JBS released its Q2 2023 financial results this week, revealing a net loss of $53 million in Q2 2023, down sharply from a net profit of $803 million in Q2 2022. The decline was the result of an oversupply of poultry and tighter beef margins in the U.S., as well as an overall challenging global protein complex, JBS CEO Gilbert Tomazoni said.
Despite the challenging quarter, Tomazoni said the company remains confident that margins are recovering. “In this second quarter, we’ve doubled our margin over the first quarter. Looking ahead, we see a scenario of more balance in poultry supply with…
