Bunge Slips To Loss In Q3; Sees Lower FY Earnings - Quick Facts

(RTTNews) - Bunge Limited (BG) reported that its third-quarter net loss available to common shareholders was $1.50 billion or $10.57 per share, compared to net income of $357 million or $2.44 per share in the prior year. The latest-quarter results included about $1.7 billion of charges related to portfolio initiatives, primarily the formation of the joint venture for the Brazilian Sugar & Bioenergy business.

On a adjusted basis, net income per share was $1.41 compared to $2.52 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined to $10.32 billion from $11.41 billion in the prior year. Analysts expected revenues of $11.31 billion for the quarter.

For 2019, the company now expects a decline in earnings compared to 2018. The outlook excluded notable items, the favorable impact of Bunge Ventures' investment in Beyond Meat and higher results in Sugar & Bioenergy.