(RTTNews) - While reporting financial results for the third quarter on Wednesday, agribusiness and food company Bunge Ltd. (BG) raised its adjusted earnings guidance for the full year 2020 to a range of $6.25 to $6.75 per share, based on the strong results in the third quarter and improving market trends.
On average, nine analysts polled by Thomson Reuters expect the company to report earnings of $3.51 per share for the year. Analysts' estimates typically exclude special items.
In Agribusiness, the company's improved outlook reflects its third quarter year-to-date results, the current market environment and forward curves.
In Edible Oils, it now expects adjusted results to be up compared to last year due to the strong performance of its consumer businesses and growing biofuel demand. Expected full-year adjusted results in Milling continue to be in line with last year.
In Fertilizer, the company now expects full-year adjusted results to be slightly higher than last year.
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