Bunge Q3 Earnings Top Estimates; Raises FY22 Outlook

by Shivani Kumaresan, Benzinga Staff Writer

October 26, 2022 9:20 AM | 1 min read |

Bunge Ltd BG reported third-quarter FY22 sales growth of 18.7% year-on-year to $16.76 billion, beating the consensus of $16.68 billion.
Net sales from the Agribusiness segment improved 19% to $11.7 billion, and Refined & Specialty Oils grew 17.9% to $4.3 billion.
Gross profit increased 3% Y/Y to $888 million. Adjusted total segment EBIT amounted to $691 million, a 3% Y/Y increase.
The company held $956 million in cash and equivalents as of September 30, 2022.
Adjusted EPS of $3.45 beat the analyst consensus of $2.47.
Outlook: Bunge raised the FY22 adjusted EPS outlook to at least $13.50 (prior view at least $12), against the consensus of $12.71.
Bunge expects to incur capital expenditures of $600 million.
Price Action: BG shares are trading higher by 4.65% at $96.25 in premarket on the last check Wednesday.