(Adds EBITDA, other details of results)
By Roberto Samora
SAO PAULO, Nov 12 (Reuters) - Brazil's JBS SA, the world's largest beef exporter, registered a third-quarter net profit of 1.1 billion reais ($428 million), a five-fold increase from 220 million reais a year earlier, the company said in a filing on Wednesday.
Lower feed costs and near record-high beef prices helped improve margins in the United States and at the processed foods and poultry unit, JBS Foods in Brazil. International soy and corn prices are falling amid ample harvests, while beef prices have risen due to a smaller cattle herd in the United States.
Earnings before interest, taxes, depreciation and amortization - a measure of cash flow known as EBITDA - more than doubled to 3.6 billion reais from a year earlier, according to the filing.
Net revenue was 30.8 billion reais, up 27.1 percent from a year earlier. That outpaced the costs of goods sold, which rose 19.6 percent to 25.2 billion reais from a year ago.
In the second-quarter of 2014, JBS posted a profit of 254 million reais after currency hedging costs and a one-off premium paid on early bond liquidation inflated financial losses.
Net debt to EBITDA fell to 2.54 by the end of September from 4.03 a year earlier, when JBS acquired the Seara poultry and pork unit from rival Marfrig Alimentos SA.
JBS has been following an aggressive takeover strategy. In July its U.S. poultry unit, Pilgrim's Pride, acquired Tyson Foods Inc's poultry divisions in Mexico and Brazil. (U.S. $1 = 2.567 reais) (Additional reporting and writing by Caroline Stauffer; Editing by Chris Reese and Alan Crosby)