Bunge beats by $0.11, beats on revs; provides FY17 segment EBITDA guidance & outlook :
- Reports Q4 (Dec) earnings of $1.70 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus of $1.59; revenues rose 8.3% year/year to $12.06 bln vs the $11.41 bln Capital IQ Consensus.
- Outlook:
- "Our full-year 2017 outlook remains largely consistent with the assumptions that we provided at our December investor day. In Agribusiness, we expect EBIT to return to historical range of $895 to $1,050 million, driven by large crops in South America, of which Brazilian farmers have a significant percentage remaining to price; a return to more normal levels of soy meal inclusion in feed rations; and higher softseed crush margins due to the combination of greater seed supply and robust vegetable oil demand. We expect Agribusiness to start the year slow and progressively improve as volumes and margins pick up in South America."
- "In Food & Ingredients, we expect segment results to improve sequentially as we progress through the year, resulting in EBIT of $270 to $290 million. Our outlook for year-over-year improvement reflects higher margins and volumes resulting from our performance improvement initiatives, more favorable product mix of higher value added products and full year contributions from our new wheat mills in Brazil."
- "In Sugar & Bioenergy, we expect 2017 EBIT of $100 to $120 million."
- In Sugar & Bioenergy, our sugar is hedged at higher prices and Brazilian ethanol prices should be supported by favorable supply and demand. Importantly, we will also continue to drive our performance improvement programs, expecting $100 million of incremental benefits in 2017."
- "In Fertilizer, we expect EBIT of approximately $30 million."
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