Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Sao Martinho Drops in Sao Paulo as Earnings Trail Estimates

June 25 (Bloomberg) -- Sao Martinho SA, the owner of the world’s largest sugar-cane processing plant, declined after reporting earnings that trailed analysts’ estimates for a second straight quarter.

The shares dropped 1.8 percent to 25.53 reais at the close of trading in Sao Paulo, snapping two days of gains. The Ibovespa stock gauge advanced 2 percent.

Sao Martinho posted adjusted net income of 12.7 million reais ($5.7 million) for the fiscal fourth-quarter ended March 31, according to data compiled by Bloomberg after the company reported the results late yesterday. The average estimate of six analysts was 26.5 million reais.

While the results will probably “have a marginally negative impact on shares,” Banco Santander SA analysts including Christian Audi reiterated in a research note a buy recommendation, citing the company’s “cheap valuation, better-than-expected guidance for the fiscal 2014 harvest, and a substantial portion of sugar exports hedged at healthy levels.”

The Pradopolis, Brazil-based company forecasts sugar output of 996,000 tons for the 2013-2014 season, compared with 970,400 in the prior period. Ethanol output is projected to rise 43 percent.

Sao Martinho has fallen 8.8 percent this year, while the Ibovespa has plunged 23 percent.

To contact the reporter on this story: Julia Leite in New York at

To contact the editor responsible for this story: David Papadopoulos at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.