Bunge Global Ltd

BG

Equity

ISIN CH1300646267 / Valor 130064626

New York Stock Exchange, Inc (2024-11-21)

USD 88.37+0.33%

Bunge Global Ltd
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About company

Bunge Global Ltd, a publicly traded company listed on the NYSE under the ticker symbol BG, is a leading global agribusiness and food company. The company operates in various segments, including oilseed processing, grain trading, and food processing. Recently, Bunge announced a joint venture with Chevron to build a new oilseed processing plant in Louisiana, showcasing its commitment to expanding its operations and meeting the growing demand for renewable fuels. With a strong presence in the industry, Bunge continues to innovate and invest in strategic partnerships to drive growth and sustainability in the agribusiness sector.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

EPS Performance

Bunge Global Ltd reported a significant drop in its GAAP diluted EPS for the second quarter of 2024, which stood at $0.48 compared to $4.09 in the same quarter of the previous year. On an adjusted basis, excluding certain gains, charges, and mark-to-market timing differences, the EPS was $1.73, down from $3.72 in Q2 2023.

Agribusiness Segment

The Agribusiness segment of Bunge Global Ltd experienced lower results in the second quarter of 2024, reflecting a more balanced global supply environment. The segment's net sales decreased to $9,657 million from $10,875 million in the same period last year, and its gross profit dropped to $289 million from $997 million.

Refined and Specialty Oils

Despite performing well, the Refined and Specialty Oils segment of Bunge Global Ltd saw a decline in results compared to a strong prior year. The segment's net sales for Q2 2024 were $3,121 million, down from $3,601 million in Q2 2023, while the gross profit slightly decreased to $315 million from $333 million.

Updated Full-Year EPS Outlook

Bunge Global Ltd has updated its adjusted full-year EPS outlook to approximately $9.25. This revision reflects the company's current market conditions and strategic priorities, including the announced sale of its interest in the BP Bunge Bioenergia joint venture and the ongoing integration planning for Viterra.

Corporate and Other Expenses

The Corporate and Other segment of Bunge Global Ltd reported a decrease in expenses for the second quarter of 2024. The segment's adjusted EBIT was $62 million, up from $42 million in the same quarter of the previous year, primarily due to lower performance-based compensation and higher results related to the company's captive insurance program.

Summarized from source with an LLMView Source

Key figures

-18.3%1Y

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Performance

24.4%1Y

24.2%3Y

24.2%5Y

Volatility