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In a press release dated May 12th JBS S.A. (JBSAY) announced results for the 1st quarter of FY 2021 ending March 31st.
The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS. Conversion used : BRL5.4=US$1)
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Gilberto Tomazoni Global CEO |
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1st Quarter Ending March 31st.
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2021
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2020
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Difference (%)
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Sales:
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$13,935,000
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$10,459,000
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+33.2
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Gross profit:
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$2,057,000
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$1,346,000
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+52.8
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Operating income:
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$958,000
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$411,900
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+132.6
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Pre-tax Income
Net Income
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$645,000
$378,000
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$(1,257,000)1
$(1,099,000)
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+151.3
+134.5
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Diluted earnings per share:
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$0.15
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Neg.
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-
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Gross Margin (%)
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14.8
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12.8
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+15.6
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Operating Margin (%)
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6.8
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3.9
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+74.4
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Profit Margin (%)
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2.7
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-10.5
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+125.7
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Long-term Debt:
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$14,757,983
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$14,707,849
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+0.4
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12 Months Trailing:
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Return on Assets (%)
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9.2
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Return on Equity (%)
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12.3
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Operating Margin (%)
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7.9
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Profit Margin (%)
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1.7
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Total Assets
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$30,867,957
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$30,333,667
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+1.7
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Market Capitalization
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$14,920,000
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Note 1. Finance charge of $1,683million
52-Week Range in Share Price: $6.66 to $13.12 50-day Moving average $11.42
Market Close: 12th May pre-release $11.70. Market close May13th $11.58
Forward P/E 8.2 Beta 0.8
 In commenting on 1st quarter results Gilberto Tomazoni Global CEO commented on advances in sustainability and future goals and the impact of COVID and the Company response. He addressed operations in North America stating “the USA turned in an exceptional performance, with record numbers in comparison with all previous first quarters, driven by strong domestic demand from a gradual resurgence of the foodservice sector and by growth in export demand, led by the Asian market”. He added “Pilgrim’s Pride also had a sound first quarter, following the recovery in demand in the United States. The foodservice business is improving and we have maintained pace in the retail sector. The diversified portfolio and global consolidated operations have enabled us to weather the market challenges that the pandemic has presented.”
The Pilgrims Pride subsidiary (PPC) posted net revenue of $3,314 million generating an EBITDA of $351 million representing a margin of 11.7 percent
During the quarter JBS SA purchased vegetable protein producer Vivera in the Netherlands for $400 million. JBS SA is in negotiations with Conagra Brands to acquire Hebrew National™, Egg Beaters™ and other branded products for $700 million.
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