Edition:
India

Bunge Reports Q1 Adj EPS Of $0.36, Appoints New CFO


Wednesday, 8 May 2019 

May 8 (Reuters) - Bunge Ltd ::BUNGE REPORTS FIRST QUARTER 2019 RESULTS.Q1 EARNINGS PER SHARE $0.26 FROM CONTINUING OPERATIONS.Q1 EARNINGS PER SHARE ESTIMATE $-0.03 -- REFINITIV IBES DATA.Q1 GAAP EARNINGS PER SHARE $0.26.JOHN W. NEPPL APPOINTED CHIEF FINANCIAL OFFICER, EFFECTIVE MAY 29.ON TRACK TO DELIVER $250 MILLION OF TOTAL SAVINGS A YEAR AHEAD OF SCHEDULE.QTRLY NET SALES $9,938 MILLION VERSUS $10,641 MILLION REPORTED LAST YEAR.HIGHER AGRIBUSINESS RESULTS REFLECT BETTER OILSEEDS CRUSH VOLUMES AND MARGINS IN QUARTER.Q1 REVENUE VIEW $10.76 BILLION -- REFINITIV IBES DATA.QTRLY ADJUSTED. EARNINGS PER SHARE $0.36.VIEW ON 2019 FULL-YEAR CONSOLIDATED RESULTS HAS NOT CHANGED FROM ITS PREVIOUSLY DISCLOSED OUTLOOK, PROVIDED ON FEBRUARY 21, 2019.IMPROVED Q1 RESULTS IN FOOD & INGREDIENTS DRIVEN BY FULL QUARTER OF LODERS CROKLAAN OWNERSHIP AND HIGHER MARGINS IN BRAZIL OPERATIONS.NEPPL JOINS BUNGE FROM GREEN PLAINS INC.IN AGRIBUSINESS, BASED ON CURRENT SOY CRUSH MARGIN ENVIRONMENT, 2019 FULL-YEAR RESULTS WOULD BE EXPECTED TO BE LOWER THAN 2018.NEPPL WILL SUCCEED THOMAS M. BOEHLERT.BASED ON CURRENT SOFTSEED CRUSH MARGIN ENVIRONMENT, 2019 AGRIBUSINESS RESULTS WOULD BE SLIGHTLY HIGHER THAN 2018, DRIVEN BY STRONG OIL DEMAND.APPOINTED JOHN W. NEPPL AS CHIEF FINANCIAL OFFICER, EFFECTIVE MAY 29, 2019.IN FERTILIZER, BASED ON CURRENT MARKET ENVIRONMENT, FULL-YEAR RESULTS WOULD BE LOWER THAN LAST YEAR..FOR MILLING, IMPROVED QTRLY RESULTS IN BRAZIL WERE MORE THAN OFFSET BY LOWER MARGINS AND VOLUMES IN MEXICO.