CHICAGO, Ill. (Reuters) —Bunge Ltd. has raised its full-year earnings outlook after posting an adjusted third-quarter profit that topped expectations.
The improved forecast was attributed to favourable market conditions as tight global crop supplies and strong demand have benefited companies in the middle of the supply chain.
Bunge’s earnings provided a glimpse into how grain merchants have weathered soaring crop and energy prices and supply chain disruptions.
It raised its full-year 2022 earnings guidance to US$13.50 per share after raising it to $12 a share three months earlier as the profit outlook for its core business segments improved.
Revenue rose to $16.759 billion from $14.117 billion a year ago, topping the consensus outlook for $16.087 billion.
