Bunge Limited (NYSE: BG) reported Q3 EPS of $2.52, $0.13 better than the analyst estimate of $2.39. Revenue for the quarter came in at $11.41 billion versus the consensus estimate of $12.05 billion.

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.

In Food & Ingredients, we are reducing our full-year EBIT outlook range to $250 to $270 million, reflecting a softer than expected third quarter in Edible Oils. While margins are currently recovering in Edible Oils, they are doing so at a pace slower than we had anticipated.

In Sugar & Bioenergy, we are reducing our full-year EBIT outlook from breakeven to a loss of between $20 and $40 million. This is based on the weaker than expected third quarter results and continued lower cane crush from the challenging weather conditions, and includes a year-to-date loss of $25 million in our trading & distribution business.

In Fertilizer, we are increasing our full-year EBIT outlook to approximately $35 million, an increase of $10 million from our previous outlook.

Expected savings from the Global Competitiveness Program and industrial and supply chain initiatives are reflected in our segment EBIT ranges.

Additionally, we expect the following for 2018: a tax rate at the upper end of the range of 18% to 22%; net interest expense in the range of $310 to $315 million, an increase of approximately $35 million due to higher inventories and interest rates; capital expenditures of approximately $600 million, a reduction of $50 million from our previous estimate.

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