Dive Brief:
- Bunge's earnings disappointed for Q4 as $80 million in hedging losses put a damper on the report from the global leader in agricultural trading houses.
- Analysts predicted Bunge's revenue in Q4 to hover around $16.7 billion, which would have been an increase over last year's reported nearly $16.4 billion. Instead, the company reported close to $13.9 billion, which was a significant drop year over year. This was in spite of an 8.4% increase in revenue for the second quarter.
- Bunge also saw a decrease in Q4 net profit at $82 million from $115 million the previous year, dropping earnings per share from $0.78 per share last year to $0.56 per share.
Dive Insight:
Bunge was most recently in the headlines for an ongoing lawsuit from Syngenta over what Syngenta called false advertising when Bunge refused to accept Syngenta's Viptera corn strain in 2011. Syngenta eventually dropped the lawsuit in December.