Bunge Global Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 results exceeded expectations, driven by strong soybean and soft seed processing, Viterra integration, and robust biofuel demand. Full-year adjusted EPS guidance was raised to $9.00-$9.50, with continued uncertainty from geopolitical and market factors.
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A transformed, integrated global platform is driving higher earnings, with a new mid-cycle EPS baseline of over $15 by 2030, supported by Viterra synergies, disciplined capital allocation, and technology-driven operational excellence. Sustainability, direct origination, and innovation in food, feed, and fuel position the company for long-term growth.
Fiscal Year 2025
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Q4 saw higher segment results and strong synergy capture following the Viterra integration, though reported EPS declined due to notable one-time items. 2026 adjusted EPS is guided at $7.50–$8, with earnings heavily weighted to the second half and upside possible if U.S. biofuel policy is finalized.
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Q3 saw strong adjusted EBIT and stable adjusted EPS, with early benefits from the Viterra integration. Full-year 2025 adjusted EPS is forecast at $7.30–$7.60, with synergy capture expected to accelerate in 2026. Capital allocation remains disciplined, with share buybacks and CapEx focus.
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Integration with Viterra is advancing well, with new segment reporting and expanded disclosures enhancing transparency. Full-year 2025 adjusted EPS is guided at $7.30–$7.60, reflecting minimal synergy capture so far, and significant cost savings are expected in 2026.
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Q2 2025 results exceeded expectations, driven by strong South American processing and successful Viterra integration. Full-year adjusted EPS guidance is maintained at $7.75, with robust liquidity and capital allocation supporting ongoing growth and synergy capture.
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Q1 2025 results exceeded expectations due to activity pull-forward and strong execution, though adjusted EPS and EBIT declined year-over-year. Strategic focus remains on closing the Viterra deal, with portfolio realignment and a new Repsol JV advancing renewable fuels. Guidance for full-year adjusted EPS is reaffirmed at $7.75.
Fiscal Year 2024
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Q4 results were below expectations due to South American challenges, but stabilization is expected in 2025. Full-year adjusted EPS guidance is $7.75, with continued capital returns and major acquisitions nearing completion. CapEx for 2025 is reduced to $1.5–$1.7 billion.
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Q3 results exceeded expectations with strong execution and progress on the Viterra merger. Adjusted EPS guidance for 2024 is at least $9.25, with robust cash flow, disciplined capital allocation, and continued global demand for soy products despite policy uncertainties.
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Q2 2024 saw lower earnings year-over-year, with Adjusted EPS at $1.73 and solid segment performance in Europe and South America. Full-year Adjusted EPS is forecast at $9.25, with strong liquidity and ongoing integration of Viterra and divestment of non-core assets.