Bunge Reports Fourth Quarter and Full-Year 2024 Results St. Louis, MO - February 5, 2025 - Bunge Global SA (NYSE: BG) today reported fourth quarter and full- year 2024 results. Ø Overview Greg Heckman, Bunge's Chief Executive Officer, commented, "Our team closed out a year of significant achievements for Bunge. We made great progress on integration planning for our announced combination with Viterra and, having received the vast majority of regulatory approvals, we expect to close the transaction soon. We c ...

Bunge Global SA (BG) is scheduled to report fourth-quarter 2024 results on Feb. 5, before market open.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for BG’s fourth-quarter sales is pegged at $12.8 billion, indicating a 14.3% decline from the prior-year quarter’s reported figure.The consensus mark for earnings is pegged at $2.30 per share, indicating a year-over-year plunge of 37.8%. Earnings estimates have been unchanged in the past 30 days.  Image Sourc ...

Bunge Global (BG) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 5. ...

Merger Approval and Terms - The merger between Bunge and Viterra was announced in June 2023 and unanimously approved by both boards of directors [1] - Bunge's shareholders approved the merger in October 2023, including the issuance of 65,611,831 common shares and the relocation of the parent company from Bermuda to Switzerland [1] - The Canadian government approved the merger with conditions to protect competition, encourage investment, and secure economic benefits for Canada [10] - The merged entity will be one of the world's largest agribusiness companies worth $34 billion, including debt, with the merger expected to close in early 2025 [10] Conditions and Divestitures - Bunge must divest six grain elevators in Western Canada to maintain competitive options for farmers [7] - The company is required to invest at least $520 million in Canada within the next five years [7] - Strict controls are imposed on Bunge's minority stake in G3 to prevent influence over G3's pricing or investment decisions [7] - A price protection program will be implemented for canola oil purchasers in Central and Atlantic Canada to ensure fair pricing and market stability [2] - Viterra's head office must remain in Regina for at least five years to protect Canadian jobs [2] Financial and Operational Impact - The merger is expected to generate $250 million in annual gross pre-tax operational synergies within the first three years [12] - The transaction is anticipated to be accretive to Bunge's adjusted earnings per share in the first full year post-closing, with further improvements as synergies are realized [12] - Bunge's shares have lost 14% over the past year, underperforming the industry's 1.7% growth [3] Market and Competitive Concerns - The Canadian Competition Bureau identified localized concerns regarding canola purchases in Nipawin, SK, and Altona, MB, as well as canola oil sales to a small segment of customers in Eastern Canada [14] - The Bureau concluded that there are no specific competition concerns for grain purchasing in Eastern Canada and most of Western Canada, or for the sale of the majority of downstream refined and specialty oil products [4] Strategic Benefits of the Merger - The merged entity will have an enhanced global network with a diversified agriculture portfolio covering all major crops [5] - The combination of complementary assets and distribution networks will connect major production regions to areas of fastest-growing demand, improving geographical balance and adaptability of global value chains [5] - The merger will enhance Bunge's innovation capabilities, addressing food security, market access for farmers, and sustainable food, feed, and renewable fuel production [15] - Significant incremental network synergies are expected from joint commercial excellence opportunities, vertical integration efficiencies, and improved logistics optimization [15] Stock Performance and Alternatives - Bunge currently carries a Zacks Rank 4 (Sell) [6] - Better-ranked stocks in the basic materials space include Carpenter Technology Corporation (Zacks Rank 1), International Paper Company (Zacks Rank 1), and Fortuna Mining Corp. (Zacks Rank 2) [6] - Carpenter Technology's shares have surged 198.5% in the past year, with a Zacks Consensus Estimate for fiscal 2025 earnings of $6.77 per share, indicating 42.8% year-over-year growth [16] - International Paper's shares have gained 49% in the past year, with a Zacks Consensus Estimate for 2025 earnings of $3.02 per share, reflecting a 156% year-over-year increase [16] - Fortuna Mining's shares have risen 24% in the past year, with a Zacks Consensus Estimate for 2025 earnings of 56 cents per share, indicating a 17.7% year-over-year rise [13]

Disclosure and Ownership - The author holds a beneficial long position in shares of YARIY and UPMKF through stock ownership, options, or other derivatives [1] - The author owns European/Scandinavian tickers (not ADRs) of all European/Scandinavian companies mentioned in the articles [2] - The author owns Canadian tickers of all Canadian stocks discussed in the articles [2] Investment Considerations - Investing in European/Non-US stocks involves withholding tax risks specific to the company's domicile and the investor's personal situation [2] - Investors should consult a tax professional regarding the impact of dividend withholding taxes and potential mitigation strategies [2] General Disclaimer - The article is not financial advice, and the author is not a CFA or licensed to provide financial advice [2] - Investors are expected to conduct their own due diligence and research before making any investment decisions [2] - Short-term trading, options trading, and futures trading are considered high-risk investment styles and may not be suitable for investors with limited capital or experience [2]

Last year, I covered the agricultural commodity giant Archer-Daniels-Midland (NYSE: ADM ) in " Archer-Daniels-Midland: The Global Food Supply Chain May Remain Tumultuous. " My outlook was neutral, seeing that although its valuation was low and could grow long-term, it faced notableHarrison is a financial analyst who has been writing on Seeking Alpha since 2018 and has closely followed the market for over a decade. He has professional experience in the private equity, real estate, and economic research indus ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------|------------------------- ...

Financial Data and Key Metrics Changes - Reported third quarter earnings per share (EPS) was $1.56 compared to $2.47 in the third quarter of 2023, with adjusted EPS at $2.29 versus $2.99 in the prior year [13] - Adjusted core segment earnings before interest and taxes (EBIT) was $561 million in the quarter, down from $735 million last year [14] - The first nine months of the year reported income tax expense was $236 million compared to $495 million in the prior year, primarily due to lower pre-tax income [18] Business Line Data and Key Metrics Changes - In agribusiness, processing results were $291 million, down from last year, as higher results in South American and European soy crush were offset by lower results in North America, European soft seeds, and Asia [14] - In merchandising, improved performance in financial services, ocean freight, and global oils businesses offset lower results in global grades [15] - In milling, slightly higher results in North America were offset by lower results in South America due to higher raw materials costs [16] Market Data and Key Metrics Changes - The company noted good demand for soybean meal globally, particularly in the U.S. and Europe, while Argentina faced margin challenges [33] - The U.S. market is seeing strong soybean meal demand, supported by lower shipments from South America [33] - The company expects full year 2024 adjusted EPS to be at least $9.25, reflecting a better than expected third quarter but down compared to last year [24] Company Strategy and Development Direction - The company is making progress on the integration planning for the combination with Viterra, expecting to close the transaction later this year or early 2025 [9][10] - The company is focused on continuous improvement and strengthening operations to provide quality products and services [28] - The combination with Viterra is expected to accelerate diversification across assets, geographies, and crops, enhancing the company's ability to address food security needs [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for meal and oil, with good livestock economics supporting meal demand [33] - The company anticipates that the current margin environment will continue for the rest of the year, with expectations for adjusted EPS to be at least $9.25 [12][24] - Management remains positive about the resolution of U.S. policy uncertainties affecting fuel demand, expecting improvements in the renewable feedstock market [46] Other Important Information - The company repurchased $200 million of its shares since the last call, making progress against its repurchase plan [11] - The company generated approximately $1.3 billion of adjusted funds from operations year to date, with $988 million of discretionary cash flow available [20] - The trailing 12 months adjusted return on invested capital (ROIC) was 13.8%, well above the weighted average cost of capital of 7.7% [23] Q&A Session Summary Question: Thoughts on crush margins and durability - Management noted good demand for meal and oil, with livestock economics being supportive, particularly in the U.S. and Europe, while Argentina faced challenges [33] Question: Changes to Q4 assumptions - Management indicated that they may have pulled some earnings from Q4 into Q3 due to strong performance and the sale of sugar impacting forecasts [35] Question: Customer demand on the fuel side - Management clarified that soybean purchases remain strong, contrary to reports, and expressed optimism about global demand despite U.S. policy uncertainties [44] Question: Viterra's impact on long-term earnings power - Management remains confident in the combination with Viterra, emphasizing the long-term growth opportunities it presents [51] Question: Farmer selling pace in South America - Management expects farmer selling to pick up in the first half of 2025 as producers gain confidence from policy clarity and good crop conditions [57] Question: Growth capex and project timelines - Management indicated that key growth projects are expected to be commissioned in late 2025 to early 2026, with material contributions to EBITDA anticipated thereafter [59] Question: Impact of refined oil market - Management noted that refined and specialty oils have been resilient, with expectations for better performance than baseline in 2025 [71]

For the quarter ended September 2024, Bunge Global (BG) reported revenue of $12.91 billion, down 9.3% over the same period last year. EPS came in at $2.29, compared to $2.99 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $12.68 billion, representing a surprise of +1.84%. The company delivered an EPS surprise of +5.05%, with the consensus EPS estimate being $2.18. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Bunge Global (BG) came out with quarterly earnings of $2.29 per share, beating the Zacks Consensus Estimate of $2.18 per share. This compares to earnings of $2.99 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 5.05%. A quarter ago, it was expected that this agribusiness and food company would post earnings of $1.79 per share when it actually produced earnings of $1.73, delivering a surprise of -3.35%. Over the last four quart ...