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 ...

_ .. | --- | --- | --- | --- | |------------------|-------|-------|-------| | | | | | | Q3 2024 Earnings | | | | | Results Review | | | | | | | | | | October 30, 2024 | | | | 2 • Today's presentation includes forward-looking statements that reflect Bunge's current views with respect to future events, financial performance and industry conditions. 2 Forward-Looking Statements • These forward-looking statements are subject to various risks and uncertainties. Bunge has provided additional information in its re ...

BUNGE Bunge Reports Third Quarter 2024 Results St. Louis, MO - October 30, 2024 - Bunge Global SA (NYSE: BG) today reported third quarter 2024 results | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | • | Q3 GAAP diluted EPS of $1.56 vs. $2.47 in the prior year; $2.29 vs. $2.99 on an adjusted basis excluding certa ...

The Hecht Commodity Report is one of the most comprehensive commodities reports available today from a top-ranked author in commodities, forex, and precious metals. My weekly report covers the market movements of over 29 different commodities and provides bullish, bearish, and neutral calls, directional trading recommendations, and actionable ideas for traders and investors. I am offering a free trial and a discount to new subscribers for a limited time.He runs the investing group The Hecht Commodity Report ...

The Zacks Agriculture - Products industry has been bearing the brunt of high input costs, labor shortages and supply-chain headwinds. The decline in commodity prices adds to the concerns. Nevertheless, increasing consumer awareness regarding food ingredients and the preference for healthier alternatives will support the industry. Alternative agricultural technologies like hydroponics and vertical farming are expected to be other key catalysts, given their inherent benefits.Players like Bunge (BG) , West Fra ...

Group 1: Company Strategy and Transactions - Bunge Global SA has completed the sale of its 50% share in BP Bunge Bioenergia to BP plc for $800 million, marking its exit from the bioenergy and sugarcane ethanol business in Brazil [1][3] - The joint venture BP Bunge Bioenergia was established in 2019 and operates 11 mills across Brazil [2] Group 2: Financial Performance - Bunge Global reported Q2 2024 adjusted earnings of $1.73 per share, missing the Zacks Consensus Estimate of $1.79, and reflecting a 53% year-over-year decline [4] - Net sales for Q2 2024 were $13.2 billion, down 12% from the previous year, and also missed the consensus estimate of $13.69 billion [4] - The decline in Agribusiness results was attributed to a 15% decrease in Processing net sales due to lower average sales prices in global soybean oilseed processing [5] Group 3: Future Outlook - Bunge Global expects adjusted earnings per share to be approximately $9.25 in 2024, indicating a 32% decline from 2023 [6] - The merger with Viterra, announced in June 2023, is progressing well and is expected to enhance Bunge Global's global network and operational efficiency [7][8] Group 4: Market Performance - Bunge Global's shares have declined 7.6% over the past year, contrasting with the industry's 8% growth [10]

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial . While I am writing this, the index is up 18.9% year-to-date, beating the 11.6% return of the Dow Jones and the 15.5% return of the Nasdaq 100. Analyst's Disclosure: I/we have a beneficial long position in the shares of DE either through stock ownership, options, or other deriva ...