JBS, the world's largest meatpacker, expects to end the year with a debt leverage ratio below 2.5x even though the company may spend up to $400 million in a share repurchase program, Reuters reported, citing remarks from management on Thursday.
JBS posted a nearly 61% rise in net profit for the second quarter, which reached $528.1 million. Management said the results reflect the resilience of the company's global platform in the face of a challenging cattle cycle in the US and global geopolitical tensions.