Bunge Reports Third Quarter 2019 Results

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Algemeen advies 07/11/2019 07:20
White Plains, NY - October 30, 2019 - Bunge Limited (NYSE:BG)
• Q3 GAAP EPS of $(10.57) vs. $2.39 in the prior year; $1.41 vs. $2.52 on an adjusted
• Results included ~$1.7 billion of charges related to portfolio initiatives, primarily
the formation of the joint venture for the Brazilian Sugar & Bioenergy business
• Agribusiness managed challenging markets well and benefited from approximately
$25 million of net mark-to-market gains, which included $95 million of new gains
on forward soy crush margin contraction
• Food & Ingredients performed well, driven by strength in Edible Oils
• Progress continues on streamlining global business structure

Greg Heckman, Bunge's Chief Executive Officer, commented, “We navigated uncertain and deteriorating market conditions well. While we expect headwinds to continue, we are making progress on our key priorities. We have improved our operational execution, as well as our discipline around risk management. Our decision to combine our global and North American headquarters in St. Louis is an important step in the work underway to streamline our global business structure. We will continue to focus on the business drivers within our control as we execute our mission of delivering results and driving increased returns to shareholders.”

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