Bunge quarterly income, revenue falls

Thu Oct 29, 2015 7:16am EDT
 
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CHICAGO Oct 29 (Reuters) - Grain trader Bunge Ltd reported a lower quarterly profit on Thursday due to weaker results in its sugar, fertilizer and food and ingredients businesses.

Net income available to shareholders in the third quarter fell to $229 million, or $1.56 per share, from $284 million, or $1.90 per share, a year earlier.

Excluding discontinued operations and other charges, adjusted net income was $1.24 per share, down from $1.31 a year ago. Analysts expected earnings of $1.56 per share, according to Thomson Reuters I/B/E/S.

Revenue dropped to $10.79 billion from $13.68 billion, below analysts' estimates for $12.64 billion.

Bunge's stock price is down about 13 percent this year. Shares of rival Archer Daniels Midland are down about 10 percent.

(Reporting by Tom Polansek)