Bunge reports first quarter 2024 results

On April 24, 2024, Bunge Global SA (NYSE: BG) reported first quarter 2024 results

• Q1 GAAP diluted EPS of $1.68 vs. $4.15 in the prior year; $3.04 vs. $3.26 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences

• In Agribusiness higher Processing results were more than offset by lower results in Merchandising

• Refined and Specialty Oils down from a strong prior year

• Significant progress on Viterra integration planning and other growth initiatives

• Repurchased $400 million of shares during the quarter

• Maintaining adjusted full-year EPS outlook of approximately $9.00

Overview

Greg Heckman, Bunge’s Chief Executive Officer, commented, ″We are pleased with our first quarter results, which reflect our team’s strong execution in a more balanced market environment.  During the quarter we invested further in our pipeline of growth projects and made excellent progress on integration planning for our announced combination with Viterra.″

″While we are off to a strong start, we continue to have limited visibility into the back half of the year. However, we are confident in our team’s ability to stay agile and capture opportunities ahead of us as we remain focused on delivering on our mission of connecting farmers to consumers to deliver essential food, feed and fuel to the world.″ 

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