Market Pulse Archives

April 27, 2022, 6:16 a.m. EDT

Bunge stock bounces after big profit and sales beats, raised full-year outlook

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Bunge Ltd. (BG)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Bunge Ltd. /zigman2/quotes/208554679/composite BG +0.35% bounced 1.0% in premarket trading Wednesday, after the agricultural commodities supply and transportation company reported adjusted profit and sales that rose well above expectations and raised its full-year outlook. Net income fell to $688 million, or $4.48 a share, from $831 million, or $5.52 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $4.26 from $3.13, beating the FactSet consensus of $2.94. Sales grew 22.5% to $15.88 billion, above the FactSet consensus of $14.63 billion, as agribusiness sales rose 14.7% to $11.23 billion and refined and specialty oils sales increased 45.9% to $3.98 billion. Cost of sales rose 24.2% to $14.68 billion, as gross profit as a percentage of sales dropped to 7.6% from 8.8%. For 2022, the company raised its adjusted EPS guidance to at least $11.50 from at least $9.50. The stock, which slumped 8.8% amid a four-day losing streak through Tuesday, has run up 23.0% year to date while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.21% has dropped 12.4%.

/zigman2/quotes/208554679/composite
US : U.S.: NYSE
$ 82.21
+0.29 +0.35%
Volume: 1.17M
Sept. 27, 2022 4:00p
P/E Ratio
7.08
Dividend Yield
3.04%
Market Cap
$12.44 billion
Rev. per Employee
$2.94M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,647.29
-7.75 -0.21%
Volume: 2.22B
Sept. 27, 2022 5:18p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.