JBS posted a wider-than-expected first-quarter loss of BRL 1.45 billion (approx. $290.2 million), with CEO Gilberto Tomazoni citing factors such as high input costs, persistent inflation, and supply and demand imbalances, as well as the period being traditionally weaker for the global protein industry, impacting performance in all units.

One of the units Tomazoni sees recovering faster is Brazil's food processing company Seara, citing operating adjustments and lower corn prices as likely improving margins for the processed food division in the short term. In April, the owner of Pilgrim’s and Swift invested $200 million into Seara—the largest it has made in the company since it acquired it in 2013—to build a new breaded chicken plant in Rolândia, Brazil. The 580,000-sq.-ft. facility is Seara´s most automated plant and one of JBS’ most modern.