What happened

Shares of Bunge Ltd. (NYSE:BG) rose 10% on Wednesday after the agribusiness and food company released strong fourth-quarter 2016 results.

So what

Quarterly revenue grew 8.6% year over year, to $12.1 billion, and translated to 14.1% growth in adjusted earnings per share, to $1.70. Analysts, on average, were only expecting Bunge to report revenue of $11.4 billion and adjusted earnings of $1.57 per share.

 
Pies made with Bunge pie shortening.

IMAGE SOURCE: Bunge Ltd.

Bunge CEO Soren Schroder elaborated:

Bunge had a solid fourth quarter to end a challenging year. Higher Food & Ingredients and Sugar & Bioenergy results in 2016 reflect our team's hard work to drive structural improvements to increase the underlying competitiveness of our businesses. Agribusiness faced a very competitive global market environment, but finished strong.  

Now what

Looking forward, Bunge CFO Thomas Boehlert also stated that the company's full-year 2017 outlook "remains largely consistent with the assumptions that we provided at our December investor day." More specifically, Bunge expects full-year earnings before interest and taxes (EBIT) to be $895 million to $1.05 billion in agribusiness, $270 million to $290 million at food and ingredients, $100 million to $200 million in sugar and bioenergy, and $30 million in fertilizer. 

In the end, this was a strong performance for the company despite operating in a difficult industry environment. Management provided an encouraging reiterated outlook with no big surprises. So it's no surprise to see Bunge shares trading higher today.

Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.