Bunge Reports Third Quarter 2023 Results

St. Louis, MO - October 26, 2023 - Bunge Limited (NYSE: BG) today reported third quarter 2023 results

• Q3 GAAP diluted EPS of $2.47 vs. $2.49 in the prior year; $2.99 vs. $3.45 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences
• In Agribusiness higher Processing results were more than offset by lower results in Merchandising
• Higher Refined and Specialty Oils results driven by strength in North America
• Significant progress on Viterra transaction and other growth initiatives
• Repurchased ~$600 million of common shares since Q2
• Increasing full-year adjusted EPS outlook to at least $12.50  

Overview

Greg Heckman, Bunge’s Chief Executive Officer, commented, “Our team remained focused on executing our day-to-day business to deliver strong results for the third quarter.  Our operating model enabled us to maximize our global footprint as we responded effectively to shifting market conditions.  At the same time, we reached an important milestone in our strategic combination with Viterra, achieving overwhelming shareholder support for the transaction that we expect to accelerate Bunge’s growth.  

“We are also making good progress on other growth initiatives including enhancing our footprint, building relationships with our customers – farmers and end consumers, and strengthening our digital capabilities.  I am proud of our team’s work across value chains to successfully deliver on our mission of connecting farmers to consumers to deliver essential food, feed and fuel to the world.”