Companies Release Third Quarterly Results - Research Reports on Avon, BorgWarner, Kellogg, Hanes and Bunge

NEW YORK, November 4, 2014 /PRNewswire/ --

Today, Analysts Review released its research reports regarding Avon Products, Inc. (NYSE: AVP), BorgWarner Inc. (NYSE: BWA), Kellogg Company (NYSE: K), HanesBrands Inc. (NYSE: HBI) and Bunge Ltd. (NYSE: BG). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/7685-100free.

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Avon Products, Inc. Research Reports
On October 30, 2014, Avon Products, Inc. (Avon) reported Q3 2014 financial results. Total revenue for the quarter came in at $2.1 billion, down 8.0% YoY, and also lagged Zacks consensus estimate of $2.2 billion. In terms of region, Latin American sales were $1.1 billion and $620.0 million from Europe, Middle East & Africa. According to Avon, adjusted gross margin was 110 basis points lower than Q3 2013, primarily due to the unfavorable impact of foreign exchange driven by Europe, Middle East & Africa and Latin America, and higher supply chain costs, primarily from high-inflation countries. This was partially offset by the favorable net impact of mix and pricing, primarily due to inflationary pricing in Latin America. Adjusted net income from continuing operations was $99 million, or $0.23 per diluted share, significantly ahead of Zacks estimate of 16 cents. The full research reports on Avon are available to download free of charge at:

http://www.analystsreview.com/Nov-04-2014/AVP/report.pdf

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BorgWarner Inc. Research Reports
On October 30, 2014, BorgWarner Inc. (BorgWarner) reported stronger-than-expected Q3 2014 financial results, but lowered 2014 earnings guidance. The Company reported net sales of $2.0 billion, up 12.5% YoY. On a segment wise basis, the engine segment posted revenue of $1.4 billion, up 16.7% YoY, whereas its drivetrain segment recorded an increase of 3.8% YoY in revenues at $627 million. Excluding one-time items, BorgWarner's EPS of 79 cents narrowly beat expectations of 78 cents per share by analysts polled by Thomson Reuters I/B/E/S. The Company lowered its 2014 guidance and now expects sales to increase 12% to 13%, over 2013, down from previously forecasted 13% to 15%. The Company forecasts its diluted EPS to range from $3.23 to $3.28 as against its previous guidance of $3.25 to $3.35. Shares of BorgWarner fell 4.38% the same day to end at $54.37. The full research reports on BorgWarner are available to download free of charge at:

http://www.analystsreview.com/Nov-04-2014/BWA/report.pdf

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Kellogg Company Research Reports
On October 30, 2014, Kellogg Company (Kellogg) reported its Q3 FY 2014 earnings (period ended September 27, 2014). The Company posted net sales of $3.64 billion, down 2.1% YoY with operating profit of $365 million, down 27.6% YoY. Net income attributable to Kellogg fell to $224 million, or $0.62 per share, from $326 million, or $0.90 per share, in the year ago period. Excluding one-time items, earnings were $0.94 per share, slightly ahead of the Company's own expectations. Analysts on average had expected earnings of $0.92 cents per share on revenue of $3.69 billion, according to Thomson Reuters I/B/E/S. The Company reiterated its currency-neutral guidance for FY 2014. Kellogg expects a FY 2014 EPS range including the impact of the 53rd week and currency translation of between $3.88 and $3.96. The full research reports on Kellogg are available to download free of charge at:

http://www.analystsreview.com/Nov-04-2014/K/report.pdf

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HanesBrands Inc. Research Reports
On October 29, 2014, HanesBrands Inc. (Hanes) announced its Q3 FY 2014 financial results (period ended September 27, 2014). Net sales increased 17.0% YoY to $1.40 billion. The innerwear segment sales came in at $648.3 million, up 15.7% YoY due to the Company's recent acquisition of Maidenform business. The Company has also completed the acquisition of DBApparel on August 29, 2014. According to the Company, these acquisitions led to an increase in the Company's International Segment sales to $215.0 million, up 62.7% YoY, in Q3 FY 2014. HanesBrands EPS of $1.73 beat the Zacks consensus estimate by a penny, and were up 40.7% YoY. For FY 2014, the Company increased its previous guidance for adjusted EPS from $5.40 and $5.60 to $5.55 and $5.65 and predicted net sales to be approximately $5.35 billion to $5.38 billion. The full research reports on Hanes are available to download free of charge at:

http://www.analystsreview.com/Nov-04-2014/HBI/report.pdf

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Bunge Ltd. Research Reports
On October 30, 2014, Bunge Ltd. (Bunge) reported lower than estimated earnings and revenue for Q3 2014. The Company reported adjusted EPS of $1.31, lower than the analysts' estimate of $1.90. Revenues for the quarter came in at $13.7 billion, down 7.0% YoY, and below analyst consensus estimates of $15.3 billion. According to the Company, Bunge's quarterly performance was affected by the slow farmer selling driven by the significant drop in commodity prices. The Company's Agribusiness division contributed 71.9% to the total sales with $9.8 billion, but recorded a 8.2% YoY decline in its sales. On the other hand, its milling products segment reported 6.0% YoY increase in its net sales, which was reported as $516 million. As per the Company, this increase reflects Bunge's improved performance in Brazilian wheat milling business, which was led by improved margins and production yields, and the addition of new wheat mills in Mexico. The full research reports on Bunge are available to download free of charge at:

http://www.analystsreview.com/Nov-04-2014/BG/report.pdf

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