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Bunge Q4 Profit Tops View, But Sales Miss; Sees FY Profit In Line With Last Year

Bunge Limited (BG) reported that its fourth-quarter net loss available to common shareholders narrowed to $68 million or $0.48 per share from $74 million or $0.52 per share in the prior year.

Adjusted net income per share from continuing operation was $1.27 compared to $0.08 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined to $10.78 billion from $11.54 billion in the prior year. Wall Street analysts had a consensus revenue estimate of $11.51 billion for the fourth-quarter.

The company expects full-year 2020 earnings per share to be broadly in line with 2019, when excluding notable items, gain on Beyond Meat and the depreciation benefit in the Sugar & Bioenergy segment.

In Agribusiness, full-year results are expected to be down from 2019.

In Food & Ingredients, full-year results in Edible Oils and Milling are expected to be similar to the prior year, excluding about $13 million of favorable the fourth-quarter timing differences, which are expected to negatively impact 2020.

In Fertilizer, full-year results are expected to be down from a particularly strong prior year and more similar to 2018.

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