By Dean Seal
Bunge’s profit slid in the third quarter on lower sales as volumes weakened in its agribusiness.
The St. Louis-based agricultural supply and transportation company posted a profit of $373 million, or $2.47 a share, compared with $380 million, or $2.49 a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were $2.99 a share. Analysts had been expecting $2.50, according to FactSet.
Quarterly sales fell to $14.23 billion from $16.76 billion last year, missing analyst forecasts for $15.33 billion, according to FactSet.
Bunge’s agribusiness, which accounts for a majority of its revenue, logged lower volumes and sales for the quarter as higher results in the processing side of the business were more than offset by lower results on the merchandising side.
Write to Dean Seal at [email protected]
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