Bunge Limited (BG) Q2 Revenue Miss

Bunge Limited (NYSE: BG) reported Q2 EPS of $0.10, $0.94 worse than the analyst estimate of $1.04. Revenue for the quarter came in at $12.15 billion versus the consensus estimate of $12.16 billion.

• Q2 GAAP EPS of $(0.20); $0.10 on an adjusted basis
• Agribusiness impacted by ~$125 million of new negative mark-to-market on forward soy crushing contracts; positioned for strong second half of the year
• Food & Ingredients slightly higher than last year, driven by improved results in Milling
• Loders Croklaan integration progressing well
• Global Competitiveness Program exceeding expectations; increasing 2018 savings target to $150 million from $100 million
• Maintaining 2018 full-year EBIT outlook of ~$1.3 billion, which would exceed prior year by ~$700 million on the back of strong industry fundamentals

For earnings history and earnings-related data on Bunge Limited (BG) click here.

You May Also Be Interested In

• MillerKnoll, Inc. (MLKN) Tops Q1 EPS by 18c ; Offers Guidance
• Goldman: 'Our key conclusion is that AI is likely to be credit-positive for banks', 'Rearming Our Overweight Stance on Banks'
• ’Not your father’s Sandisk’: Rosenblatt starts coverage at Buy