According to the company's financial report, sales increased by 6.8% year-on-year, reaching a turnover of US$ 19.284 billion.

Brazilian meat company JBS has posted a net profit of US$328.8 million in the second quarter of the year, compared to losses of US$53.2 million in the same quarter of the previous year.

According to the company's financial report, sales increased by 6.8% year-on-year to US$ 19.284 billion. Costs rose by 1.6% to US$ 2.973 billion.

By market, with the exception of JBS Beef North America, which is facing a challenging cattle cycle, all business units showed improvement compared to the same period last year, with Seara, Pilgrim's and the US pork unit standing out.

While the market environment in the United States remains challenging, the beef businesses in Brazil and Australia are benefiting from favorable cycles in both countries, the company said.

Adjusted gross operating profit (EBITDA) doubled (up 109.8%) compared to the second quarter of the previous year, reaching US$ 1,894 million.

The company's net debt has fallen by 11.4% compared to the second quarter of last year, and by 7% compared to the first quarter of this year, reaching US$ 14,759 million.

JBS CEO Gilberto Tomazoni said the company had a "solid" second quarter, allowing it to defend its diversification strategy and make its promising outlook for 2024 a "reality."

"The second quarter numbers reinforce the strength of our financial management. Our results reaffirm our confidence in JBS's long-term strategy. The strength of our diversification puts JBS in a unique position in the industry," he said.