US agribusiness giant Bunge has increased its fourth-quarter earnings outlook to between 81 and 91 cents a share.
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The revised estimate is well above the previous forecast of 55 to 60 cents a share and is also higher than Thomson First Call’s estimate of 61 cents a share. The company now expects net income of US$80m to $90m for the fourth quarter, compared to the $48m that the company earned in the fourth quarter of last year.
Bunge is the largest processor of soybeans in the Americas and will become the world’s largest oilseed processor following the recently announced acquisition of France-based food and oilseed processor Cereol, reported the Associated Press.
