Bunge Limited (BG) Posts Q1 EPS of $1.41

Bunge Limited (NYSE: BG) reported Q1 EPS of $1.41, which may not compare to the analyst estimate of $0.73. Revenue for the quarter came in at $8.92 billion versus the consensus estimate of $10.21 billion.

Soren Schroder, Bunge's Chief Executive Officer, stated, "In the first quarter, our Agribusiness team managed markets, margins, and logistics very well in a challenging environment. In Food & Ingredients, we are seeing positive signs in Brazil with gains in both volume and market shares. Overall, results were better than expected, our return on capital continues well above WACC and we feel confident about growing earnings in 2016.

"Customer demand is strong and global soy processing margins are improving. Smaller harvests in South America, due to recent adverse weather, are introducing new market dynamics. These will generate headwinds in the second quarter, but also create the potential for us to leverage our winning global footprint more broadly over the course of the year. Both U.S. crush margins and export flows should improve in the second half, and the possibility of dislocations has increased.

"Contributing to our strategy of expanding the share of earnings from value added products, we announced last week the acquisition of Walter Rau Neusser, a leading European supplier of mid-specialty oils and fats for foodservice and food processing customers. This acquisition strengthens our value added and innovation capabilities in these channels and has important synergies with our existing agribusiness network. In our best-in-class strategy, performance improvement programs delivered approximately $24 million toward our full-year expectation of $125 million."

For earnings history and earnings-related data on Bunge Limited (BG) click here.

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