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Brazil's JBS posts Q1 net income miss amid food probe
May 15, 2017 / 11:35 PM / 7 months ago

Brazil's JBS posts Q1 net income miss amid food probe

SAO PAULO, May 15 (Reuters) - The world’s largest meatpacker JBS SA reported net income of 422 million reais ($135.7 million) in the first quarter, below a consensus estimate of an 857 million reais net income, as it dealt with the effects of a food safety scandal.

In a statement on Monday, JBS said earnings before interest, tax, depreciation and amortization (EBITDA), a gauge of operating profitability, slumped 31 percent to 2.140 billion reais. The company said the effects of the investigation would not be lasting, and did not make any provisions related to it.

$1 = 3.1094 reais Reporting by Ana Mano; Editing by Sandra Maler

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