Bunge Q4 Adj. EPS Tops Estimates; Guides FY23 Below Estimates
(RTTNews) - Bunge Ltd. (BG) reported Wednesday that net income attributable to the company for the fourth quarter increased to $336 million or $2.21 per share from $231 million or $1.52 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $3.24 per share, compared to $3.49 per share in the year-ago quarter.
On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $3.22 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter edged down to $16.66 billion from $16.68 billion in the same quarter last year. Analysts expected revenues of $18.22 billion for the quarter.
Looking ahead to fiscal 2023, the company now projects adjusted earnings of at least $11.00 per share. The Street is looking for earnings of $12.00 per share for the year.
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