Good Thanks, morning, everyone. Greg.
the turn six. highlights in Let's earnings slide to
quarter earnings per from third a quarter year. of $X.XX in was EPS $X.XX gain to operations loss a the compared reported in the QX Our share versus continuing in third XXXX. Adjusted of of prior $X.XX $XX.XX was
other primarily results approximately Brazilian milling to our portfolio to of in of initiatives, Our impairment billion included $X.X consisting charges sugarcane related business. and reported charges billion approximately $X.X related
the loss billion, result temporarily $X.X reduced As next in this been the shareholders' has period. slide, as a shown the on impairment recorded reflecting equity approximately by of impairment, total
the When equity shareholders' year, increasing be cumulative the translation effectively of billion transaction this will by closes amount. $X.X released, balance that related later adjustment
sugar to related quarter, impairments the other broader part addition charges we $XXX the incurred In of other in to million impairment, in of review. as a severance segments and primarily portfolio our
EBIT versus in the Total million was versus year. basis, excludes a EBIT in total prior of quarter segment adjusted billion the an On million of in notables, segment $X.XX EBIT was million prior-year. $XXX $XXX the which the $XXX quarter in loss
EBIT last compared adjusted year. was $XXX Agribusiness million to million $XXX
and crush average in soy significantly meal. retention soft lower export than soy Oilseeds, farmer of margins XXXX, in of soybeans a combination anticipation were higher demand In driven global by prices for
approximately soy impacted QX. $XX impacted crush Results mark-to-market million on by of contracts, which reversals favorably were negatively
new crush soy in our quarter resulted forward margins approximately benefiting in during decrease the gains of mark-to-market million, third results. a However, $XX
the to we expect quarter, reverse. mainly in As on these these we execute gains fourth contracts,
net year's $XXX a Last mark-to-market oilseeds already approximately includes adding performance gain of million, to strong margins. stronger in
as Canada biodiesel. last and distribution year, results and higher by and processing trading Softseed in the were in quarter China, were results than led
export in North primarily dispute retention trade South In demand, farmer the results to harvest and US-China America, both related due in the lower US. to and delayed were Grains, soft the
lower in and than Results and were last freight year. distribution ocean trading
$XX Food Ingredients to million was in million of XXXX. & $XX compared QX EBIT adjusted
benefiting as execution. and better balance results Oil oil well America driven last year, of $XX up supply/demand in Brazil, Edible from were results better improved soy by North from million largely as
to results. increased Bunge contributed Loders the also Croklaan
milling comparable year. lower by were in and in in lower margins volumes driven last margins the US to and Weaker Brazil Mexico. Results results were
due Sugar the Bioenergy to sale, cane higher & largely sugarcane lower from as which and of depreciation resulting were in prices. reclassification lower as crush million for volumes Brazilian held results prices, well ethanol Higher to more milling increased of sugar business the offset $XX than
results with prior the in Fertilizer were line year.
resolutions We reported the $XX million million benefit $XX included uncertain positions. of in the quarter, tax tax of of third which favorable
notable our expect our tax current XX% the we of in the excluding rate on XX% for Based outlook, range when be to items. year full to effective
X. to slide Let's turn
were funds Our trailing operations billion. from XX-month adjusted approximately $X
our see XX% Approximately largely net of finance at finances our used X, readily to of debt inventories debt can end And the as you inventories. quarter. the our on was slide marketable
facilities cash credit $XXX to $X available billion which had balance XX, at of million. Turning approximately we we was slide the end of of $X.X and have a billion, of the committed quarter,
our $XXX slide to in to CapEx summary first allocation. turn Year-to-date, of we months in million nine $XXX from and XXXX. XX From funds this Let's nine months year-to-date spending capital total, adjusted million the $XXX generated of of compared the first was of million. operations XXXX
of which forecast $XXX contributing we're year-to-date BP. million. JV It million likely spend, Based the $XXX million our to spending be be about to the with million CapEx year and to $XXX on that this should of noted will milling full-year our business, relate year-to-date $XXX CapEx our sugarcane
We QX. we left $XXX reduction. million with paid allocated million debt shareholders $XX This in towards to us dividends approximately in that
Let's capital. XX and invested slide our turn on to return
cost capital, Our segments trailing four-quarter average of was core to equal in return Food X%. & our our capital Ingredients invested on Agribusiness and
Our target is X%, points which basis above is WACC. our XXX
the strong the from The decline in QX gain large unusually higher benefitted the crush reflects prior-year soy four-quarter trailing that and margins. the in QX ROIC the mark-to-market from
things some closing back Greg comments. I'll that, to With turn for over
