In the first quarter of 2025, JBS reported a net profit of R$2.9 billion, marking a 77.6% increase year-over-year and exceeding BTG Pactual's projections by 37%. The growth was primarily driven by its poultry operations in North America and Brazil, which accounted for approximately 71% of its earnings, offsetting losses in its US beef segment. Positivo reversed its previous profit and recorded a loss of R$13.5 million, while Casas Bahia saw its losses increase by 56% to R$408 million. Gol experienced a 63.7% decline in net income, reporting R$1.37 billion. JHSF posted a 159.2% rise in net profit to R$348.1 million, with recurring income comprising 74% of its revenue. Other companies reporting profits include Oi with R$1.67 billion, Equatorial with R$411 million, Qualicorp with an adjusted net income of R$14.5 million, and Bmg with a 21.7% increase to R$115 million in net profit. Despite Casas Bahia's increased losses, the company is focusing on restructuring its capital.