August 15, 2018 / 12:13 AM / a month ago

Brazil's JBS posted wider than expected loss on forex charge

SAO PAULO, Aug 14(Reuters) - The world’s largest meatpacker JBS SA posted a wider-than-expected net loss in the second quarter as the company booked a steep rise in financial charges related to the exchange rate, according to a securities filing on Tuesday.

JBS reported an 826.9 million reais ($213.88 million) net loss in the period, higher than the 144 million real loss in a Thomson Reuters consensus estimate.

Adjusted earnings before interest, tax, depreciation and amortization, a gauge of operating profit known as EBITDA, was 4.237 billion reais, almost 13 percent above the same year ago period and higher than analysts’ consensus of 3.492 billion reais, the filing showed. ($1 = 3.8662 reais) (Reporting by Ana Mano; Editing by Sandra Maler)

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