Jamaica Broilers Group Limited swung to a $2.2-billion net loss in its third quarter ended January 2026, dragged down by an underperforming US division and hurricane-related disruptions.
“During the quarter under review, our Jamaica operations and customers were affected by Hurricane Melissa, which created temporary disruptions,” Chairman Robert Levy and Group President and Chief Executive Christopher Levy said in a joint statement. “The segment result for the US operations continues to be challenged.”
The loss – equivalent to $2.21 per stock unit – compared with a restated loss of $4.6 billion in the same quarter a year earlier, a period whose figures were revised downward following the discovery of accounting irregularities at the group’s American subsidiaries. For the nine months to January 31, the group recorded a cumulative net loss of $1.0 billion, narrowing sharply from a restated $3.5-billion loss in the corresponding period of the prior year.
Group revenues for the nine months reached $73.6 billion, up 2.0 per cent. The company described the rise as part of “the turnaround” from the disruption that led the group to briefly report negative equity. It arose from the US mismanagement that coincided with the 2025 resignation of Stephen Levy, who headed the operations.
Gross profit climbed 22 per cent to $13.5 billion – a signal that margin recovery is gaining traction even as the bottom line remains in the red.
The Jamaican operations continued to anchor the group, delivering a segment profit of $4.3 billion on revenues of $44 billion for the nine-month period. “Despite this challenge, the recovery of our Jamaica operations has progressed ahead of schedule, underscoring the resilience of our team and operational strength,” management added.
The US operations told a different story. The segment posted a $1.4-billion loss for the nine months, with directors pointing to weak market-selling prices and elevated production costs as root causes. “Deliberate steps are being taken to address the issues in the particular US segment that is not performing well,” the board said, adding that a return to positive contribution was expected “in the near future”.
Meanwhile, JBG is moving to replace its long-time auditors. PricewaterhouseCoopers (PwC) has served as external auditors for the company for at least two decades. Records show that PwC held the role as far back as 2003 and continued through the 2025 financial year.
Last week, Jamaica Broilers informed shareholders it would vote on replacing PwC with Ernst & Young. The vote will take place virtually on April 7 at 2 p.m.
business@gleanejrm.com
