In 2024, JBS reported nearly $2 billion in profit, reversing losses from the prior year|Mizzou CAFNR|CC BY-NC 2.0
JBS, the world’s largest meat company, began trading on the New York Stock Exchange (NYSE) Friday, skipping the traditional bell-ringing fanfare.
The Sao Paulo-based firm aims to rebrand as an American meat powerhouse, with over 50% of its $80 billion in annual sales now coming from North America.
In 2024, JBS reported nearly $2 billion in profit, reversing losses from the prior year. The company employs 280,000 people globally and owns major US meat brands, including Pilgrim’s Pride.
Though its growth is robust, JBS carries baggage: its controlling family, the Batistas, were jailed for bribery, and environmental groups accuse it of contributing to Amazon deforestation.
Major banks, such as JPMorgan and Goldman Sachs, avoid doing business with JBS.
Despite criticism, the SEC approved its listing, and shareholders voted in May to restructure in the Netherlands and proceed.
Shares opened at $13.65 and closed up nearly 2% despite broader US markets experiencing a dip.
JBS hopes the move will attract a broader pool of investors and lower its cost of capital, signaling a new era despite lingering concerns.