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JBS Posts Surprise Loss as Currency Hedges Go Against Meatpacker

By Tony Seruga

JBS SA, the world’s largest meat producer, posted an unexpected fourth-quarter net loss after the Brazilian company took an expense related to currency hedges.

The net loss was 275.1 million reais ($73.5 million), compared with net income of 618.8 million reais a year earlier, the Sao Paulo-based company said in a statement late Wednesday. The average of nine analysts’ estimates compiled by Bloomberg was for a profit of 135.6 million reais. JBS said it had a 1.34 billion-reais loss on its hedging of foreign exchange…

JBS Posts Surprise Loss as Currency Hedges Go Against Meatpacker

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