GREELEY, Colo. — JBS reports net revenue of $21.6 billion in the first quarter of 2026, an increase of 11 percent compared to 1Q 2025. Net income totaled $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 company noted in its announcement.
The results demonstrate the resilience of the company’s global multi-protein and multi-geography strategy, JBS added in its release. 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 $1.13 billion, with a margin of 5.2 percent. In the same period, return on equity (ROE) was 22.1 percent.
“In the first quarter of 2026, we remained firmly focused on operational excellence,” Gilberto Tomazoni, JBS global CEO, said. “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.”
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 percent increase in CapEx compared to 2025, totaling $2.4 billion this year, JBS said.
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 percent per year and no significant maturities expected until 2031,” Cavalcanti said, adding that this disciplined capital allocation strategy provides security and liquidity to navigate operational cycle volatility while JBS continues investing in expansion.
· Pilgrim’s Pride
With an EBITDA margin of 9.9 percent in 1Q26, Pilgrim’s Pride was also impacted by extreme winter weather events. Even so, the company reported net revenue of $4.529 billion during the period, JBS noted.
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, JBS added.
In Europe, Pilgrim’s Pride maintained stable results compared to last year, supported by its balanced portfolio across proteins and consumption occasions, JBS said, adding that in Mexico, the operation expanded its branded portfolio in fresh and prepared foods.
