(Reuters) – Bunge raised its full-year adjusted earnings outlook on Wednesday for the third time in 2021, as the US agricultural commodities company benefits from rising demand for food and renewable fuels after relief of some pandemic restrictions.
“Looking ahead, we expect favorable market trends to continue. We are well positioned to help our customers across the supply chain address the challenges of meeting growing consumer demand for sustainable food, feed and fuels,” he said. Executive Director Greg Heckman.
Bunge now expects adjusted earnings for the full year to be at least $11.50 a share, compared with a previous outlook of at least $8.50 a share.
Bunge’s results showed a more recent perspective on how the world’s largest grain traders tackled the coronavirus pandemic and the changes it unleashed in demand for food and fuel as consumers prepared more meals at home and avoided unnecessary travel. .
Bunge’s net income increased to $653 million, or $4.28 per share, for the quarter ended Sept. 30, from $62 million, or $1.84 per share, a year earlier.
Revenue totaled $14.12 billion, compared with $10.16 billion a year earlier.
(Reporting by Karl Plume in Chicago and Arunima Kumar in Bengaluru)
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