Key facts
- Natura reported a 92.1% year-on-year drop in Q2 net profit.
- Natura's Q2 net profit was 35 million reais.
- Natura's Q2 net revenue fell 9.1%.
- Wesley Batista Filho will become JBS global CEO in January 2027.
- JBS reported an unexpected net loss of $102 million for Q2.
- Brazilian police accused two Goldman Sachs representatives of fraud.
- The fraud accusations against Goldman Sachs relate to Oncoclinicas.
- Seaboard Corp.'s Pork segment had $129 million in operating income in Q2.
- Seaboard Corp.'s Pork segment operating income increased from $9 million year-on-year.
- Seaboard Corp.'s total net sales were $2.43 billion in Q2.
Brazilian companies reported varied financial outcomes for the second quarter, with some facing significant downturns while others saw notable gains. Natura, a prominent cosmetics company, experienced a sharp 92.1% year-on-year decline in its second-quarter net profit, which fell to 35 million reais. This downturn is attributed primarily to increased financial expenses and operational difficulties within Brazil. The company also recorded a 9.1% decrease in net revenue during the same period.
In the agribusiness sector, JBS, recognized as the world's largest meatpacker, has appointed Wesley Batista Filho as its new global Chief Executive Officer. This transition is slated to take effect in January 2027, with Filho, who currently leads JBS USA, succeeding Gilberto Tomazoni. Concurrently, JBS reported an unexpected net loss of $102 million for the second quarter, adding a layer of financial concern to the leadership change.
Conversely, Seaboard Corp. reported positive results from its Pork segment, which generated $129 million in operating income. This represents a substantial increase compared to the $9 million earned in the same quarter of the previous year. Seaboard Corp.'s total net sales for the second fiscal quarter reached $2.43 billion.
In a separate development, Sao Paulo civil police have formally accused two representatives of Goldman Sachs of fraud. These accusations stem from a dispute concerning a public share tender offer made to minority shareholders of the cancer treatment group Oncoclinicas. Goldman Sachs has denied these allegations.