Bunge SA(US:BG)2026-02-04 11:21Earnings Performance - Full-year GAAP diluted EPS decreased to $4.93 from $7.99 in the prior year, with adjusted EPS at $7.57 compared to $9.19[3] - Q4 GAAP diluted EPS was $0.49, down from $4.36 in the prior year, while adjusted EPS was $1.99 versus $2.13[3] - For the year ended December 31, 2025, Bunge reported a net income attributable to shareholders of $93 million, compared to a net loss of $14 million in 2024, resulting in a diluted earnings per share of $0.55 versus a loss of $0.10 in the previous year[39] - Adjusted Net income per share from continuing operations for the year 2025 was $7.57, down from $9.19 in 2024[61] Net Income and Sales - Net income attributable to Bunge for Q4 2025 was $95 million, a significant drop from $602 million in Q4 2024; full-year net income was $816 million compared to $1,137 million in 2024[4] - Total net sales for 2025 reached $70.329 billion, a significant increase from $53.108 billion in 2024, reflecting a growth of approximately 32.4% year-over-year[50] Operational Performance - Soybeans processed increased to 11,460 thousand metric tons in Q4 2025 from 9,645 thousand metric tons in Q4 2024, with net sales rising to $11,045 million from $8,374 million[9] - Softseeds processed rose to 3,481 thousand metric tons in Q4 2025 from 2,410 thousand metric tons in Q4 2024, with net sales increasing to $4,545 million from $1,808 million[11] - Grain merchandising volumes surged to 26,194 thousand metric tons in Q4 2025 from 8,344 thousand metric tons in Q4 2024, with net sales reaching $6,982 million compared to $2,242 million[15] EBIT and Financial Metrics - Corporate EBIT for the quarter ended December 31, 2025, was $(315) million, compared to $(164) million in the same quarter of 2024[17] - The company's EBIT for 2025 was $1.533 billion, down from $1.792 billion in 2024, indicating a decline of about 14.5%[50] - Total EBIT for Q4 2025 was $264 million, a decrease of 65.5% from $767 million in Q4 2024[61] - Adjusted Total EBIT for the year ended December 31, 2025, was $2,034 million, slightly up from $2,017 million in 2024[61] Cash Flow and Capital Expenditures - Cash provided by operating activities decreased to $844 million in 2025 from $1,900 million in 2024, primarily due to lower net income[18] - The company anticipates capital expenditures in the range of $1.5 to $1.7 billion for 2026[20] - Cash provided by operating activities for the year ended December 31, 2025, was $844 million, a decrease from $1,900 million in 2024[66] Corporate Expenses and Liabilities - Selling, general and administrative expenses increased to $2.113 billion in 2025 from $1.776 billion in 2024, reflecting a rise of approximately 18.9%[50] - Bunge's total liabilities rose to $27.106 billion in 2025, up from $13.950 billion in 2024, indicating an increase of about 94.5%[51] - The increase in Corporate expenses was primarily driven by the addition of Viterra, impacting overall financial results[17] Future Outlook - The company anticipates sharing more details on long-term outlook and capital allocation priorities at the Investor Day on March 10[2] - The company expects full-year 2026 adjusted EPS to be in the range of $7.50 to $8.00[20] - The projected Adjusted Net income per share for 2026 is provided without reconciliation to projected Net Income per share due to uncertainties in market price movements[59] Acquisitions and Investments - The company incurred $4.201 billion in acquisitions of businesses in 2025, marking a significant investment in growth strategies[53] - The integration of Viterra is expected to yield operational and commercial synergies, strengthening Bunge's market position[2] Tax and Other Income - The adjusted effective income tax rate for the full year was approximately 23% for both 2025 and 2024[19] - The company recorded a $(119) million net other income for the quarter ended December 31, 2025, compared to $206 million in 2024[16] - Certain gains and charges for the quarter included a $200 million gain, impacting overall net income[16]