On May 7, 2025, Bunge Global SA (BG, Financial) released its 8-K filing detailing its first quarter 2025 financial results. Bunge Global SA, formerly Bunge Ltd, is a leading agribusiness and food company with operations spanning the farm-to-consumer food chain. The company operates through segments such as Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy, with the Agribusiness segment generating the most revenue.

Quarterly Performance Overview

Bunge Global SA reported a GAAP diluted earnings per share (EPS) of $1.48, surpassing the analyst estimate of $1.27. However, this reflects a decline from $1.68 in the prior year. The adjusted EPS, excluding certain gains/charges and mark-to-market timing differences, was $1.81, which also exceeded expectations but was down from $3.04 in the previous year. The company's revenue for the quarter was $8,161 million, falling short of the estimated $13,054.02 million.

Segment Performance and Challenges

The Agribusiness segment, a key revenue driver, experienced a decline in net sales to $8,161 million from $9,740 million in the previous year. This was attributed to lower volumes and gross profit, despite solid performance in processing. The Refined and Specialty Oils segment faced challenges due to a more balanced supply and demand environment, particularly in the U.S., influenced by uncertainties in biofuel policies. The Milling segment saw slightly higher results in North America, but these were offset by competitive pricing pressures in South America.

Financial Achievements and Strategic Moves

Bunge Global SA's strategic initiatives included agreements to divest its European margarine and U.S. corn milling businesses, aligning its assets with global value chains. The company is also in the final stages of regulatory approval for its combination with Viterra, which is expected to enhance its market position.

Key Financial Metrics

Net income attributable to Bunge was $201 million, down from $244 million in the previous year. The company's total EBIT was $328 million, with an adjusted total EBIT of $362 million, reflecting a decrease from $676 million in the prior year. Cash used for operations was $285 million, a significant shift from the $994 million provided in the same period last year, primarily due to changes in working capital.

Analysis and Outlook

Bunge Global SA's performance in the first quarter of 2025 reflects a challenging market environment, with lower results in key segments due to competitive pressures and regulatory uncertainties. However, the company's strategic divestitures and pending acquisition of Viterra are expected to strengthen its global value chains and market position. Despite the challenges, Bunge maintains its adjusted full-year EPS outlook of approximately $7.81, indicating confidence in its strategic direction and operational resilience.

Greg Heckman, Bunge’s Chief Executive Officer, commented, “Our team delivered a better than expected start to 2025, staying nimble in a quickly evolving market environment while continuing to serve our customers at both ends of the value chain.”

Explore the complete 8-K earnings release (here) from Bunge Global SA for further details.