Bunge Reports Second Quarter 2023 Results%

Bunge Limited (NYSE: BG) today reported second quarter 2023 results

• Q2 GAAP diluted EPS of $4.09 vs. $1.34 in the prior year; $3.72 vs. $2.97 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences
• Agribusiness results driven by strong execution throughout the value chains
• Strong Refined and Specialty Oils performance in line with last year
• Accelerated strategy with agreement to combine with Viterra
• Increasing full-year adjusted EPS outlook to at least $11.75 per share

Overview

Greg Heckman, Bunge’s Chief Executive Officer, commented, “We delivered strong results as we successfully navigated a highly dynamic quarter through agility and discipline, capturing opportunities while continuing to serve our customers at both ends of the value chain. Our team remained flexible, leveraging our global footprint and connectivity to optimize margins and utilization as market conditions evolved over the quarter.

“We look forward to our announced combination with Viterra, which will accelerate our strategy to bring us even closer to farmers with expanded direct origination, while also broadening our global processing and distribution network to better serve our consuming customers. We continue to execute on our strategic priorities, with a focus on driving further adoption of sustainable practices in global food, feed and fuel production including low-carbon product streams, regenerative agriculture, and end-to-end traceability across major crops. With enhanced capabilities, a world-class team and a strong balance sheet, we are well positioned to create value for all our stakeholders.” 

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