Bunge (BG) reported earnings on Wed 31 Oct 18 (b/o)

• Oct. 30: #15 

** chart before earnings **

** charts after earnings **

Bunge beats by $0.13, misses on revs; will form strategic review committee of the board focused on enhancing shareholder value

Reports Q3 (Sep) earnings of $2.52 per share, $0.13 better than the S&P Capital IQ Consensus of $2.39; revenues fell 0.1% year/year to $11.41 bln vs the $11.95 bln S&P Capital IQ Consensus.

Outlook

• Business conditions are expected to remain favorable for the balance of 2018 and into 2019 driven by strong oilseeds processing margins and improving conditions in Edible Oils.
• In Agribusiness, we expect our full-year 2018 EBIT results to be in the upper half of the range of $800 million to $1.0 billion, with fourth quarter results to be driven primarily by our Northern Hemisphere oilseeds operations

Will Form Strategic Review Committee of the Board Focused on Enhancing Shareholder Value

• Additionally, co announced that its Board of Directors has appointed the following three new board members: Paul Fribourg, Chairman and Chief Executive Officer of Continental Grain Company; Gregory Heckman, founding partner of Flatwater Partners; and Henry Winship, President of Pacific Point Capital, LLC. The appointments are effective today.
• With the addition of the three new directors, the Board has expanded to 14 directors. Bunge, the D. E. Shaw group and Continental Grain reached an agreement to appoint the three directors as well as a fourth, mutually agreeable independent director to be appointed by year end.