JBS will seek an initial public offering in the U.S. soon, but probably not this year, its executives said at the company’s quarterly results conference.
The Brazil-based company, the second-highest meat processor by sales in the U.S., has a stock issue on Wall Street as a priority, now that the pandemic seems to be waning, CEO Gilberto Tomazoni told stock analysts.
“Now things are more under control. We have learned to deal with the challenges. We are again discussing the listing,” Tomazoni said in remarks at the meeting quoted by Reuters. Plans by JBS over the years to stage an IPO have stalled.
JBS posted strong results for the last quarter, with net profits, at $629 million, coming in nearly twice as high as analyst estimates. This came despite being as hard hit as other meatpackers by the pandemic, with workers dying and plants closing.
