From RTTNews:

Bunge Ltd. (BG) reported a surge in net income for the fourth quarter to $616 million or $4.18 per share compared to $336 million or $2.21 per share in the prior year. Excluding items, adjusted net income for the quarter was $3.70 per share. Net sales for the quarter edged down to $14.94 billion from $16.66 billion in the same quarter last year. Looking ahead to fiscal 2024, the company now projects adjusted earnings of approximately $9.00 per share.

Analysts had expected the company to report earnings of $2.80 per share for the quarter but it actually reported $3.70 per share. Revenues for the quarter were expected to be $15.06 billion, but were lower at $14.94 billion. The Street is looking for earnings of $10.52 per share for the year.



Read more: Bunge Q4 Adj. EPS Tops Estimates; Guides FY24 Below Estimates