Bunge's Agribusiness Struggles in Third Quarter, but We Think Better Results Will Come With Time
Bunge's important agribusiness segment posted somewhat disappointing third-quarter results, and we've trimmed our companywide near-term expectations. Still, Bunge has made good progress on its cost-reduction plans, with significant year-over-year savings in segment-level selling, general, and administrative expenses. As such, we have raised our long-term profit expectations for the company, as we expect a higher level of cash generation when agribusiness eventually recovers in a normalized opera...
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