GREELEY, Colo., May 12, 2026 (GLOBE NEWSWIRE) -- JBS reported net revenue of US$21.6 billion in 1Q26, an increase of 11% compared to 1Q25. Net income totaled US$221 million from January through March this year. The main drivers behind this performance were the operations of JBS Brazil, supported by strong global demand, and the consistent performance of Seara in both domestic and international markets.

The results demonstrate the resilience of the Company’s global multi-protein and multi-geography strategy. The performance of operations in Brazil and the strength of other business units helped offset the challenges faced due to the North American cattle cycle. During the first quarter of 2026, JBS reported adjusted EBITDA of US$1.13 billion, with a margin of 5.2%. In the same period, return on equity (ROE) was 22.1%.

“In the first quarter of 2026, we remained firmly focused on operational excellence. We understand the environment in which we operate and the natural cycles of each protein, and we manage the business with discipline and responsibility. That is why we adopted an austerity approach to reinforce cash generation and ensure we extract maximum value from our assets and investments,” said Gilberto Tomazoni, JBS Global CEO.

He also highlighted that the quarter was particularly pressured by the Company’s beef operation in the United States.

Cash flow consumption during the quarter reflects the typical seasonality of the period, marked by the concentration of supplier payments. Another factor affecting cash flow was the 20% increase in CapEx compared to 2025, totaling US$2.4 billion this year.

Dollar-denominated leverage closed the quarter at a balanced 2.77x, within JBS’s long-term target range.

According to Guilherme Cavalcanti, JBS Global CFO, the Company’s solid financial position provides protection against volatility.

“We executed our Liability Management strategy, extending the average maturity of our debt to 15.6 years, with an attractive average cost of 5.7% per year and no significant maturities expected until 2031,” said Cavalcanti.

According to the CFO, this disciplined capital allocation strategy provides security and liquidity to navigate operational cycle volatility while JBS continues investing in expansion.

Business Units

JBS Beef North America

The U.S. beef operation posted revenue of US$7.167 billion in 1Q26. EBITDA was negative US$230 million, with a margin of -3.2%. The business faced a perfect storm: lower cattle availability amid one of the most acute phases of the cattle cycle impacted operations and further increased cattle procurement costs for processing.

During the period, the Company advanced organizational and operational adjustments across its U.S. beef platform, focusing on simplifying the structure and improving efficiency in response to the more adverse environment. The initiative also reflects a broader focus on capturing synergies across the businesses, enhancing efficiencies and further strengthening the platform for long-term performance.

Pilgrim’s Pride

With an EBITDA margin of 9.9% in 1Q26, Pilgrim’s Pride was also impacted by extreme winter weather events. Even so, the Company reported net revenue of US$4.529 billion during the period. In addition, the Company took advantage of seasonality to carry out planned maintenance shutdowns and modernize production facilities, improving its product mix to support growth and key customers in the coming months.

In Europe, the operation maintained stable results compared to last year, supported by its balanced portfolio across proteins and consumption occasions. In Mexico, the operation expanded its branded portfolio in fresh and prepared foods.

JBS USA Pork

The U.S. pork business posted an EBITDA margin of 13.5% and record first-quarter net revenue of US$2.032 billion. The consistent results reflect excellence in execution, strong domestic consumer demand for affordable proteins, and ongoing efforts to expand the branded and value-added product portfolio.

JBS Brazil

With record net revenue for a first quarter at US$3.78 billion and an EBITDA margin of 4.4%, JBS Brazil was one of the highlights of the period. Results were driven by strong volumes, supported by global demand and geographic diversification of export destinations. In the domestic market, Friboi continues to deepen partnerships with key customers and focus on offering value-added products.

According to Cepea-Esalq, the average live cattle price during the quarter was R$338 per arroba, an increase of 6% compared to 1Q25. As a result, despite higher net revenue, profitability was pressured by elevated cattle costs, reflecting strong international demand.

Seara

Seara posted an EBITDA margin of 15.5% in 1Q26. Sustained sales growth in exports and the domestic market, which generated US$2.379 billion in net revenue, reflects operational discipline and commercial excellence.

Even amid a more challenging operating environment in key markets resulting from the conflict in Iran, the Company maintained its growth pace. Seara continues to invest heavily in its brand fundamentals, focusing on expanding its value-added portfolio and innovating.

JBS Australia

The Australian operation maintained strong execution, reporting net revenue of US$2.145 billion, supported by higher volumes in domestic and export markets, which offset cattle cost increases of nearly 30% over the last 12 months.

EBITDA margin for the first quarter of 2026 was 6.2%, driven by operational execution and higher productivity, especially in the salmon and pork segments. The depreciation of the Australian dollar against the U.S. dollar impacted the conversion of results into U.S. dollars.

About JBS

JBS is a leading global food company, with a diversified portfolio of high-quality products including chicken, pork, beef, lamb, fish, and plant-based proteins. The Company employs more than 282,000 people and operates in more than 20 countries, such as Brazil, the United States, Canada, the United Kingdom, and Australia. Worldwide, JBS offers a broad portfolio of brands recognized for excellence and innovation, such as Friboi, Seara, Swift, Pilgrim’s Pride, Moy Park, Primo, Just Bare, among others, which reach consumers’ tables daily in 180 countries. The Company also invests in related businesses such as leather, biodiesel, collagen, fertilizers, natural casings, solid waste management solutions, recycling, and transportation, with a focus on the circular economy. Learn more at jbsglobal.com.

Media Contact:

Nikki Richardson
nikki.richardson@jbssa.com