JBS Posts Record Revenue in 2025 Amid Market Challenges

MEAT processing giant JBS has announced record revenue and robust margins across its global businesses in North and South America and Australia in their full-year results for 2025, released yesterday.

Financial Highlights

The company reported a remarkable group-wide full-year revenue of US$86.2 billion, marking a 12% increase from the previous year. Additionally, net income for 2025 rose by 13%, reaching US$2 billion.

The exceptional results were fueled by strong sales across the company’s global operations, although revenue growth was somewhat counterbalanced by tighter margins in certain divisions. Notably, JBS’s US chicken business, Pilgrim’s Pride, JBS Australia, and its value-added businesses under the Seara division each contributed significantly to this growth, showcasing exceptional organic performance.

Strategic Insights

JBS’s global chief executive, Gilberto Tomazoni, emphasized the company’s vast scale and geographic diversity as vital competitive advantages. “Our geographic reach allows us to navigate industry cycles and disruptions effectively, capitalizing on the ongoing structural growth in protein demand,” he shared with shareholders.

Despite challenges within the U.S. cattle cycle, characterized by limited supply and escalating costs, Tomazoni highlighted the resilience of JBS’s diversified platforms. “Australia was a standout performer this year, achieving strong EBITDA growth and margin expansion, along with a remarkable 30% top-line growth in the fourth quarter,” he noted.

Regional Performance

JBS’s Australian division, which includes processing for beef, lamb, pork, smallgoods, and aquaculture, posted net sales of US$8.077 billion for 2025, up 21.5% from the previous year. The division’s adjusted pre-tax earnings reached US$916 million, up 37.9%. Despite a 20% increase in the cost of sales year-on-year, strong price dynamics in domestic and export markets, coupled with increased production, drove this growth.

JBS Beef North America recorded its highest sales ever in both the fourth quarter and for the full year 2025. The US beef division achieved net sales of US$28.13 billion, indicating a 15.9% increase compared to last year, although pre-tax earnings dipped to –US$319 million due to a 19% rise in cost of sales.

The performance was bolstered by resilient demand for U.S. beef and white meat, despite historically high cutout values. However, the rise in cattle prices, surpassing increases in cutout values, highlighted the ongoing supply constraints within the U.S. market, exacerbated by restrictions on live cattle imports from Mexico.

JBS Brazil also reported a transformative year, with sales soaring 21% as higher prices mitigated escalating cattle costs. The division achieved its highest slaughter volume on record, driven by strong global demand and effective geographic diversification strategies.

Market Reactions

• In the stock market, JBS shares (traded in both the NY and Brazil stock markets) saw a significant increase of 7.37% in pre-market trading, climbing to US$15.74 before eventually rising to US$16.92.

As JBS continues to capitalize on its diverse operational platforms, the company is poised to adapt and thrive amid evolving market conditions.