- Bunge Ltd BG reported first-quarter FY22 sales growth of 22.5% year-on-year to $15.88 billion, beating the consensus of $14.80 billion.
- Net sales from the Agribusiness segment improved 14.7% to $11.23 billion, and Refined & Specialty Oils jumped 45.9% to $3.97 billion.
- Gross profit increased 5% Y/Y to $1.2 billion. Adjusted total segment EBIT amounted to $800 million, a 19.2% Y/Y increase.
- The company held $406 million in cash and equivalents as of March 31, 2022.
- Adjusted EPS of $4.26 beat the analyst consensus of $2.94.
- Outlook: Bunge raised the FY22 adjusted EPS outlook to at least $11.50 (prior view at least $9.50), against the consensus of $11.04.
- Bunge expects to incur capital expenditures of $650 million - $750 million.
- Price Action: BG shares are trading higher by 0.12% at $115 in premarket on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
