JBS NV said its main business of US beef is yet to benefit from a restructuring plan, but sees the effort and a renewed flow of Mexican cattle eventually aiding meatpacking margins. Wesley Batista Filho, named to take over as CEO next year, told analysts that JBS hasn’t yet captured gains from combining US businesses and seeking synergies. This could aid results ahead as lingering impacts of a massive cattle shortage continue to hit.

At the same time, Batista Filho said a resumption of trade with Mexico would bring relief. The US announced last month it will allow Mexican cattle imports to resume after a more than yearlong ban, as the Trump administration seeks to tamp down record beef prices. A "normal" cattle flow could be seen as soon as the second quarter of 2027.

JBS shares tumbled on Tuesday, adding to a steep decline. US meatpackers face headwinds from a cattle shortage pushing costs higher. JBS announced a plant in Souderton, Pennsylvania will be transformed to make value-added products. In the US, JBS targets operating profit margins 2.5 percentage points higher than peers by 2027.

Batista Filho, 34, current head of US operations, takes over from Gilberto Tomazoni as CEO in January. His appointment puts a member of Brazil’s Batista family back at top leadership for the first time in about eight years. He said there would be no change in strategy once he takes over.