Bunge Global S.A. (BG) Earnings
Bunge Global S.A. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $2.00. BG has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +33.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.97 | $1.83 | +88.7% | $21.9B | -6.5% |
| Feb 4, 2026 | $1.82 | $1.99 | +9.3% | $23.8B | +2.9% |
| Nov 5, 2025 | $1.94 | $2.27 | +17.0% | $22.2B | +50.4% |
| Jul 30, 2025 | $1.09 | $1.31 | +20.2% | $12.8B | +4.3% |
| Feb 5, 2025 | $2.30 | $2.13 | -7.4% | $13.5B | +2.7% |
| Oct 30, 2024 | $2.14 | $2.29 | +7.0% | $12.9B | -2.2% |
| Jul 31, 2024 | $1.83 | $1.73 | -5.5% | $13.2B | -7.4% |
| Feb 7, 2024 | $2.81 | $3.70 | +31.7% | $14.9B | +6.0% |
| Oct 26, 2023 | $2.50 | $2.99 | +19.6% | $14.2B | -7.2% |
| Aug 2, 2023 | $2.69 | $3.72 | +38.3% | $15.0B | -8.2% |
| May 3, 2023 | $3.24 | $3.26 | +0.6% | $15.3B | +3.7% |
| Feb 8, 2023 | $3.19 | $3.24 | +1.6% | $16.7B | -8.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Greg thanked the team for their hard work and adaptability in a dynamic operating environment. • Discussed the impact of the Middle East conflict on global trade flows, logistics, and supply chains, and the steps taken to support supply continuity. • Highlighted the bright spot in US biofuels with the EPA's RBO decision. • Mentioned Bungie's business is designed for complexity and change, with a combination of integrated global platform, disciplined risk management, and operational excellence. • John provided details on earnings highlights, financials, and outlook, including adjusted EPS, EBIT trends, capital allocation, liquidity position, and ROIC. • Greg emphasized themes from Investor Day remain, Bungie is stronger, more agile, and better positioned, with portfolio transformation and operating model strengthening. • Announced the acquisition of IFF's soy protein, lecithin, and processing business.
Guidance
• Increased full-year adjusted EPS guidance range to $9 to $9.50 from $7.50 to $8. • Soybean and soft seed processing and refining segment results forecasted to be higher; tropical oils and specialty ingredients and grain merchandising and milling segment results expected to be lower; corporate and other results in line. • Expected adjusted annual effective tax rate in range of 22% to 26% (down slightly from previous expectation). • Net interest expense in range of $620 to $660 million (up from previous range). • Capital expenditures in range of $1.5 to $1.7 billion; depreciation and amortization of approximately $975 million.
Segment performance
Soybean and soft seed processing and refining segment: Higher results in first quarter, driven by South America (stronger processing in Argentina and Brazil) and North America. Destination value chain had higher origination in Brazil but lower processing in Europe and Asia. Global oils merchandising activities increased. Soft seed processing and refining segment: Higher results across all regions, with increases in Argentina (processing and refining), North America (higher processing offsetting slightly lower refining), Europe (higher processing and biodiesel offsetting lower refining), and origination in Canada and Australia. Global oils merchandising activities increased. Tropical oils and specialty ingredients segment: Higher results in Asia, Europe, and global oils merchandising activities offset by lower results in North America. Grain merchandising and milling segment: High results in wheat milling, global cotton, and commercial services offset by low results in ocean freight (impacted by bunker fuel costs). Global grains merchandising results in line with last year.
Risks & headwinds
• Uncertain duration of the Middle East conflict and its impact on farmer inputs, fuel prices, and crop planting mix. • Macroeconomic and geopolitical uncertainties affecting the business. • Volatility in forward curves and lack of liquidity. • Uncertainty in crop development, weather conditions, and China-US trade. • Impact of tariff uncertainty on food customers' buying behavior.
Analyst Q&A
Q: Manav Gupta asked about dynamics in renewable diesel and biodiesel production, given strong macro and RVO clarity.
A: Greg and John discussed policy evolution in various regions, higher crude and diesel prices supporting renewable diesel and biodiesel, and forward curves showing uncertainty but supply and stocks being present.
Q: Ben Thier asked about Q2 guidance cadence and why merchandising and tropical segments were downgraded.
A: John said first half is 40% and second half 60%, with Q2 and Q3-Q4 being more even. Merchandising downgraded due to rough start in Q1 and ocean freight issues; tropicals due to lower food customer volumes, cocoa price decline, and geopolitical uncertainty.
Q: Tom Palmer asked about refining and oil seed merchandising pickup.
A: John said refining premiums are resilient, volume is strong; oil seed merchandising had strong Q1 results due to farmer selling and origination.
Q: Puran Sharma asked about soy oil inventories and Argentina processing strength.
A: John said delayed RBO led to stock build, which will draw down; Argentina's stronger processing due to bigger footprint, better origination, and seasonal offset from sunseed business.
Q: Heather Jones asked about inverted curves and US meal strength.
A: Greg and John said curves are inverted due to lack of consumer engagement and uncertainty, but meal demand is strong due to meat economics and consumer protein preference.
Q: Andrew Stryzlik asked about South America operating environment curves and share repurchase pace.
A: Greg said South American curves are inverted with low visibility; John said they expect to finish $250 million buyback by year end and will monitor capital allocation and leverage.
Q: Stephen Haynes asked about global acreage shifts.
A: Greg said slight shift in US soy vs corn acres, watch for fertilizer availability and El Nino effect.
Q: Matthew Blair asked about net leverage and Q2 EPS guidance.
A: John explained RMI adjustment due to Viterra acquisition, and Q2 EPS guidance is flat due to higher tax and interest expenses and uncertainty in tropical segments.