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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Bunge Reports Loss for Q4

02/18/2020

In a February 12th release, Bunge Limited (BG) reported Q4 and FY2019 results for the quarter ending December 31st 2019.  The Company posted a loss of $68 million on sales of $10.78 billion.  Earnings per share from continuing operations were negative $0.48. Comparative figures for the corresponding quarter of 2018 were loss of $1.74 on sales of $11.543 million with an EPS of negative $0.51.

 

For FY2019 BG lost $1.32 billion on sales of $41.14 billion.  For FY2018, the company posted a net income of $233 million on sales of $45.74 billion with an EPS of $1.57.  It is noted from the consolidated earnings data that for FY2019 gross margin was 1.3 percent or $542 million.  Commodity traders including the ABCD behemoths certainly conform to their characterization in The Economist as  "Shoveling Pennies".

 

The results posted are at variance with the optimistic comments of Greg Heckman, CEO who stated "as we look back across 2019 our team executed well despite the complex environment and the substantial changes that are underway at Bunge.  Looking ahead to 2020 we will remain nimble and prudent in order to maximize the earnings potential of our global platform”.


 
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