Bunge reports first quarter adjusted loss per share of $1.34

Bunge reports first quarter 2020 results.q1 gaap loss per share $1.46.q1 earnings per share estimate $0.67 -- refinitiv ibes data.qtrly results impacted by approximately $385 million of temporary mark-to-market losses on forward hedges.progress on portfolio optimization with announcement to sell 35 us grain elevators.strong quarter in edible oils; results impacted by timing differences.qtrly adjusted loss per share $1.34.mark-to-market adjustments co incurred in quarter are expected to reverse in coming quarters.qtrly net sales $9,173 million versus $9,938 million.current market environment and forward curves indicate that full-year 2020 eps will be lower than original expectation.in agribusiness, full-year outlook has not meaningfully changed from original guidance.bunge- improved performance in brazil in milling was more than offset by lower results in n. america due to decline in margins from lower yield in quarter.fy results in edible oils are expected to be lower than original outlook.at end of q1 of 2020, had $193 million in cash and short-term investments on hand.bunge- loss in quarter in sugar & bioenergy segment reflects seasonally slow intercrop period.fy outlook of sugar and bioenergy joint venture has materially changed due to steep drop in brazilian ethanol prices.bunge - as covid-19 began to spread globally, concerns about soymeal availability caused global oilseed processing margins to spike toward end of quarter.
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