Bunge reduces profit in 2025

Bunge Global SA reported a decline in profit in 2025, despite operational improvements and increased volumes across all supply chains. GAAP diluted earnings per share closed the year at US$4,93, compared to US$7,99 in 2024. On an adjusted basis, EPS totaled US$7,57, down from US$9,19 a year earlier. In the fourth quarter, GAAP EPS was US$0,49, compared to US$4,36 a year earlier. On an adjusted basis, it was US$1,99, slightly below US$2,13.

The company attributed the performance to mark-to-market effects, corporate costs, and a high comparative base. Even so, adjusted EBIT grew in the fourth quarter across all segments, supported by disciplined execution and asset expansion following the merger with Viterra.

In consolidated terms, adjusted EBIT totaled US$2,03 billion in 2025, slightly above US$2,02 billion in 2024. Operating cash flow fell to US$844 million, reflecting lower reported profit and changes in working capital. Adjusted operating funds reached US$1,73 billion, higher than the previous year.

Soybean processing

Soybean processing is projected to reach 41,0 million tons in 2025. The segment's adjusted EBIT reached US$1,33 billion. South America drove the results, with improved industrial performance in Argentina and Brazil. Expanded capacity increased processed and traded volumes.

In turn, softseed processing rose to 10,75 million tons. Adjusted EBIT totaled US$580 million. Higher average margins and the incorporation of softseed assets supported the growth. Canada, Europe, and Argentina expanded capacity and origination.

Adjusted EBIT reached US$168 million in the "other oilseeds" category. Specialty oils gained strength in Asia and North America. Global oil trading contributed to the result.

Grains

Sales and milling totaled 67,2 million tons in 2025. Adjusted EBIT reached US$386 million. Wheat and barley drove performance. Corn and ocean freight limited gains. The sale of the corn milling business altered the comparative basis.

In the corporate sector, expenses increased due to the integration of Viterra. The quarter included one-off effects, such as a pension agreement and integration costs.

Prospects for 2026

For 2026, Bunge projects adjusted EPS between US$7,50 and US$8,00. The company estimates an adjusted effective rate between 23% and 27%, investments of US$1,5 to US$1,7 billion, and depreciation of approximately US$975 million. Management points to a more balanced portfolio, greater global reach, and diversified supply chains for risk management in volatile environments.