0 Simon Mugo Posted July 31, 2019 Author Share Posted July 31, 2019 Quote Link to comment Share on other sites More sharing options...
0 Lillian McKenna Posted July 31, 2019 Share Posted July 31, 2019 Bunge Ltd (NYSE:BG) recently reported its second-quarter earnings results, which beat analysts’ expectations largely due to an increase in its 1.6% shareholding in Beyond Meat Inc. (NASDAQ:BYND) as the maker of vegan meat substitutes keeps rising following its IPO. The agribusiness and food company reported earnings per share of $1.52 with a large portion of the earnings ($0.90) being attributed to the $135m unrealised gain from the appreciation of its stake in Beyond Meat. BG also reported that its earnings from grain origination activities in South America grew significantly offsetting the decline reported in similar activities carried out within the North American market. The company’s American operations were negatively affected by the ongoing US-China trade war leading to a drastic drop in export demand for Bunge’s grains, while operations were also hampered by heavy rains and floods, which hindered the efficient movement of grains. Most analysts believe that Bunge will continue to outperform over the short-term, but given the difficulty of forecasting future demand and supply of grains and other agribusiness products, it remains to be seen exactly how the company will perform going forward. Quote Link to comment Share on other sites More sharing options...
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