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Operating segments (Tables)

6 Months Ended

Jun. 30, 2026

Disclosure of operating segments [abstract]

The information by consolidated operational segments is as follows:


Six-month period ended June 30, 2026
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from customers	7,432,115	4,784,375	14,829,280	4,045,338	9,137,540	4,709,421	44,938,069	570,136	—	45,508,205
Intersegment revenue	941,252	155,292	107,215	65,678	15,063	865	1,285,365	97,357	(1,382,722)	—
Net revenue	8,373,367	4,939,667	14,936,495	4,111,016	9,152,603	4,710,286	46,223,434	667,493	(1,382,722)	45,508,205
Adjusted EBITDA (1)	436,934	749,698	(345,039)	390,842	952,580	363,488	2,548,503	14,170	—	2,562,673


Six-month period ended June 30, 2025
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from customers	6,201,914	4,173,623	13,133,168	3,976,113	9,200,612	3,589,653	40,275,083	249,093	—	40,524,176
Intersegment revenue	548,821	142,953	93,517	84,636	13,392	4,666	887,985	74,899	(962,884)	—
Net revenue	6,750,735	4,316,576	13,226,685	4,060,749	9,214,004	3,594,319	41,163,068	323,992	(962,884)	40,524,176
Adjusted EBITDA (1)	359,652	817,485	(333,457)	500,901	1,477,940	450,534	3,273,055	8,296	—	3,281,351


Three-month period ended June 30, 2026
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from customers	4,171,343	2,466,409	7,708,435	2,054,185	4,614,722	2,564,928	23,580,022	319,558	—	23,899,580
Intersegment revenue	413,184	93,965	61,495	25,168	8,494	460	602,766	49,147	(651,913)	—
Net revenue	4,584,527	2,560,374	7,769,930	2,079,353	4,623,216	2,565,388	24,182,788	368,705	(651,913)	23,899,580
Adjusted EBITDA (1)	269,242	380,439	(78,280)	116,726	502,923	230,728	1,421,778	7,564	—	1,429,342


Three-month period ended June 30, 2025
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from customers	3,258,992	2,088,869	6,769,877	2,022,115	4,748,516	1,970,082	20,858,451	139,205	—	20,997,656
Intersegment revenue	321,761	77,239	35,198	36,971	6,066	2,708	479,943	66,421	(546,364)	—
Net revenue	3,580,753	2,166,108	6,805,075	2,059,086	4,754,582	1,972,790	21,338,394	205,626	(546,364)	20,997,656
Adjusted EBITDA (1)	228,574	391,792	(232,984)	253,599	817,739	290,179	1,748,899	4,725	—	1,753,624

(*)Includes intercompany and intersegment transactions.

(1)The Adjusted EBITDA is reconciled with the consolidated operating profit (loss), as follows:

Schedule of Adjusted EBITDA is Reconciled with the Consolidated Profit (Loss) Before Taxes

The Adjusted EBITDA is reconciled with the consolidated operating profit (loss), as follows:


	Six-month period ended June 30,		Three-month period ended June 30,
	2026	2025	2026	2025
Profit (loss) before taxes	86,609	1,430,601	(222,084)	736,497
Share of profit of equity-accounted investees, net of tax	(14,794)	(10,556)	123,621	(7,821)
Net finance expense	1,009,781	567,950	695,572	376,404
Depreciation and amortization	1,256,587	1,100,838	639,099	565,194
Antitrust agreements (1)	157,375	133,638	132,731	54,090
Donations and social programs (2)	535	1,132	—	605
Impairment of assets	—	12,767	—	7,105
Restructuring (3)	20,117	21,538	17,334	4,536
Fiscal payments and installments (4)	9,605	2,378	9,605	2,378
Avian influenza	—	5,612	—	5,612
Closure of plants (5)	24,142	—	24,142	—

Other operating income (expense), net (6)	12,716	15,453	9,322	9,024
Total Adjusted EBITDA for operating segments	2,562,673	3,281,351	1,429,342	1,753,624

(1)Refers to the Agreements entered by JBS USA and its subsidiaries.

(2)Refers to the donations, substantially composed of the Fundo JBS pela Amazônia.

(3)Refers to the project implementation of multiple restructuring initiatives mainly in the indirect subsidiary Pilgrim’s Pride Corporation (PPC), which are registered as Other expenses, as well as other non-significant restructuring projects that are registered as General and administrative expenses.

(4)Refers to the special payment program for installment plans of tax proceedings with exemption from fines and reduction of interest of the indirect subsidiary JBS S.A.

(5)Refers to the costs associated with the permanent closure of the Memphis, Souderton, and Chattanooga plants, owned by the indirect subsidiary JBS USA.

(6)Refers to several adjustments basically in JBS USA’s jurisdiction such as third-party advisory expenses related to acquisitions, insurance recovery, among others.

Schedule of Net Revenue and Total Assets Based on Geography

The net revenue and total assets are present below segregated by geographic area considering facilities location as additional information.


Six-month period ended June 30, 2026
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	22,699,788	3,170,995	12,676,481	4,016,454	4,576,963	630,162	47,770,843	(2,262,638)	45,508,205


Six-month period ended June 30, 2025
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	21,125,919	2,962,295	10,912,648	3,158,731	3,125,191	224,902	41,509,687	(985,511)	40,524,176


Three-month period ended June 30, 2026
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	11,781,407	1,568,270	6,692,802	2,157,651	2,924,521	443,418	25,568,069	(1,668,489)	23,899,580


Three-month period ended June 30, 2025
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	10,846,470	1,546,390	5,793,475	1,722,484	1,663,479	134,644	21,706,943	(709,287)	20,997,656


June 30, 2026
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Total assets	13,605,097	3,307,372	16,288,433	4,170,094	8,761,020	468,570	46,600,586	(762,210)	45,838,376

December 31, 2025
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Total assets	13,940,917	5,468,199	15,934,286	4,350,848	14,340,561	435,728	54,470,539	(9,314,053)	45,156,486

(1)Includes intercompany and intersegment transactions.

(2)Amounts previously disclosed under the 'North and Central America' geographic area are now presented disaggregated into two distinct geographic areas: 'United States of America' and 'Mexico and Canada'. This disaggregation was performed retrospectively for information comparability purposes.

(3) Amounts previously disclosed under the 'South America' geographic area are now presented on a disaggregated basis, with Brazil presented as a separate geographic area, while the remaining countries in the region are now grouped under 'Minor regions'. Prior-period information has been presented on a consistent basis for comparability purposes.