Bunge releases results for the first quarter of 2024

Bunge Global SA, a company listed on the NYSE under the code BG, released results for the first quarter of 2024. Diluted earnings per share (EPS), under generally accepted accounting principles (“GAAP”), was US$1,68, 4,15, down from $3,04 a year ago. Excluding special items, adjusted earnings per share (“EPS”) was $3,26, compared to $XNUMX in the same period last year.

The company observed mixed results in its operations, with gains in processing in the agribusiness segment, which did not compensate for the declines in sales. Refined and specialty oils underperformed the strong previous year. Significant progress has been made on integration with Viterra and other growth initiatives. The company also repurchased $400 million in shares and maintained its full-year adjusted profit forecast at approximately $9 per share.

Greg Heckman (in the photo), CEO of Bunge, commented on the quarter's results, highlighting the team's good execution in a more balanced market environment. The company continues to invest in its pipeline of growth projects and has advanced its integration with Viterra.

Despite a positive start, visibility for the second half of the year is limited. However, Heckman shows confidence in the team's ability to adapt and seize future opportunities while remaining focused on the company's mission of connecting farmers with consumers to provide the world with essential food, feed and fuel.