Bunge Boosts FY22 EPS Outlook Citing Solid Q2 Results, Current Market Environment

  • Bunge Ltd BG reported second-quarter FY22 sales growth of 16.5% year-on-year, to $17.93 billion, beating the consensus of $16.81 billion.
  • Net sales from the Agribusiness segment improved 9.4% to $12.7 billion, and Refined & Specialty Oils jumped 39% to $4.4 billion.
  • Gross profit increased 16.1% Y/Y to $772 million. Adjusted total segment EBIT amounted to $623 million, a 22.4% Y/Y increase.
  • The company held $823 million in cash and equivalents as of June 30, 2022.
  • Adjusted EPS for the quarter was $2.97 versus $2.61 last year.
  • Outlook: Bunge increased its FY22 EPS outlook to reflect Q2 results and the current market environment. It expects FY22 adjusted EPS to be at least $12 (prior view at least $11.50). 
  • The company also introduced an earnings framework of approximately $11 per share by the end of 2026, building on an increased earnings baseline of $8.50, plus future investments and share repurchases.
  • Price Action: BG shares are trading lower by 4.91% at $90.65 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!