EarningsQ2 2026 Earnings Report
MX:JBSN Q2 2026 EPS Results
Actual EPS$3.64
Consensus EPS$5.60
Beat/MissMissed by -$1.96
One Year Ago EPS$9.42
MX:JBSN Q2 2026 Revenue Results
Actual Revenue$434.01B
Expected Revenue$418.91B
Beat/MissBeat by +$15.10B
YoY Revenue Growth+13.74%
Earnings Announcement Details
QuarterQ2 2026
Date08/11/2026
TimeBefore Open
Conference CallTuesday, August 11, 2026
MX:JBSN Upcoming Earnings
JBS's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:JBSN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed a mixed but resilient picture: several meaningful operational and strategic positives (record revenue, positive adjusted EBITDA, restored free cash flow, a major JV to accelerate Asia expansion, improved pork margins and progress in U.S. beef operations) were offset by material financial headwinds (a GAAP net loss driven by nonrecurring charges, a YoY EBITDA decline, higher financial expenses and interest costs, elevated capex, and leverage slightly above target). Management emphasized execution, cash generation and disciplined capital allocation while outlining pathways (Mexican border reopening, operational initiatives, JV funding) to improve performance.Company Guidance
Record Quarterly Revenue
Net sales reached a record $24.0 billion in Q2 2026, reflecting strong top-line performance across the global platform.
Solid Adjusted EBITDA and Operating Margins
Adjusted EBITDA totaled $1.43 billion under IFRS (6.0% margin) and $1.30 billion under U.S. GAAP (5.3% margin). Adjusted operating income was $790 million (3.3% IFRS margin) and $866 million (3.6% U.S. GAAP margin).
Free Cash Flow Turned Positive
Free cash flow improved year-over-year and reached a positive $130 million in Q2 (company said an improvement of $125 million YoY), versus a cash consumption of $55 million in Q2 2025 — driven mainly by working capital improvements (accounts receivable discounts and advance payments from Chinese customers).
Strategic JV Strengthens Funding Capacity for Asia Expansion
Announced a strategic partnership (25% stake sale in Australia & New Zealand operations) that includes a $2.5 billion equity investment and provides access to up to $5 billion to fund acquisitions and growth projects in Indonesia and Southeast Asia while preserving JBS' operating control of ANZ operations.
Strong Divisional Results — Pork, JBS Brazil and Seara
Pork delivered an EBITDA margin of 8.9% (up from 6.5% a year ago). JBS Brazil posted adjusted EBITDA of $269 million with a 5.9% margin and the company indicated it was the highest Q2 EBITDA for that business. Seara maintained healthy margins (~14–15%), supported by robust export demand.
U.S. Beef Operational Progress and Border Reopening Tailwind
U.S. beef EBITDA margin improved from -3.9% (Q2 last year) to -1.3% in Q2 2026 after operational optimization and plant performance gains. Management highlighted the reopening of Mexican ports (initially Douglas AZ, with two others planned) that could meaningfully restore cattle flows and help normalize slaughter volumes by Q2 2027.
Strong Liquidity and Extended Debt Maturity Profile
Combined cash liquidity and revolving credit totaled approximately $7.7 billion. Average debt term extended to 15.3 years with an average cost of 5.7%, and management highlighted no significant near-term maturities and that ~35% of gross debt is beyond 2050.
U.S. Reporting Alignment and Index Inclusion
Began voluntarily reporting results as a U.S. domestic company and achieved inclusion in the Russell 1000 and Russell 3000 indexes (June), which supports U.S. investor visibility and liquidity.
MX:JBSN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed