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