Ess Seshat – Page 83

JBS sees improvement in poultry, pork during Q2

SÃO PAULO – JBS released its fiscal second quarter results for 2024, reporting improvements in some of its business segments, including Pilgrim’s Pride, JBS USA Pork, and Seara but officials said challenges related to the cattle cycle continued to hinder its beef business.

“The strength of our diversification puts JBS in a unique position in the industry,” said Gilberto Tomazoni, chief executive officer of JBS. “While the market environment in the United States remains challenging, our beef businesses in Brazil and Australia are benefiting from favorable cycles in both countries.”

In the fiscal second quarter, ended June 30, 2024, net revenue for the quarter increased by 6.8% to $19.3 billion compared to the second quarter of 2023.

The company’s gross profit for the quarter was reported at $2.97 billion, up from $1.99 billion during the second quarter of fiscal 2023. The net profit was reported as $329 million on the JBS earnings release.

JBS’ North American Beef segment reported net revenue of $5.99 billion during the quarter, up 3.1% from last year.

“Despite the more pressured margins due to the cattle cycle, JBS remains focused on its operational and commercial execution in order to protect its profitability,” JBS said. “Among the ongoing initiatives are the improvement of pricing, the optimization of the product mix, the increase in yield per carcass, greater capture of plant efficiency, among others. All of these implemented actions are fundamental to facing this most challenging cycle.”

Tomazoni added that JBS’ poultry and pork business has benefited from lower grain prices and a better balance between supply and demand, making for strong results in the United States, Mexico, and Europe.

Net revenues for the company’s US pork business increased by over 21% during the quarter to $2.16 billion compared to $1.77 billion during the same period last year.

“In addition to the improvement in commercial dynamics, profitability in the quarter was positively impacted by lower grain costs, continuous efforts aimed at expanding the value-added portfolio, in addition to the consistency of commercial, operational and logistical execution,” JBS said of the US pork business.

Pilgrim’s Pride Corp., a poultry business owned by JBS, exceeded its market expectations with net revenue of $4.55 billion, up 5.8% from the $4.3 billion in 2023.

“The global portfolio showed significant growth in profitability in the annual comparison,” JBS said of Pilgrim’s Pride. The company remained disciplined in executing its strategy and continued to expand relationships with key customers, further improving the level of service as market fundamentals became increasingly attractive.”

Pilgrim’s Pride also reported its highest quarterly EBITDA in history.

JBS’ Seara business recorded a net revenue of $2.2 billion, up 6.7% from last year. The company also saw a significant increase in the adjusted EBITA margin increase by 13.3% compared to the same period in 2023.

JBS Australia revenue for the quarter was $1.65 billion, an increase of 9.5% year-over-year.

For the quarter, JBS exports totaled $3.9 billion, which is 2.4% higher than the second quarter of 2023.

Source link

Tomini turns to in-house management

Alpina Chartering

Tomini has begun the process of bringing the management of its vessels in-house.

The Dubai-based dry bulk shipowner has scrapped its commercial management agreement with Denmark’s Alpina Chartering and expects the shift of vessels to the new management structure to take place over the coming year.

The deal between the two companies stretched over 40 years, with Tomini managing ownership and technical operations while Alpina handled commercial management.

The transition will see Tomini take over full responsibility for all aspects of commercial management, including chartering, freight operations, and client relationships.

“This decision reflects Tomini Group’s commitment to further enhancing its operational efficiency in line with its long-term strategic goals,” the company said.

The Norwegian OTC market-listed privately owned group lists 24 ships on its website, comprising handysize, ultramax, kamsarmax and capesize bulkers. It has a crew management centre in Mumbai and Karachi and is also involved in the classic cars business.

Source link

ADM, Auburn University form research partnership | 2020-08-26

AUBURN, ALA. – Two faculty members from the Department of Poultry Science at Auburn University are leading a research project in partnership with ADM Animal Nutrition to develop poultry feed enzymes to improve animal health and nutrition.

Auburn assistant professors, Charles Starkey, PhD, and Jessica Starkey, PhD, began the research in July with students in the poultry science program conducting experiments at Auburn’s recently completed Charles C. Miller Jr. Poultry Research and Education Center. The experiments are focused on feed mill enzyme processing stability and live broiler chicken growth and digestibility, according to the university.

As part of its role in the multispecies research and teaching partnership, ADM Cares donated $80,000 to support student researchers at Auburn and stipends for visiting research scholars.

“Working with ADM will not only help accelerate our research, but it will directly benefit our students through diverse, hands-on educational experiences in our lab and through internship and networking opportunities,” Starkey said.

Students on Auburn’s campus will have the opportunity to work with ADM’s research and development facilities around the world as they help develop poultry enzyme products to be used in poultry diets to improve digestion, facilitate more flexible feed formulations and improve sustainability in poultry production.

“We see this as the beginning of a productive collaboration and look forward to working closely with some of the best enzyme scientists in the world at ADM,” he said.

Todd Werpy, chief science officer with ADM, said the partnership is an investment in future generations of poultry producers.

“We’re excited about our partnership with Auburn University’s Department of Poultry Science and proud to support their mission to develop future innovators in the field of animal nutrition,” Werpy said.

“We’re proud to partner with the Starkeys, accomplished researchers who will be working alongside our own research and development team to create cutting-edge solutions in animal nutrition.”

Source link

Rite Aid plans 100% cage-free eggs by end of 2022

NEW YORK, NY. – The US pharmacy chain, Rite Aid, announced its commitment to selling 100% cage-free eggs has accelerated progress toward that goal. The company initially pledged to source cage-free eggs across its 2,289 retail locations by 2025 but shortened that timeline by three years to the end of 2022.

“We commend Rite Aid for expediting its cage-free timeline to reduce the suffering of egg-laying
hens in its supply chains,” said Vicky Bond, president of The Humane League. “We’ve seen a trend
among socially responsible companies like Rite-Aid to stop sourcing eggs from hens kept in cruel
battery cages and to speed up the implementation of their cage-free policies.”

Rite Aid’s accelerated commitment comes on the heels of Walgreens’ and CVS Health’s recent pledge to sell 100% cage-free eggs by year-end 2022.

Rite Aid consulted with The Humane League, a global animal protection nonprofit with a mission to end the abuse of animals raised for food, before making this commitment.

Consumer demand for cage-free eggs continues to grow and over 2,000 companies worldwide have committed to cage free including Nestlé, Aldi, InterContinental Hotels, Sodexo, Kraft Heinz, Compass Group, Shake Shack, Famous Brands, Costa Coffee, Burger King, Dunkin’, Krispy Kreme, Unilever and Barilla.

Source link

Vegan QSR chain partners with Sysco to increase distribution | 2021-04-29

TORONTO, ONTARIO – As part of its plans to expand its presence in the United States, Globally Local, a chain of vegan-based fast-food restaurants, announced an agreement with Houston-based Sysco Corp. to be its distribution partner. A subsidiary of Globally Local Technologies Inc., Globally Local said it will utilize Sysco’s established distribution network and expertise to ship the company’s proprietary food products to current and future restaurants across North America.

Sysco operates 326 ‎distribution centers around the world, delivering food products to more than 625,000 restaurants, institutions and customers in the hospitality industry.

With its first restaurant opening in London, Ontario, in 2016, Globally Local now operates two locations in Ontario with seven more currently in development there. In the next year, the company plans to open at least 20 more eateries in North America, including the United States. Globally Local produces all of its restaurants’ plant-based proteins and dairy alternatives at one processing plant, with a goal of making plant-based food a more accessible and affordable option that the company said is also more healthy than traditional fast-food.

“With small store footprints optimized for delivery and takeout, advanced cooking technology, competitive pricing, a vertically integrated supply chain along with healthier ingredients, Globally Local is revolutionizing the fast-food industry,” the fast-food company said.

Source link

Johnsonville to increase automation, data integration

ALAMEDA, CALIF. — The Sheboygan Falls, Wis.-based sausage company Johnsonville LLC has partnered with Jitterbit to modernize its technology, increase automation and improve efficiency across the company.

The nearly 80-year-old company is committed to investing in automation, accelerating the pace of its digital transformation goals. Through Jitterbit’s Harmony, a cloud-based integration platform as a service (iPaaS) and workflow automation system, Johnsonville will further automate its “retire to hire” processes, its manufacturing process and its planning processes.

“As one of the longest-standing sausage brands in the country, we were ready to evolve our technology infrastructure, leveraging the data integration provided by a complete iPaaS platform to boost efficiency and ROI,” said Paul Townsend, IT director of solution delivery and support at Johnsonville. “After careful consideration, we chose to work with Jitterbit. The Harmony platform’s capabilities, coupled with the smart, professional culture of the Jitterbit team, made for the right recipe to achieve our digital transformation objectives.”

More specifically, the Harmony platform will enable Johnsonville to achieve real-time process execution, connecting data and insights with the manufacturing floor. Harmony will have access to Johnsonville’s recipe management system so that each facility can be optimized for the highest quality and greatest efficiency possible. Additionally, the system eliminates the need for manual on-site management, meaning Johnsonville can cut back on labor costs.

“Digital transformation is a complicated journey for every company, especially those encumbered with legacy technology and disconnected systems,” said George Gallegos, chief executive officer at Jitterbit. “That’s what makes an effective iPaaS solution so valuable — it not only speeds up transformation, it simplifies it as well. We are thrilled to be working with Johnsonville in its new digital strategy initiative, working together to integrate siloed data, eliminate manual processes and optimize operations to drive long-term success.”

Source link

Darden Restaurants buys Ruth’s Chris Steakhouse

ORLANDO, FLA.— Darden Restaurants Inc. has agreed to acquire Ruth’s Hospitality Group Inc.

Under the agreement, Darden will acquire all of the outstanding shares of Ruth’s Hospitality for $21.50 per share. The equity value is approximately $715 million.

Ruth’s, owner and operator of Ruth’s Chris Steak House or Ruth’s Chris, was founded in New Orleans in 1964 by Ruth Fertel. The company has 154 locations consisting of 80 company-owned restaurants and 74 franchised restaurants.

“Ruth’s Chris is a strong and distinctive brand in the fine dining segment with an impressive history of delivering elevated dining experiences to their loyal guests,” said Rick Cardenas, president and chief executive officer of Darden. “It fits the criteria we have for adding a brand to our portfolio and supports our winning strategy. Ruth’s Chris is a great complement to our portfolio of brands, and I’m pleased to welcome their nearly 5,000 team members to Darden.”

The transaction is expected to be completed in June, subject to customary closing conditions.

Source link

New wings concept lifts Brinker’s outlook | 2020-08-14

DALLAS — A conscious decision to stay true to the strategy it has been working on for more than two years — delivering on digital, off-premises, value and scale — helped Brinker International Inc. weather the impact of the coronavirus (COVID-19) pandemic during fiscal 2020. A new chicken wings concept also looks promising.

“We didn’t have to scramble when the pandemic hit,” Wyman T. Roberts, president and chief executive officer, said during an Aug. 12 conference call with analysts. “We walked into it with seven solid quarters of performance. All we had to do is stay focused and push the accelerator a little harder. As a result, we set the bar in casual dining, landing the top spot in sales and traffic for three straight months according to KNAPP-TRACK, and we’re poised for continued future success.”

Even so, the pandemic hit Brinker hard.

Net income in the year ended June 24 was $24.4 million, equal to 64¢ per share on the common stock, down 84% from $154.9 million, or $4.04 per share, in fiscal 2019. Net sales fell 4.4% to $3.079 billion from $3.218 billion.

Despite the hit to financials, Brinker said it has seen positive signs in results generated by its Chili’s restaurant chain recently, and a new concept has the company excited about the year ahead.

Using its existing strengths in the digital space and off-premises, Brinker during the last week of fiscal 2020 accomplished something that Roberts claims “no other restaurant company has ever done” — launch a virtual brand in all its outlets across the United States in a single day.

Developed over the course of six months and launched overnight with minimal investment in a consumer channel where demand is growing by more than 100% annually, It’s Just Wings leverages existing Chili’s and Maggiano’s kitchens and cooks to sell chicken wings (smoked, fried and boneless) featuring a variety of sauces. It’s Just Wings operates exclusively through a partnership with DoorDash.

“Sales continue to build every week, and we clearly see the potential to exceed $150 million in the brand’s first year, which would secure It’s Just Wings a spot in the top 200 restaurant brands,” Roberts said. “Over the years, casual dining has been deemed for being overbuilt. We believe this is our opportunity to prove that maybe it isn’t overbuilt, it’s just underutilized. It’s Just Wings leverages existing buildings, equipment and labor. Even after aggressive pricing and marketing, buying quality ingredients and packaging and paying our last-mile logistics partner, we’re generating strong flow through.”

Roberts said It’s Just Wings guests are highly incremental to Brinker’s concepts, and feedback has been “extremely positive.”

“Taking into account our scale, the capacity of our kitchens, our exclusive partnership with DoorDash, we believe our ability to win in this space is unmatched,” he said. “So, we’re testing additional virtual concepts and learning how to drive visibility among the millions of DoorDash guests looking for food delivery options. And how to continually improve our operations to meet consumer demand for speed, food quality and value. We are pleased to have not one but two brands that rank among the most popular on the DoorDash platform, and we’re excited about the potential that lies ahead.”

Source link

Walmart prepares for latest Open Call event

BENTONVILLE, ARK. — Walmart is accepting applications from small business owners and entrepreneurs to apply to its 11th annual Open Call event. Entrepreneurs will pitch their products for a chance to be sold on Walmart or Sam’s Club shelves or on Walmart.com or SamsClub.com.

Entrepreneurs chosen to be sold at Walmart in stores or online receive a golden ticket and have access to the company’s customer base.

Program participants will participate in mentoring sessions with Walmart leaders and have the opportunity to listen to guests. They also will have one-on-one pitch meetings with Walmart or Sam’s Club merchants.

Last year’s Open Call featured opportunities for supplier development. The program drew more than 700 businesses and more than 180 pitches resulted in 130 golden tickets, according to Walmart.

Applications are open until July 15. The event will be held on Sept. 24-25.

Source link

Multivac starts up flowpacker product

KANSAS CITY, MO. – Multivac Inc. recently announced its universal flowpacking solution which will feature a W500 and W510 model.

The machine uses precise servo drive technology for maximum output and optimum process control.

The company said products with a maximum width of 200 mm and a height of 120 mm can be packed with or without a tray.

Other available features include the independent speed setting of the rollers for crease-free longitudinal sealing along with cross sealing to keep temperature and pressure at needed levels.

The machine also has an integrated gas analysis system for MAP packing with modified atmosphere.

“When it comes to labeling or marking the packs on a flowpacker, Multivac offers a wide choice of solutions,” the company said. “These range from inline labelers to direct web printers and even combined systems. All these solutions are characterized by their extremely compact construction and optimum hygiene features. They are perfectly matched to the Multivac flowpacker in terms of their control technology and mechanical functions.”

Source link