paid $1.2 billion in dividends, with new pork expansion plants in Iowa projected to add $500 million-$750 million in revenues starting in 2027.

Nov 14, 2025, 2:00 PM

Transcript

JBS Reports Record Q3 2025 Net Sales and Strong Financial Performance

JBS

Earnings

Share Buyback

New Projects/Investments

JBS achieved record net sales of $22.6 billion and a net income of $581 million for the third quarter of 2025, with an adjusted earnings per share of $0.54.
The company demonstrated strength across all business units, including record net revenue for JBS Beef North America despite a challenging U.S. beef cycle, and consistent results for Seara following the recent relief of export restrictions to Europe and China.
JBS completed a $600 million share buyback program and paid $1.2 billion in dividends, ending the period with a leverage of 2.39 times and expecting to finish the year below 2.5 times.
The company is investing in expansion capital expenditures, including two new pork plants in Iowa projected to generate $500 million-$750 million in revenues with high double-digit margins, with ramp-up expected from 2027.

Nov 14, 2025, 2:00 PM

Transcript

JBS Reports Record Q3 2025 Net Sales and Strong Profitability

JBS

Earnings

Share Buyback

Dividends

JBS achieved record net sales of $22.6 billion and a net income of $581 million in Q3 2025, with an adjusted EBITDA margin of 8.1% (IFRS).
The company saw growth across all business units, including strong performance in Australia and consistent results from Friboi and Seara, despite a challenging U.S. beef cycle.
JBS completed a $600 million share buyback program and paid $1.2 billion in dividends, ending the quarter with a leverage of 2.39 times.
The U.S. beef supply is expected to remain challenging in 2026, with gradual improvement from 2027 onwards, while the recent relief of export restrictions to Europe and China is anticipated to positively impact Seara's pricing.

Nov 14, 2025, 2:00 PM

Transcript

JBS N.V. Reports Record Net Sales in Q3 2025 Amidst Mixed Profitability

JBS

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

JBS N.V. reported record net sales of $22,597 million in the third quarter of 2025, representing a 13% increase from the prior year.
Despite the sales growth, IFRS Adjusted EBITDA decreased by 15% to $1,835 million, and Net Income Attributable to JBS was $581 million, down from $693 million in Q3 2024, resulting in Earnings Per Share of $0.52.
The company's Return on Equity (LTM) reached 23.7%, and leverage (Net Debt / Adjusted EBITDA LTM) stood at 2.4x at the end of Q3 2025, which is in line with the company's long-term target.
While several segments, including JBS Beef North America, JBS Brazil, Seara, and JBS USA Pork, experienced declines in Adjusted EBITDA for Q3 2025 compared to the prior year, JBS Australia's Adjusted EBITDA increased by 42.7% to $249 million.

Nov 13, 2025, 10:28 PM

6-K

JBS N.V. concludes Share Repurchase Program

JBS

Share Buyback

JBS N.V. has concluded its Share Repurchase Program for Class A Shares and Brazilian Depositary Receipts (BDRs).
The company repurchased a total of 41,008,292 shares.
The total amount spent on the repurchase program was US$600 million.
JBS N.V. considers this program an efficient use of cash.

Nov 10, 2025, 11:24 AM

6-K

JBS N.V. Announces Expansion of Share Repurchase Program

JBS

Share Buyback

JBS N.V. has authorized an expansion of its previously approved program to repurchase Class A common shares and Brazilian Depositary Receipts.
The expansion adds up to an additional USD 200 million to the repurchase program.
This increases the total maximum investment under the Repurchase Program to USD 600 million, combining the original USD 400 million with the new expansion.
The program, which commenced on August 18, 2025, aims to return value to shareholders and will be funded by cash on hand and cash generated from operations.

Oct 14, 2025, 10:30 AM

6-K

JBS declares R$1.00 per share dividend payable June 2025

JBS

Dividends

At the May 23, 2025 EGM, JBS declared a R$2.218 billion dividend (R$1.00 per common share) from 2024 profit reserves, payable June 17, 2025.
Dividend record date is the close of B3 trading on May 23, 2025, with no interest or monetary adjustment, and payment via bank credit in local currency.
Domestic recipients: dividend income exempt from Income Tax; non-resident shareholders: subject to withholding to satisfy tax obligations from the JBS S.A.–JBS Participações merger (effective June 6, 2025), including possible 25% tax on gains if reporting requirements are unmet.

Jun 16, 2025, 12:00 AM

6-K

JBS N.V. completes dual listing and sets trading schedule

JBS

Delisting/Listing Issues

M&A

Merger of Shares and Redemption implemented on June 6, 2025; JBS S.A. shares are now fully owned by JBS Participações and have ceased trading on B3.
BDRs of JBS N.V. begin trading on B3 on June 9, 2025 under ticker JBSS32; Class A shares expected to start trading on the NYSE on June 12, 2025 under ticker JBS.
Fractions of BDRs will be aggregated and sold on B3, with net proceeds distributed to shareholders proportionally.
JBS N.V. will subsidize fees for converting BDRs into NYSE-listed Class A shares during the 30-day period starting June 11, 2025.