Bunge Limited (NYSE: BG) reported Q3 EPS of $1.24, $0.31 worse than the analyst estimate of $1.55. Revenue for the quarter came in at $10.8 billion versus the consensus estimate of $12.74 billion.

Outlook

Drew Burke, Chief Financial Officer, stated, "In Agribusiness, strong underlying demand for soymeal and oil will continue to support a favorable U.S. and Brazilian soy crushing environment. European sunseed crush margins have improved in certain countries with the arrival of harvest; however, rapeseed and Canadian canola margins continue to be pressured by weak demand and a reluctant farmer.

"With the arrival of new crops, utilizations in our North American grain operations are picking up, although export margins are weak due to farmer retention and increased global competition. Our Brazilian grain handling assets, on the other hand, should benefit from strong export flows of corn due to this year's large safrinha crop.

"In Food & Ingredients, we expect sequential improvement from Q3 as we move into the seasonally strongest quarter. In Europe, margins will improve as new oilseed crops reset raw material costs. In North America, we expect continued good performance. And while results in Brazil should improve with seasonality, we will likely continue to face challenges expanding margins and increasing volumes in an environment of extremely low consumer confidence.

"In Sugar & Bioenergy, strong domestic demand and an improving price outlook for ethanol in Brazil gives us confidence that we will finish the year profitable and free cash flow positive.

"We are increasing our full-year effective tax rate forecast from 26% to a range of 28 to 30% excluding discrete tax items. The higher rate reflects a change in our expected mix of earnings to higher tax jurisdictions.

"We are decreasing our 2015 capex forecast from $875 million to approximately $750 million due to the timing of spend on certain long-term projects in Agribusiness and Food & Ingredients. The approximately $125 million difference will carry over into 2016 and 2017."

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