Operating segments (Tables)

9 Months Ended

Sep. 30, 2026

Disclosure of operating segments [abstract]

The information by consolidated operational segments is as follows:


Nine-month period ended September 30, 2026
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from external customers	10,887,886	7,218,284	22,319,922	5,909,159	13,778,786	7,203,038	67,317,075	928,952	—	68,246,027
Intersegment revenue	1,578,538	232,790	174,549	82,543	23,700	962	2,093,082	152,345	(2,245,427)	—
Net revenue	12,466,424	7,451,074	22,494,471	5,991,702	13,802,486	7,204,000	69,410,157	1,081,297	(2,245,427)	68,246,027
Adjusted EBITDA (1)	578,117	1,080,328	(346,940)	427,848	1,414,981	561,154	3,715,488	28,403	—	3,743,891


Nine-month period ended September 30, 2025
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from external customers	10,033,132	6,462,838	20,335,618	6,155,707	13,951,766	5,779,231	62,718,292	402,859	—	63,121,151
Intersegment revenue	877,127	214,757	139,210	124,983	18,288	7,461	1,381,826	121,474	(1,503,300)	—
Net revenue	10,910,259	6,677,595	20,474,828	6,280,690	13,970,054	5,786,692	64,100,118	524,333	(1,503,300)	63,121,151
Adjusted EBITDA (1)	666,881	1,140,147	(375,108)	719,109	2,247,679	699,410	5,098,118	17,824	—	5,115,942


Three-month period ended September 30, 2026
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from external customers	3,455,771	2,433,909	7,490,642	1,863,821	4,641,246	2,493,617	22,379,006	358,816	—	22,737,822
Intersegment revenue	637,286	77,498	67,334	16,865	8,637	97	807,717	54,988	(862,705)	—
Net revenue	4,093,057	2,511,407	7,557,976	1,880,686	4,649,883	2,493,714	23,186,723	413,804	(862,705)	22,737,822
Adjusted EBITDA (1)	141,184	330,629	(1,901)	37,006	462,401	197,666	1,166,985	14,232	—	1,181,217


Three-month period ended September 30, 2025
	Brazil	Seara	Beef North America	Pork USA	Pilgrim’s Pride	Australia	Total reportable segments	All others segments	Elimination (*)	Total
Revenue from external customers	3,831,218	2,289,215	7,202,450	2,179,594	4,751,154	2,189,578	22,443,209	153,775	—	22,596,984
Intersegment revenue	328,306	71,804	45,693	40,347	4,896	2,795	493,841	46,575	(540,416)	—
Net revenue	4,159,524	2,361,019	7,248,143	2,219,941	4,756,050	2,192,373	22,937,050	200,350	(540,416)	22,596,984
Adjusted EBITDA (1)	307,229	322,662	(41,651)	218,208	769,739	248,876	1,825,063	9,529	—	1,834,592

(*)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:


	Nine-month period ended September 30,		Three-month period ended September 30,
	2026	2025	2026	2025
Profit before taxes	282,748	2,245,943	196,139	815,341
Share of profit of equity-accounted investees, net of tax	(3,344)	(15,008)	11,450	(4,452)
Net finance expense	1,318,551	976,098	308,770	408,149
Depreciation and amortization	1,916,968	1,684,857	660,380	584,019
Antitrust agreements (1)	157,825	143,720	450	10,082
Donations and social programs (2)	627	1,747	92	615
Impairment of assets	—	12,767	—	—
Restructuring (3)	20,117	23,771	—	2,233
Fiscal payments and installments (4)	11,838	2,378	2,232	—
Avian influenza	—	13,122	—	7,510
Closure of plants (5)	24,142	—	—	—

Other operating income (expense), net (6)	14,419	26,547	1,704	11,095
Total Adjusted EBITDA for operating segments	3,743,891	5,115,942	1,181,217	1,834,592

(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 and Instituto J&F.

(3)Refers to the project implementation of multiple restructuring initiatives (including related impairment) 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.


Nine-month period ended September 30, 2026
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	34,008,834	5,063,318	19,782,279	6,156,126	6,573,799	985,847	72,570,203	(4,324,176)	68,246,027


Nine-month period ended September 30, 2025
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	34,032,512	3,056,069	17,847,716	5,059,539	4,755,661	361,493	65,112,990	(1,991,839)	63,121,151


Three-month period ended September 30, 2026
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	11,309,046	1,892,323	7,105,798	2,139,672	1,996,836	355,684	24,799,359	(2,061,537)	22,737,822


Three-month period ended September 30, 2025
	United States of America (2)	Mexico and Canada	Brazil (3)	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Net revenue	11,332,724	1,667,643	6,614,231	1,900,808	1,630,470	174,899	23,320,775	(723,791)	22,596,984


September 30, 2026
	United States of America (2)	Mexico and Canada	Brazil	Australia	Europe	Minor regions	Total	Intercompany elimination (1)	Total
Total assets	10,953,803	3,393,119	20,527,842	4,320,764	11,250,841	1,013,791	51,460,160	(4,382,080)	47,078,080

December 31, 2025
	United States of America (2)	Mexico and Canada	Brazil	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.