Bunge Profit Tops Estimates as Crop Trader Weathers Downturn [BNN Bloomberg (Canada)]
Bunge Limited Common Shares (BG)
Last bunge limited common shares earnings: 2/12 06:00 am
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Source: BNN Bloomberg
Earnings per share shrank 6.7% from a year earlier to $3.04 in the three-month period ended March, the St. Louis, Missouri-based company said in a statement Wednesday. That compares with the $2.57 average of analyst estimates compiled by Bloomberg. The company kept its 2024 earnings outlook at $9 per share. “While we are off to a strong start, we continue to have limited visibility into the back half of the year,” Chief Executive Officer Greg Heckman said in a statement. Crop traders and processors, which over the past few years made huge profits off major harvest losses and disruptions caused by Russia's invasion of Ukraine, now are being slammed by lower prices amid a rebound in global stockpiles and fading demand. An increase in soybean processing capacity in the US is also weighing on margins for meal and oil production, eroding profits for crushers. The Bloomberg Grain Spot Index, which tracks futures for soybeans, corn and wheat, averaged the lowest since 2020 in the firs
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News
- Argentina's Soybean Crushers Strike Just as Harvest Gathers Pace [BNN Bloomberg (Canada)]BNN Bloomberg
- Bunge Global First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Soaring Imports of Green Diesel Feedstocks Disrupt US Soy Market [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Soaring Imports of Green Diesel Feedstocks Disrupt US Soy Market [BNN Bloomberg (Canada)]BNN Bloomberg
- Bunge Global SA (NYSE: BG) had its price target raised by analysts at Citigroup Inc. from $117.00 to $122.00. They now have a "buy" rating on the stock.MarketBeat
BG
Earnings
- 4/24/24 - Beat
BG
Sec Filings
- 4/24/24 - Form 10-Q
- 4/24/24 - Form 8-K
- 4/16/24 - Form 8-K
- BG's page on the SEC website