Edition:
United Kingdom

Bunge Ltd Qtrly Adjusted. Earnings Per Share $0.08


Thursday, 21 Feb 2019 

Feb 21 (Reuters) - Bunge Ltd ::BUNGE REPORTS FOURTH QUARTER AND FULL-YEAR 2018 RESULTS.Q4 GAAP LOSS PER SHARE $0.51.Q4 EARNINGS PER SHARE ESTIMATE $0.20 -- REFINITIV IBES DATA.STRATEGIC REVIEW AND CEO SEARCH PROGRESSING.GLOBAL COMPETITIVENESS PROGRAM DELIVERED $200 MILLION OF SAVINGS IN 2018, EXPECT $50 MILLION OF ADDITIONAL SAVINGS IN 2019.QTRLY ADJUSTED. EARNINGS PER SHARE $0.08.BEGINNING IN 2019, COMPANY IS CHANGING ITS GUIDANCE APPROACH.QTRLY NET SALES $11,543 MILLION VERSUS $11,605 MILLION REPORTED LAST YEAR.BEGINNING IN 2019, WILL PROVIDE DIRECTIONAL GUIDANCE FOR COMPANY INSTEAD OF INDIVIDUAL SEGMENT EBIT RANGES AS IT HAS PREVIOUSLY.."ALTHOUGH 2018 WAS A SUBSTANTIALLY BETTER YEAR THAN 2017, WE ARE NOT SATISFIED WITH THESE RESULTS".SEES 2019 NET INTEREST EXPENSE IN RANGE OF $290 TO $310 MILLION.SEES 2019 CAPITAL EXPENDITURES OF APPROXIMATELY $550 MILLION.IN AGRIBUSINESS, BASED ON CURRENT SOY CRUSH MARGIN ENVIRONMENT, 2019 FULL-YEAR RESULTS WOULD BE EXPECTED TO BE LOWER THAN 2018.QTRLY LOWER AGRIBUSINESS RESULTS WERE LARGELY DUE TO REDUCTION IN VALUE OF COMPANY'S BRAZILIAN SOYBEAN OWNERSHIP.BUNGE - IN SUGAR & BIOENERGY, BASED ON NORMAL WEATHER, FORWARD PRICE CURVES FOR SUGAR & ETHANOL, 2019 RESULTS WOULD BE EXPECTED TO BE ABOUT BREAK-EVEN.IN FERTILIZER, BASED ON CURRENT MARKET ENVIRONMENT, 2019 RESULTS WOULD BE LOWER THAN LAST YEAR..FOR MILLING PRODUCTS, IN QUARTER, HIGHER MARGINS AND VOLUMES IN BRAZIL WERE MORE THAN OFFSET BY LOWER MARGINS AND VOLUMES IN MEXICO.