Brazilian meatpacker JBS swings to net profit in Q2

SAO PAULO (Reuters) – Brazil’s JBS SA (OTC:), the world’s largest meatpacker, reported on Tuesday a net profit of 1.72 billion reais ($315.2 million) for the second quarter, according to its earnings statement.

JBS said adjusted earnings before interest, tax, depreciation and amortization (EBITDA), a measure of operating income, were 9.88 billion reais for the quarter from April to June.

The company missed forecasts by LSEG analysts, who had predicted a net profit of 2.02 billion reais, but returned to a profit after a net loss the same quarter a year earlier.

($1 = 5.4568 reais)