BG 4Q EPS "Well Ahead" Of Estimates, Jefferies Reports

Bunge Limited (NYSE: BG) reported 4Q EPS of $1.99, “well ahead of our Street-high $1.75 and the $1.59 Street estimate,” Jefferies reports.

“Importantly, excluding a ~$0.30 per share benefit from a lower tax rate, BG's results beat the Street by $0.10 - solid, but not spectacular, in our view.

“EPS upside delivered in the quarter driven by: 1) a much lower than expected tax rate (12% vs 25%), 2) strong global grain merchandising (product of global commodity price volatility and supply/demand imbalances), and 3) return to breakeven profitability with the fertilizer segment.”

Bunge Limited currently trades at $69.78.