Bunge Profit Disappoints on Weaker Oilseed-Crush Margins
- U.S., European crush earnings weakened amid soybean glut
- Company sees higher utilization at Argentine operations
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Bunge Ltd., the world’s largest oilseed processor, posted lower-than-expected fourth-quarter earnings after U.S. soybean processing margins fell and Brazilian demand weakened for food products such as margarine and wheat.
Profit excluding one-time items was $1.49 a share, the White Plains, New York-based company said Thursday in a statement, trailing the $1.56 average of 10 estimates compiled by Bloomberg. Sales dropped to $11.1 billion from $13.2 billion, missing the $11.6 billion average estimate. The shares tumbled the most in a year.