The meat industry takes off in the Americas. Tyson Foods, Cargill and JBS, three of the main industry operators, are all showing signs of strong revenue growth. This outcome is the result of a series of aspects, among which is the retraction of some pandemic-related limitations imposed at an international level.
Tyson’s third quarter
US-based Tyson Foods closed the 3rd quarter with 1.37 billion USD in adjusted operating income (+81% compared to the previous year). The company’s sales increased in both volume and price, and in addition to that was also the recovery of 55 million USD from a legal action against one of Tyson’s suppliers, which had in the past caused damages to the company’ s income statement. According to USDA forecasts, the national bovine meat production will grow about 3% during 2021, compared to the previous year.
A new record for Cargill
As reported by Bloomberg, Cargill reached a new record in its 156 years of history. The company, which has yet to publish its results after those of 2020, has allegedly increased its profits by 64%, compare to the previous year. Sales should have reached 134.4 billion USD, against the previous year’s 114.6 billion.
JBS’s best quarter
JBS is also riding the trend. The Brazilian enterprise, as reported by istoe.com.br, has recorded net profits for 4.4 billion real (about 840 million USD) during the 2nd quarter of 2021. This marks the best quarter in history for JBS, along with a 30% improvement over the previous period and an EBITDA of 11.7 billion real (or 2.23 billion USD). Bovine exports from the USA and Canada contributed to the achievements mainly thanks to the push from China. The Asian country accounts for 1/3 of all foreign sales.