May 3, 2017 / 10:29 AM / 6 months ago

BRIEF-Bunge Q1 adjusted EPS from cont ops $0.35

May 3 (Reuters) - Bunge Ltd:

* Bunge reports first quarter 2017 results

* Q1 GAAP earnings per share $0.31

* Q1 earnings per share view $0.70 -- Thomson Reuters I/B/E/S

* Q1 net sales $11,121 million versus $8,916 million

* Expect solid earnings growth in 2017

* Agribusiness impacted by delayed farmer selling in quarter

* Qtrly adjusted earnings per share from continuing operations $0.35

* In agribusiness, expect improvement in 2017 from last year’s results

* Slow pace of farmer selling in South America “compressed margins” in agribusiness and led to a lower than expected Q1

* Q1 revenue view $8.90 billion -- Thomson Reuters I/B/E/S

* “In oilseeds, product demand is strong and in line with our long term projections”

* In food & ingredients, expect edible oils to continue to show strong year-over-year improvement in 2017 on higher volumes and margins

* Sees year-over-year earnings growth in 2017, although below company’s prior expectations

* In fertilizer, expect 2017 EBIT of approximately $25 million

* Delivered $22 million of cost savings in q1 and are on track to achieve $100 million of benefits in 2017

* Have reduced expected capex spend by $50 million to a range of $700 million to $750 million in 2017

* Higher oilseed processing results in China, due to improved margins and volumes, offset lower crush results in U.S. for agribusiness in quarter

* Adjusting full-year 2017 EBIT range for agribusiness to $800 million to $925 million, weighted to second half of year Source text for Eikon: Further company coverage:

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