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Bunge quarterly profit, revenue disappoint on hedging losses
February 12, 2015 / 12:36 PM / 3 years ago

Bunge quarterly profit, revenue disappoint on hedging losses

CHICAGO, Feb 12 (Reuters) - Bunge Ltd, one of the world’s largest agricultural trading houses, reported fourth-quarter profit Thursday that was well below analysts’ expectations due to $80 million of hedging losses.

Bunge earned a net profit of $82 million, or 56 cents a share, compared with $115 million, or 78 cents, a year earlier.

Excluding special items, earnings per share were $1.20, down from $1.35 a year earlier. Analysts had expected $2.51, according to Thomson Reuters I/B/E/S.

Revenue dropped to $13.898 billion from $16.375 billion. Analysts had expected $16.72 billion.

A year earlier, the company, which trades, transports and processes grain around the world, said it expected to have a strong fourth quarter due to record U.S. harvests. (Reporting by Tom Polansek; Editing by Bernadette Baum)

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