Edition:
United Kingdom

Bunge Reports Third Quarter 2018 Results


Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - Bunge Ltd ::BUNGE REPORTS THIRD QUARTER 2018 RESULTS.Q3 GAAP EARNINGS PER SHARE $2.39.Q3 EARNINGS PER SHARE VIEW $2.39 -- THOMSON REUTERS I/B/E/S.EXPECT 2018 FULL-YEAR EBIT OUTLOOK OF ABOUT $1.2 BILLION.QTRLY ADJUSTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS $2.52.EXPECT TO DELIVER A GOOD Q4 LED BY OUR NORTHERN HEMISPHERE OILSEED PROCESSING OPERATIONS.INCREASING 2018 SAVINGS TARGET TO $175 MILLION FROM $150 MILLION.BUSINESS CONDITIONS ARE EXPECTED TO REMAIN FAVORABLE FOR BALANCE OF 2018 AND INTO 2019.GLOBAL COMPETITIVENESS PROGRAM EXPECTED TO DELIVER FULL SAVINGS A YEAR AHEAD OF SCHEDULE.QTRLY NET SALES $11,412 MILLION VERSUS $11,423 MILLION.GLOBAL COMPETITIVENESS PROGRAM IS NOW EXPECTED TO GENERATE $175 MILLION IN SG&A SAVINGS THIS YEAR.QTRLY NET SALES $11,412 MILLION VERSUS $11,423 MILLION REPORTED LAST YEAR.Q3 REVENUE VIEW $12.05 BILLION -- THOMSON REUTERS I/B/E/S.BUNGE-FAVORABLE CONDITIONS FOR BALANCE OF 2018 & INTO 2019 ARE DRIVEN BY STRONG OILSEEDS PROCESSING MARGINS & IMPROVING CONDITIONS IN EDIBLE OILS.ACHIEVED $65 MILLION OF INDUSTRIAL COST SAVINGS TOWARD FULL YEAR TARGET OF $80 MILLION.LOOKING AHEAD, EXPECT TO DELIVER A "GOOD" Q4 LED BY NORTHERN HEMISPHERE OILSEED PROCESSING OPERATIONS.IN GRAINS, HIGHER RESULTS IN QUARTER WERE PRIMARILY DRIVEN BY BRAZIL ORIGINATION.IN QUARTER, MILLING PRODUCTS IMPROVED PERFORMANCE WAS DRIVEN BY HIGHER RESULTS IN BRAZIL AS MARGINS EXPANDED WITH SMALLER DOMESTIC WHEAT CROP.