Bunge Global SA boosted its full-year adjusted earnings per share forecast following a solid first quarter marked by strong execution and improved market conditions.
The company reported first-quarter GAAP diluted earnings per share of 35 cents, down from $1.48 a year earlier, but adjusted earnings per share rose slightly to $1.83 from $1.81. Net income attributable to Bunge was $68 million, compared to $201 million in the prior year.
Bunge’s CEO, Greg Heckman, highlighted the company’s ability to navigate a rapidly changing market environment driven by geopolitical uncertainty and shifting trade flows. “Our global platform performed as designed, enabling us to capture opportunities, manage risks, and connect farmers to consumers,” Heckman said.
The company’s soybean and softseed processing and refining segments delivered higher results, driven by expanded production capacity in Argentina, Brazil, North America, and Europe. Tropical oils and specialty ingredients saw mixed results, with gains in Asia and Europe offset by lower North American performance. Grain merchandising and milling results were lower, reflecting divestitures and market dynamics.
Bunge’s total adjusted earnings before interest and taxes (EBIT) rose to $561 million from $362 million a year ago. However, cash used in operating activities increased to $541 million, primarily due to lower net income and changes in working capital.
Looking ahead, Bunge raised its full-year adjusted EPS outlook to a range of $9.00 to $9.50, up from the previous $7.50 to $8.00 forecast. The company expects an adjusted effective tax rate between 22% and 26%, net interest expense of $620 million to $660 million, and capital expenditures of $1.5 billion to $1.7 billion.
