1708 ET - Brazilian meatpacking giant JBS said low grain costs and steady demand for chicken and pork in the U.S. and Brazil helped it boost its profits in its fiscal third quarter, exceeding Wall Street estimates. JBS said its sales rose 6% to nearly $20 billion for the period, and posted a profit of $757 million as even as the company's U.S. beef operations, its largest unit by sales, remains pressured by a tight cattle supply. The meat industry is benefiting from reduced livestock feed costs for chicken and hogs. JBS rival Tyson Foods also surpassed analyst profit forecasts this week after saving nearly $1 billion on chicken feed costs in its fiscal 2024 compared with the prior year. (patrick.thomas@wsj.com)
(END) Dow Jones Newswires
November 13, 2024 17:09 ET (22:09 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。