JBS Achieves Record Profit in Q4 2024, Proposes $772 Million Dividend Payout

JBS, the world’s largest meat processor, reported a substantial net profit of R$2.412 billion ($423 million) in the fourth quarter of 2024. This marks a dramatic turnaround from the R$83 million earned in the same period of 2023.

The company’s consolidated revenue reached R$116.7 billion ($20.47 billion) during the quarter, a 21% increase compared to the previous year. JBS exceeded analyst expectations with adjusted EBITDA of R$10.789 billion ($1.892 billion).

For the full year 2024, JBS reported a net profit of R$9.616 billion ($1.686 billion). The company successfully turned around its performance after recording a R$1.061 billion ($186 million) loss in 2023. Annual adjusted EBITDA totaled R$39 billion ($6.842 billion) with a 9.4% margin.

CEO Gilberto Tomazoni highlighted the challenging environment in the U.S. beef sector. The American division improved performance despite ongoing cattle supply constraints and high prices. The division posted an EBITDA of R$647.1 million, recovering from a R$488.5 million loss in Q4 2023.

Tomazoni praised the “impressive turnaround” of Seara, JBS’s processed foods division in Brazil. Seara recorded high double-digit margins in the last two quarters of 2024. The unit’s EBITDA surged to R$2.627 billion ($461 million), marking a 292% increase year-over-year.

Pilgrim’s Pride experienced its best year ever, driven by strong demand for chicken and pork. Consumers increasingly sought cheaper protein alternatives as beef prices surged.

JBS ended 2024 with a robust cash position of R$35.6 billion ($6.245 billion). The company maintained access to U.S.$3.4 billion in revolving credit lines without collateral guarantees.

Management proposed a dividend distribution of R$4.4 billion ($772 million) for 2025. This payment would equal R$2 per share, pending approval at the company’s General Assembly. The proposed dividend follows similar distributions in October and January.

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