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Bunge Ltd Posts Profit in Q3

10/31/2020

In an October 28th release, Bunge Ltd (BG) reported on Q3 of FY 2020 ending September 30th. Bunge posted net earnings of $274 million on revenue of $10.16 Billion with an EPS of $1.84.  Comparative figures for Q3 of FY2019 were a loss of $1.50 Billion on revenue of $10.32 Billion  with a negative EPS of $(10.57).

 

The Agribusiness segment represented 70 percent of sales at $7.11 Billion with soybean processing contributing to improved results.  Edible oil sales attained $416 million and the Fertilizer segment, $153 million.

 

Bunge has a market capitalization of $7.92 Billion. The Company carries $5.98 Billion in long-term debt with total assets of $20.76 Billion, effective September 30th.  BG has traded over the past 52-weeks over a range of $29.00 to $60.50 with a 50-day moving average of $50.15. BG closed on Friday, October 30th at $56.73. Trailing 12-month operating margin and profit margin were 7.4 and 1.4 percent respectively.

 

Greg Heckman, CEO, commented, “Our team delivered a strong third quarter with outstanding execution across our global platform, leveraging improving market trends.”  He added, “These results and our performance over the past few quarters reflect the meaningful changes we have made to our operating model, portfolio, and financial approach.”

 

Forward guidance is for adjusted EPS earnings of between $6.25 and $6.75 for full-year Fiscal 2020.