Despite a worsening coronavirus pandemic that has rattled global markets, strong soy processing margins in South America, Europe and Asia and accelerated crop sales by farmers in Brazil and the United States helped lift earnings.

“These results would be strong in any environment, let alone a pandemic,” Chief Executive Greg Heckman said in a statement.

Bunge’s strong second quarter, following a surprise loss in the first, highlighted the disruption the agribusiness industry has faced during the pandemic.

Shuttered restaurants and food service companies, both major customers for Bunge’s cooking oils, have shifted demand to more at-home dining, while travel restrictions hammered biofuel production margins.

Bunge said its facilities worldwide continue to operate at or near-normal levels despite the pandemic. Operations at an Argentine port facility were suspended this week after a worker tested positive for COVID-19, prompting Bunge to shift soybean deliveries to its other locations.

Operating earnings in Bunge’s agribusiness segment, its largest unit in terms of revenues and volumes, grew four-fold in the second quarter, triggering the improved 2020 outlook. Edible oils, milling and fertilizer units also posted gains, while sugar and bioenergy turned in a quarterly loss.

The oils segment, however, will continue to face challenges from uncertain demand due to the pandemic, Bunge said.

Net income available to shareholders was $521 million, or $3.47 per share, in the three months ended June 30, compared with $214 million or $1.43 per share, a year earlier.

Excluding items, the company earned $3.88 per share, above analysts’ average estimate of $1.32 per share, according to IBES data from Refinitiv.

Revenue of $9.46 billion missed estimates of $9.70 billion.

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Big fast food chains, including McDonald’s and KFC owner Yum Brands, have been aggressively expanding their international operations to counter slowing growth in the U.S.

Toronto-based Restaurant Brands, the owner of Burger King, Tim Hortons and Popeyes Louisiana Kitchen, has been looking to boost its businesses by deploying various initiatives that range from app-based ordering to loyalty programs for its customers.

The company, which held its first-ever investor day on Wednesday, did not immediately respond to a request for investment details of its expansion program.

Restaurant Brands, which has been hit by a slowdown at its three iconic brands, hopes to grow its coffee, burger and chicken markets by five to six per cent annually over the next five years.

Last month, the company reported a 0.6 per cent drop in comparable sales at Tim Hortons for the quarter ended March 31, while same-store sales at Burger King grew 2.2 per cent, down from 3.8 per cent a year earlier.

The announcement of the ambitious expansion plan comes just months after Jose Cil took the helm at the company, after having headed its Burger King unit.

Rival Yum Brands opened 372 new KFC outlets in 46 countries in the first quarter ended March, while McDonald’s plans on opening roughly 1,200 restaurants worldwide this year.

Tim Hortons, Restaurant Brands’ coffee and doughnut chain, also said it would introduce three new sandwiches using the vegan burger maker Beyond Meat’s plant-based sausages as demand for vegan alternatives grows in the country.

Shares of Restaurant Brands, which have risen nearly 26 per cent this year, were up marginally at $89.67 on the TSX late Friday afternoon.

— Reporting for Reuters by Shradha Singh in Bangalore.

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