Fertilizer Overview DREW BURKE, CFO, BUNGE LIMITED BUNGE INVESTOR DAY
|
|
- Camron Leonard
- 6 years ago
- Views:
Transcription
1 Fertilizer Overview DREW BURKE, CFO, BUNGE LIMITED BUNGE INVESTOR DAY
2 Forward-Looking Statements Today s presentation includes forward-looking statements that reflect Bunge s current views with respect to future events, financial performance and industry conditions. These forward-looking statements are subject to various risks and uncertainties. Bunge has provided additional information in its reports on file with the SEC concerning factors that could cause actual results to differ materially from those contained in this presentation and encourages you to review these factors BUNGE INVESTOR DAY
3 Business Update Volumes and margins improving with seasonally stronger South American buying period and strong farm economics Expect segment to recover first half loss Markets sending price signals to South American farmers to expand acreage and increase use of crop inputs in BUNGE INVESTOR DAY
4 Bunge Fertilizer Operations U.S. NPK wholesale Morocco JV Acidulation plants Phosphoric Acid/MAP/DAP/TSP production plants Brazil NPK blending & distribution SSP production plant Port operations Argentina NPK blending & distribution SSP production plant Nitrogen production plant BUNGE INVESTOR DAY
5 Bunge Argentina Fertilizer South America Ramallo SSP and Port Facilities Campana Nitrogen Industrial Facilities Volume 2011 Total: ~1 mmt Import + National: ~47% Own Production: ~53% Blending / Distribution Facilities Production Facilities Ramallo SSP Campana Ammonia, Urea and Liquid Fertilizers BUNGE INVESTOR DAY
6 Argentina Fertilizer Market Fertilizer Market Evolution Million of metric tons Main Crop Profile 2012e Million of metric tons 4 Wheat 3 Corn '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12e Soybean Sunflower Others Source : ANDA; Bunge analysis BUNGE INVESTOR DAY
7 Bunge Brazil Fertilizer Brands South America Sales Mix by Crop Corn Soya Sugarcane Coffee Other Wheat Cascavel Blending Unit Volume 2011 Total: 4,6 mmt Import: ~65% Domestic: ~35% Santos Terminal (operated by Bunge) Facilities Blending / Distribution Facilities (21) Storage/Transshipment Facilities SSP BUNGE INVESTOR DAY
8 Transitioning the Brazil Fertilizer Business to Standalone Operation Bunge Brazil Market Share (million metric tons of NPK) Sale of mines Brazil Market Bunge Share 29.3 Following sale of mines, distribution business was not structured to operate efficiently as a standalone business Volume focused Facility gaps High cost structure Long inventory pipeline 25% 25% 18% 16% 16% e Actions Enhanced risk management Rationalized physical footprint Filled management and skills gaps Reduced cost structure Increased integration with Agribusiness Sources: ANDA / Fertilizer Market Intelligence BUNGE INVESTOR DAY
9 Summary Argentina operations performing well Brazil operations improving cost reductions, improved risk management, higher volume Fertilizer is an important element of originating crops for agribusiness in South America Provides added benefit of insight into crop production BUNGE INVESTOR DAY
10 Financial Overview DREW BURKE, CFO, BUNGE LIMITED BUNGE INVESTOR DAY
11 2012 Financial Highlights 1st Half 2012 Overview: Good Start, But Results Mixed 2nd Half 2012 Outlook: Expecting Good Finish to Year Capital Structure: Strong Financial Position BUNGE INVESTOR DAY
12 Bunge Limited 2012 Jun YTD Earnings Highlights Volumes (mmt) Jun 2011 Jun 2012 YTD YTD Agribusiness volumes up 22% reflecting new investments Agribusiness benefitted from strong performance in South America EBIT ($m) (1) $653 $447 Sugar & Bioenergy impacted by lower ethanol margins and delayed harvest due to rains Jun 2011 Jun 2012 YTD YTD $3.27 EPS (1) $1.91 Food & Ingredients impacted by lower margins and challenges related to new SAP system in Brazil Fertilizer impacted by lower market prices during Q1; Q2 as expected Jun 2011 Jun 2012 YTD YTD 1. Total segment EBIT and earnings per common share-diluted (excl. certain gains and charges) are non-gaap financial measures. A reconciliation to the most directly comparable U.S. GAAP measure is included elsewhere in this presentation BUNGE INVESTOR DAY
13 2nd Half 2012 Outlook Expecting good finish to the year Expect strong processing and merchandising performance driven by South America in Q3 and North America and Europe in Q4 when harvests commence Sugar & Bioenergy improving with seasonally stronger period but ATR lower than expected Expect results in Food & Ingredients to improve from 1H levels and perform similar to 2H 2011 Fertilizer is improving with better volumes and margins from seasonally stronger South America season; expect to recover 1H loss BUNGE INVESTOR DAY
14 Bunge Limited 2012 June YTD Cash Flow Highlights Rising commodity prices increase working capital needs Pace of farmer selling typically picks up Inventories gain in value, resulting in higher requirements to support margin calls on CBOT hedged positions (US$ million) Six Months Ended Jun Funds from Operations (1) $401 $571 Changes in Operating Assets & Liabilities $(3,100) $(307) Cash provided by (used for) Operating Activities $(2,699) $ Represents net income plus adjustments to reconcile net income to cash provided by (used for) operating activities and excludes changes in operating assets and liabilities BUNGE INVESTOR DAY
15 CAPEX Allocation by Segment and Category Growth & Productivity Fertilizer Sugar & Bioenergy Cane planting Cogen capacity Foods & Ingredients Refineries Agribusiness Port terminals Crushing plants Maintenance & Compliance (all segments) ~$1.2B ~25% ~20% ~30% ~20% 2012e 2012e net capex of ~$1.2 billion Projects evaluated on strategic rationale and investment return vs. hurdle rate Hurdle rates unique for each business and country For example, crush plant in Canada has a different hurdle rate than similar project in Vietnam BUNGE INVESTOR DAY
16 Financial Policy Framework Investment grade credit rating is a key element of our strategy to create long-term shareholder value Targeting a strong BBB credit rating by: Deploying internal operating metrics to support our rating Maintaining a strong balance sheet Taking a conservative approach to liquidity management including a balanced debt maturity profile Having a modest dividend policy tracking expected earnings growth Financial planning is based on funding of Capex, OPWC and dividends with internally generated cash M&A transactions to be consistent with credit rating objective BUNGE INVESTOR DAY
17 Consistent Record of Increasing Dividends US$ per share of common stock BUNGE INVESTOR DAY
18 Credit Metrics (US$ millions) Year Ending December Total Debt / Total Capital 34% 31% 27% 28% 25% EBITDA (1) / Interest Expense 5.0x 5.9x 2.7x 5.2x 5.6x Total Debt / EBITDA (1) 2.6x 1.7x 4.9x 3.2x 2.4x Our credit ratios have been consistent with a BBB rating 1. EBITDA = Gross profit less SG&A ± foreign exchange gain/(loss) + depreciation, depletion and amortization. EBITDA is not a U.S. GAAP financial measure. A reconciliation to the most directly comparable U.S. GAAP measure is provided at the end of this presentation BUNGE INVESTOR DAY
19 Long-Term Financial Targets Company-Wide EPS growth of 10-12% per year (average over 5 years) ROIC = WACC + 2 points Business Segments (average annual volume growth over 5 years) Agribusiness Sugar & Bioenergy Food & Ingredients Fertilizer 5-7% 8-10% 3-5% 5-7% Volume Growth BUNGE INVESTOR DAY
20 Wrap Up We have the right capabilities for the long-term Geographic balance Diverse product portfolio Experienced team Strong balance sheet We are well prepared for today s market Core capabilities Network Improving returns Driving for best in class performance in Sugar & Bioenergy Extracting more value in Food & Ingredients Building on momentum in Fertilizer BUNGE INVESTOR DAY
21 Thank You BUNGE INVESTOR DAY
22 Appendix
23 Backup: Non-GAAP Reconciliation Below is a reconciliation of total segment EBIT to net income attributable to Bunge: Six Months Ended Jun 30 ($ in millions) Total segment EBIT $541 $690 Interest income Interest expense (144) (142) Income tax (82) (63) Noncontrolling interest share of interest and tax 4 19 Net income attributable to Bunge $366 $ BUNGE INVESTOR DAY
24 Backup: Non-GAAP Reconciliation Below is a reconciliation of earnings per common share-diluted (excl. certain gains & charges) to earnings per common share-diluted: Six Months Ended Jun Earnings per common share-diluted (excl. certain gains & charges) $1.91 $3.27 Certain gains & charges (1) $0.46 $0.24 Earnings per common share-diluted $2.37 $ See the Additional Financial Information section included in the tables attached to the earnings press release for more information BUNGE INVESTOR DAY
25 Backup: Non-GAAP Reconciliation Notes Total segment earnings before interest and tax Total segment earnings before interest and tax ( EBIT ) is Bunge s consolidated net income that excludes interest income and expense and income tax attributable to each segment. Total segment EBIT is a non-gaap financial measure and is not intended to replace net income attributable to Bunge, the most directly comparable GAAP financial measure. Total segment EBIT is an operating performance measure used by Bunge s management to evaluate its segments operating activities. Bunge s management believes EBIT is a useful measure of its segments operating profitability, since the measure reflects equity in earnings of affiliates and noncontrolling interest and excludes income tax. Income tax is excluded as management believes income tax is not material to the operating performance of its segments. In addition interest income and expense have become less meaningful to the segments operating activities. Total segment EBIT is not a measure of consolidated operating results under U.S. GAAP and should not be considered as an alternative to net income attributable to Bunge or any other measure of consolidated operating results under U.S. GAAP BUNGE INVESTOR DAY
Bunge Reports Third Quarter 2017 Results
Bunge Reports Third Quarter 2017 Results White Plains, NY - November 1, 2017 - Bunge Limited (NYSE:BG) Q3 GAAP EPS of $0.59 vs. $0.79 last year, $0.75 vs $0.73 on an adjusted basis Agribusiness improved
More informationBunge Reports Fourth Quarter 2017 Results
Bunge Reports Fourth Quarter 2017 Results White Plains, NY - February 14, 2018 - Bunge Limited (NYSE:BG) Q4 GAAP EPS of $(0.48) reflecting charges primarily related to restructuring and tax reform; $0.67
More informationBMO CAPITAL MARKETS AGRICULTURE & PROTEIN CONFERENCE May 15, 2008
BMO CAPITAL MARKETS AGRICULTURE & PROTEIN CONFERENCE May 15, 2008 Forward Looking Statements Today s presentation includes forward-looking statements that reflect Bunge s current views with respect to
More information2Q08 Results. Dalton Carlos Heringer CEO and Member of the Board of Directors Jaime Rebelo CFO and IRO. August 14, 2008
2Q08 Results Dalton Carlos Heringer CEO and Member of the Board of Directors Jaime Rebelo CFO and IRO August 14, 2008 Disclaimer and IFRS This presentation may include forward-looking statements about
More informationBunge Sugar & Bioenergy OTC Pricing Solutions. Bangkok, 20 th September 2010.
Bunge Sugar & Bioenergy OTC Pricing Solutions Bangkok, 20 th September 2010. Forward Looking Statements Today s presentation includes forward-looking statements that reflect Bunge s current views with
More informationFirst Quarter Earnings Conference Call. May 2, 2017
First Quarter 2017 Earnings Conference Call May 2, 2017 Safe Harbor Statement 2 Some of our comments constitute forward-looking statements that reflect management s current views and estimates of future
More information3Q17 and 9M17 Results NOVEMBER 2017
3Q17 and 9M17 Results NOVEMBER 2017 Brazilian Fertilizer Market The Company & Financial Highlights Outlook In thousands of metric tons BRAZILIAN FERTILIZER MARKET - DELIVERIES +9.8% +1.3% +6.7% +3.3% 22,294
More informationAgrium s Q Earnings Conference Call
Agrium s Q3 2015 Earnings Conference Call November 5, 2015 Advisory Forward-Looking Statements Certain statements and other information included in this presentation constitute "forward-looking information",
More informationCompass Minerals Business Update. August 6, 2018
N Compass Minerals Business Update August 6, 2018 Forward-Looking Statements Certain statements in this presentation, including without limitation statements about the highway deicing bid season, including
More informationFourth Quarter Earnings Conference Call. February 2, 2016
Fourth Quarter 2015 Earnings Conference Call February 2, 2016 Safe Harbor Statement 2 Some of our comments constitute forward-looking statements that reflect management s current views and estimates of
More information2012 Fourth Quarter Financial Results
2012 Fourth Quarter Financial Results February 20, 2013 NYSE: CF Safe Harbor Statement All statements in this communication, other than those relating to historical facts, are forward-looking statements.
More informationSecond Quarter Earnings Call. August 8, 2018
Second Quarter Earnings Call August 8, 2018 1 Safe Harbor and Non-GAAP Financial Measures Certain information discussed today constitutes forward-looking statements. Actual results could differ materially
More informationBunge Limited CAGNY CAGNY
Bunge Limited CAGNY 2017 1 2017 CAGNY Forward-looking statements Today s presentation includes forward-looking statements that reflect Bunge s current views with respect to future events, financial performance
More informationFourth Quarter and Full Year Earnings Call. February 14, 2019
Fourth Quarter and Full Year Earnings Call February 4, 209 Safe Harbor and Non-GAAP Financial Measures Certain information discussed today constitutes forward-looking statements. Actual results could differ
More informationSecond Quarter 2016 Earnings Conference Call. 20 May 2016
Second Quarter 2016 Earnings Conference Call 20 May 2016 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More informationYara International ASA 2017 fourth quarter results. 8 February 2018
Yara International ASA 217 fourth quarter results 8 February 218 Safe operations is our first priority 4.5 4. TRI (Total recordable injuries 12-month rolling) 1 3.5 3. 2.5 2. 1.5 Jan Feb Mar Apr May Jun
More informationThird Quarter Earnings Call. November 8, 2016
Third Quarter Earnings Call November 8, 2016 Forward Looking Statements & Non-GAAP Measures Certain information discussed today constitutes forward-looking statements. Actual results could differ materially
More informationYara International ASA Third Quarter results 2013
Yara International ASA Third Quarter results 213 18 October 213 IR-Date: 213-1-18 1 Summary third quarter Strong results despite weaker commodity fertilizer markets 17% increase in deliveries including
More informationFourth Quarter 2014 Earnings Conference Call. 26 November 2014
Fourth Quarter 2014 Earnings Conference Call 26 November 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationSecond Quarter 2011 Earnings Conference Call. 18 May 2011
Second Quarter 2011 Earnings Conference Call 18 May 2011 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More information3Q 2018 Earnings Call. 17 August 2018
3Q 2018 Earnings Call 17 August 2018 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans and
More informationYara International ASA Fourth quarter results 2014
1 Yara International ASA Fourth quarter results 2014 11 February 2015 2 Summary fourth quarter Strong result driven by higher margins Margins benefit from lower European gas prices and stronger US dollar
More informationStifel 2018 Cross Sector Insight Conference. June 12, 2018
N Stifel 2018 Cross Sector Insight Conference June 12, 2018 Forward-Looking Statements Certain statements in this presentation, including without limitation statements about the company; market growth
More informationBMO Farm to Market Conference. May 18, 2017
BMO Farm to Market Conference May 18, 2017 Todd Becker President & Chief Executive Officer Green Plains Inc. NASDAQ: GPRE www.gpreinc.com Green Plains Partners LP NASDAQ: GPP www.greenplainspartners.com
More information9M 2016 IFRS Results
9M 216 IFRS Results 1. Market context Market context The average price of DAP (FOB Tampa) in 3Q 216 was USD 339 per tonne, representing a 27% decrease year-on-year. For 9M 216 the average DAP price (FOB
More informationLuis Henrique. Guimarães CEO
Luis Henrique Guimarães CEO Disclaimer This presentation contains estimates and forward-looking statements regarding our strategy and opportunities for future growth. Such information is mainly based on
More information2Q 2018 Earnings Call. 18 May 2018
2Q 2018 Earnings Call 18 May 2018 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans and projections
More information4Q 2017 Earnings Call. 22 November 2017
4Q 2017 Earnings Call 22 November 2017 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans
More informationWILMAR INTERNATIONAL LIMITED 2Q2016 Results Briefing. August 11, 2016
WILMAR INTERNATIONAL LIMITED 2Q2016 Results Briefing August 11, 2016 IMPORTANT NOTICE Information in this presentation may contain projections and forward looking statements that reflect the Company s
More informationFourth Quarter 2016 Earnings Conference Call. 23 November 2016
Fourth Quarter 2016 Earnings Conference Call 23 November 2016 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationThe Andersons, Inc. Second Quarter Conference Call We are well-positioned to capitalize on macro trends such as
We are well-positioned to capitalize on macro trends such as» Expanding world population» Escalating global demand for protein» Increasing North American crop production which continues to drive strong
More informationFourth Quarter 2017 Update. February 27, 2018
Fourth Quarter 2017 Update February 27, 2018 1 Agenda Overview Dan Greenwell, President and Chief Executive Officer Operations Review John Diesch, Executive Vice President, Chemical Manufacturing Financial
More informationWILMAR INTERNATIONAL LIMITED 1Q2016 Results Highlights. May 10, 2016
WILMAR INTERNATIONAL LIMITED 1Q2016 Results Highlights May 10, 2016 IMPORTANT NOTICE Information in this presentation may contain projections and forward looking statements that reflect the Company s current
More informationNew growth initiatives: Kemira GrowHow, Libya and Praxair JV. Yara has secured increased flexibility in European gas contracts
2Q 2007 Yara International quarterly report 2007 Strong financial results Higher fertilizer prices Further market growth in Brazil Lower energy cost and reduced oil exposure New growth initiatives: Kemira
More informationSecond Quarter Earnings Conference Call. July 31, 2018
Second Quarter 2018 Earnings Conference Call July 31, 2018 Safe Harbor Statement 2 Some of our comments constitute forward-looking statements that reflect management s current views and estimates of future
More information2018 Second Quarter Report.
2018 Second Quarter Report www.nutrien.com Management s Discussion and Analysis of Financial Condition and Results of Operations (In US Dollars) The following management s discussion and analysis (MD&A)
More informationFourth Quarter 2008 Earnings Conference Call 26 November th Quarter 2008 Earnings Conference Call
Fourth Quarter 2008 Earnings Conference Call 26 November 2008 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More information3Q11 and 9M11 Results
3Q11 and 9M11 Results November 11, 2011 1 Agenda Period Highlights Brazilian Fertilizer Market Heringer s Sales and Breakdown by Crop Specialty Products Client Base and Market Share Financial Results Income
More informationFourth Quarter 2011 Earnings Conference Call. 23 November 2011
Fourth Quarter 2011 Earnings Conference Call 23 November 2011 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationAlico, Inc. Announces Fiscal Year 2015 First Quarter Financial Results
February 9, 2015 Alico, Inc. Announces Fiscal Year 2015 First Quarter Financial Results FORT MYERS, Fla., Feb. 9, 2015 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico") (Nasdaq:ALCO), an American agribusiness
More informationYara International ASA First Quarter results 2013
Yara International ASA First Quarter results 213 22 April 213 1 Summary first quarter Strong results with stable margins Strong cash flow Fertilizer deliveries close to last year despite late spring Record
More informationCompany Presentation 2Q 2016 Results. 12 Aug 2016
Company Presentation 2Q 2016 Results 12 Aug 2016 Presentation Outline 1 Plantation Highlights 2 Financial Highlights 3 Strategies and Expansion 4 Appendix 2 Plantation Highlights 3 Planted Area In Ha 30
More informationNutrien Q4 Results Presentation. February 5, 2018
Nutrien Q4 Results Presentation Forward Looking Statements 2 Certain statements and other information included in this presentation constitute "forward-looking information" or "forward-looking statements"
More informationSysco 2Q16 Earnings Results. February 1, 2016
Sysco 2Q16 Earnings Results February 1, 2016 Forward-Looking Statements Statements made in this presentation or in our earnings call for the second quarter of fiscal 2016 that look forward in time or that
More informationYara International ASA 2017 third quarter results. 19 October 2017
Yara International ASA 217 third quarter results 19 October 217 Safe operations is our first priority 4.5 4. TRI (Total recordable injuries 12-month rolling) 1 3.5 3. 2.5 2. 1.5 Jan '16 Feb Mar Apr May
More informationCautionary Information
September 6, Cowen & Company 10 th Annual Global Transportation Conference Rob Knight CFO 1 Cautionary Information This presentation and related materials contain statements about the Company s future
More informationJPMorgan. Basics and Industrials Conference. New York, NY
JPMorgan Basics and Industrials Conference New York, NY June 11, 2007 Forward Looking Statements & Non-GAAP Measures This presentation includes forward-looking statements within the meaning of the Private
More informationWILMAR INTERNATIONAL LIMITED 4Q2016 Results Briefing. Feb 20, 2017
WILMAR INTERNATIONAL LIMITED 4Q2016 Results Briefing Feb 20, 2017 IMPORTANT NOTICE Information in this presentation may contain projections and forward looking statements that reflect the Company s current
More informationQ Supplemental Financial Information. February 1, 2018
February 1, 2018 This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future
More information1Q 2019 Earnings Call. 15 February 2019
1Q 2019 Earnings Call 15 February 2019 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans
More informationInvestor Presentation. February 2018
Investor Presentation February 2018 Legal Disclaimer 2 Certain statements and other information included in this presentation constitute "forward-looking information" or "forward-looking statements" (collectively,
More information2016 Annual Integrated Report GRAPHS
Annual Integrated Report GRAPHS PotashCorp AIR Graphs Page WHY POTASHCORP? GLOBAL POPULATION (billions) FERTILIZER CONSUMPTION GROWTH RATE FORECAST (percentage annual long-term global growth rate) GLOBAL
More information4Q 06. Yara International. Earnings per share
4Q 2006 quarterly report FOURTH quarter And Preliminary results 2006 Yara International Strong financial results Increased sales in Latin America and Asia, delayed season in Europe and North America Strong
More informationInvestor Presentation. BMO Capital Markets 13 th Annual Farm to Market Conference May 2018
Investor Presentation BMO Capital Markets 13 th Annual Farm to Market Conference May 2018 Forward Looking Statements 2 Certain statements and other information included in this presentation constitute
More informationKERNEL HOLDING S.A. COMPANY PRESENTATION. January 2014
KERNEL HOLDING S.A. COMPANY PRESENTATION Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no reliance
More informationInternational Paper Company. Reconciliation of Non-GAAP Financial Measures
International Paper Company Reconciliation of Non-GAAP Financial Measures This presentation includes certain non-u.s. GAAP financial measures. The calculation of these measures, and a reconciliation to
More informationAmerican Italian Pasta Company
American Italian Pasta Company 2 nd Quarter Fiscal 2010 Results May 6, 2010 Forward Looking Statements This presentation contains statements concerning potential future events. These forward-looking statements
More information3nd Quarter 2017 Earnings Webcast
3nd Quarter 2017 Earnings Webcast November 15, 2017 DISCLAIMER This press release contains forward-looking statements that are based on our current expectations, assumptions, estimates and projections
More information2015 Third Quarter Earnings Call. November 5, 2015
2015 Third Quarter Earnings Call November 5, 2015 20 5 The Andersons, Inc. Forward Looking Statements Certain information discussed today constitutes forward-looking statements. Actual results could differ
More informationCash Interest. Adjusted EBITDA Reconciliations
Non-GAAP Financial Measures Cash Interest Cash Interest is a supplemental non-gaap financial measure that is used by management and external users of the Company s financial statements, such as industry
More informationInternational Paper Company. Reconciliation of Non-GAAP Financial Measures
International Paper Company Reconciliation of Non-GAAP Financial Measures This presentation includes certain non-u.s. GAAP financial measures. The calculation of these measures, and a reconciliation to
More informationAG GROWTH INTERNATIONAL INC. MANAGEMENT S DISCUSSION AND ANALYSIS Dated: March 14, 2018
AG GROWTH INTERNATIONAL INC. MANAGEMENT S DISCUSSION AND ANALYSIS Dated: March 14, 2018 This Management s Discussion and Analysis ( MD&A ) should be read in conjunction with the audited consolidated comparative
More information3Q Presentation. November 7, 2017
3Q Presentation November 7, 2017 SAFE HARBOR Statements contained in this presentation that are not historical and reflect our views about future periods and events, including our future performance, constitute
More informationFinancial Results for Third Quarter Ended Sep 30, Pilgrim s Pride Corporation (NASDAQ: PPC)
Financial Results for Third Quarter Ended Sep 30, 2018 Pilgrim s Pride Corporation (NASDAQ: PPC) Cautionary Notes and Forward-Looking Statements Statements contained in this presentation that share our
More informationKERNEL HOLDING S.A. COMPANY PRESENTATION. October 2013
KERNEL HOLDING S.A. COMPANY PRESENTATION Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no reliance
More informationThird Quarter 2018 Earnings I October 25, 2018
Third Quarter 208 Earnings I October 25, 208 Forward-Looking Statements Certain statements in this presentation may be considered forward-looking statements. Words such as expects, anticipates, estimates,
More informationThe Andersons, Inc. Third Quarter Conference Call We are well-positioned to capitalize on macro trends such as
We are well-positioned to capitalize on macro trends such as» Expanding world population» Escalating global demand for protein» Increasing North American crop production which continues to drive strong
More informationQ3 FY 2015 FINANCIAL RESULTS CONFERENCE CALL April 30, 2015 at 5:00 pm ET
Q3 FY 2015 FINANCIAL RESULTS CONFERENCE CALL April 30, 2015 at 5:00 pm ET SAFE HARBOR This presentation may contain certain comments, which are forward-looking statements that involve plans, strategies,
More informationCOSAN S/A. 2Q18 Earnings Presentation. August 09, 2018
COSAN S/A Earnings Presentation August 09, 2018 2 DISCLAIMER This presentation contains estimates and forward-looking statements regarding our strategy and opportunities for future growth. Such information
More informationWaste Management Announces Fourth Quarter and Full-Year 2013 Earnings
Waste Management Announces Fourth Quarter and Full-Year 2013 Earnings February 18, 2014 Company sees strong cash generation in 2013 and expects continued strength in 2014 HOUSTON--(BUSINESS WIRE)--Feb.
More informationCIBC Whistler Investor Presentation
CIBC Whistler Investor Presentation January 2018 Chuck Magro, President & CEO Forward Looking Statements 2 Certain statements and other information included in this presentation constitute "forward-looking
More informationFY2012 First Quarter Results February 15, 2012
FY2012 First Quarter Results February 15, 2012 AGENDA FY12 Q1 Financial Performance Plans and Expectations Total URC: Margin recovery has started Php Billions First Quarter 2012 (Year on year % change)
More informationSecond Quarter 2010 Earnings Conference Call. 19 May 2010
Second Quarter 2010 Earnings Conference Call 19 May 2010 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More informationFirst Quarter 2018 May 3, 2018
First Quarter 2018 May 3, 2018 Safe Harbor Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements.
More informationFirst Quarter 2010 Earnings Conference Call. 17 February 2010
First Quarter 2010 Earnings Conference Call 17 February 2010 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationQ Conference Call. August 2, 2017
Q2 2017 Conference Call August 2, 2017 Forward Looking Statements This presentation contains forward-looking information regarding future events or the Company s future financial performance based on the
More informationYara International ASA Annual General Meeting. 8 May 2018
Yara International ASA Annual General Meeting 8 May 218 Safe operations is our first priority 5 TRI (Total recordable injuries 12-month rolling) 1 Jan'16 Mar May Jul Sep Nov Jan '17 Mar May July Sep Nov
More informationThird-Quarter Fiscal 2018 Earnings
Third-Quarter Fiscal 2018 Earnings Sam Mitchell, CEO Mary Meixelsperger, CFO Sean Cornett, Director of Investor Relations August 2, 2018 http://investors.valvoline.com Forward-Looking Statements Certain
More informationFirst quarter fiscal 2018
First quarter fiscal 2018 Earnings conference call February 1, 2018 Participants on today s call Suzanne Sitherwood President and Chief Executive Officer Steven L. Lindsey Executive Vice President and
More informationFourth Quarter and Full- Year 2017 Earnings February 1, 2018
Fourth Quarter and Full- Year 207 Earnings February, 208 Forward-Looking Statements Certain statements in these slides and made during this presentation may be considered forward-looking statements. These
More informationWaste Management Announces First Quarter Earnings
FOR IMMEDIATE RELEASE Waste Management Announces First Quarter Earnings Revenue Grows 8.3%, Producing Strong Net Income and Cash Flow Earnings Per Diluted Share Grows More Than 15% HOUSTON April 26, 2017
More informationFinancial Results for Fourth Quarter and Year Ended December 30, Pilgrim s Pride Corporation (NASDAQ: PPC)
Financial Results for Fourth Quarter and Year December 30, 2018 Pilgrim s Pride Corporation (NASDAQ: PPC) Cautionary Notes and Forward-Looking Statements Statements contained in this presentation that
More informationThird Quarter 2017 Business Update. October 26, 2017
Third Quarter 2017 Business Update October 26, 2017 Third Quarter 2017 Results (GAAP Basis) $ in millions, except EPS Q3 % of Q3 % of Increase/ 2017 Sales 2016 Sales (Decrease) Net sales $948.2 $901.4
More informationNon-GAAP Information 5/3/2018
5/3/2018 Use of Non-GAAP Financial Information: The Company believes that non-gaap performance measures, which management uses in evaluating the Company's business, may provide users of the Company's financial
More informationSales $ 407,444 $ 396,064 $ 1,602,580 $ 1,515,608 Cost of sales (258,660) (242,460) (1,021,230) (952,221)
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Dollar amounts in thousands, except per share data) 2018 2017 2018 2017 Sales $ 407,444 $ 396,064 $ 1,602,580 $ 1,515,608 Cost of sales (258,660) (242,460)
More informationNOVEMBER Q15 and 9M15 Results
NOVEMBER 2015 3Q15 and 9M15 Results AGENDA Brazilian Fertilizer Market The Company Financial Highlights Outlook Brazilian Fertilizer Market The Company Financial Highlights Outllok In thousands of metric
More informationFIRST QUARTER Financial Results January 5, 2017
FIRST QUARTER 2017 Financial Results January 5, 2017 Forward Looking Statements Trademarks Trademarks owned by Monsanto Company and its wholly-owned subsidiaries are italicized in this presentation. All
More informationPACCAR Inc SUMMARY STATEMENTS OF OPERATIONS (in millions except per share amounts)
SUMMARY STATEMENTS OF OPERATIONS (in millions except per share amounts) Three Months Ended September 30 Nine Months Ended September 30 Net sales and revenues $ 4,731.5 $ 3,953.2 $ 13,065.1 $ 12,079.6 Cost
More informationQ Supplement. August 6, 2014
Q2 2014 Supplement August 6, 2014 Disclaimer Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking
More informationYara International ASA 3Q17 results roadshow. Svein Tore Holsether, CEO Thor Giæver, SVP Investor Relations
Yara International ASA 3Q17 results roadshow Svein Tore Holsether, CEO Thor Giæver, SVP Investor Relations Safe operations is our first priority 4.5 4. TRI (Total recordable injuries 12-month rolling)
More informationGROWING WORLD 2010 ANNUAL REPORT
GROWING WORLD 2010 ANNUAL REPORT FINANCIAL HIGHLIGHTS 137 138 139 135 3,228 2,354 120 618 1,363 1,208 443 878 521 1,064 778 361 543 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 2006 2007 2008 2009
More informationNutrien s First-Quarter 2018 Impacted by Delayed Spring Season, Expect Strong Second-Quarter Results
NYSE, TSX: NTR May 7, 2018 News Release Nutrien s First-Quarter 2018 Impacted by Delayed Spring Season, Expect Strong Second-Quarter Results Nutrien Ltd. (Nutrien) announced today its 2018 first-quarter
More informationOur Transformation Continues. March 21, 2018
Our Transformation Continues March 21, 2018 Disclosure Regarding Forward-Looking Statements Forward-Looking Statements and Factors That May Affect Future Results: Throughout this presentation, we make
More informationJefferies 2014 Global Industrials Conference. August 11, 2014
Jefferies 2014 Global Industrials Conference August 11, 2014 Disclaimer Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements
More informationAg Growth Announces First Quarter 2016 Results; Declares Dividends
Ag Growth Announces First Quarter 2016 Results; Declares Dividends Winnipeg, MB, May 5, 2016 Ag Growth International Inc. (TSX: AFN) ( AGI or the Company ) today announced its financial results for the
More informationThe Mosaic Company. This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
The Mosaic Company Investor Presentation Third Calendar Quarter, 213 1 Safe Harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act
More informationSUPPLEMENTAL INFORMATION (UNAUDITED) September 30, 2017
SUPPLEMENTAL INFORMATION (UNAUDITED) September 30, 2017 Supplemental Information Description 1 Shareholder Information 2 Cash Results by Business Unit 3 Retail Cash Results by Geography 4 Wholesale Cash
More informationReconciliation of Non-GAAP Measures
Earnings Before Interest, Taxes, Depreciation, Amortization and Goodwill & Intangible Asset Impairment Q4-2015 Q4-2016 Net income applicable to TRC Companies, Inc.'s common shareholders $6.8 $5.9 Interest
More information4Q 2017 Presentation. February 27, 2018
4Q 2017 Presentation February 27, 2018 SAFE HARBOR Statements contained in this presentation that are not historical and reflect our views about future periods and events, including our future performance,
More information2015 Full Year and Fourth Quarter Earnings Call. February 11, 2016
2015 Full Year and Fourth Quarter Earnings Call February 11, 2016 Forward Looking Statements & Non GAAP Measures Certain information discussed today constitutes forward-looking statements. Actual results
More information