Wikimedia, David Shankbone

Bunge Ltd. (BG - Get Report) posted weaker-than-expected fourth quarter earnings Thursday and said it would drop guidance for individual business segments as the agriculture commodity trader continues both a strategic review and a search for a new CEO. 

Bunge said adjusted earnings for the three months ending in December came in at 8 cents per share, down 88% from the same period last year and missing the Street consensus forecast of 20 cents per share. Group revenues, Bunge said, slipped 0.5% to $11.54 billion but were again shy of analysts' estimates of $11.75 billion.

"Although 2018 was a substantially better year than 2017, we are not satisfied with these results, and we know that Bunge has the global assets and people to perform better in the future," said chairwoman Kathleen Hyle. "In the past several months, the Company has taken a number of significant and positive steps to reposition itself for sustainable growth, including announcing a leadership transition and enhancing its leadership team, refreshing our Board and establishing a Strategic Review Committee of the Board."

Bunge shares were marked 5% lower at the opening bell Thursday and marked at $50.09 each, a move that would extend their three-month decline to around 14%.

Bunge also said it would provide "directional guidance" for the company, rather than estimates for earnings in individual segments, starting this year, but noted a broader expectation on capital expenditures of around $550 million, up 11.5% from last year. 

The group also noted $125 million loss in its agribusiness unit, linked in part to demand for Brazilian soybeans that were influenced by U.S. China trade talks.