Bunge Global SA Revenue & Financials

Bunge Global SA reported FY2024 net sales of $53.108 billion, a 10.8% decline from $59.540 billion in 2023, with net income attributable to shareholders falling 49.3% to $1.137 billion from $2.243 billion in the prior year. This earnings compression reflected a global rebalancing of agricultural commodity markets that reduced processing and merchandising margins across all core segments. Gross profit declined to $3.393 billion from $4.845 billion, producing a gross margin of 6.4% compared to 8.1% in 2023. Core Segment EBIT, comprising Agribusiness, Refined and Specialty Oils, and Milling, totaled $2.171 billion in 2024 versus $3.717 billion in 2023, a 41.6% decrease. The Agribusiness segment drove this decline, with EBIT falling to $1.301 billion from $2.786 billion as crush margins compressed and ocean freight results weakened. Refined and Specialty Oils EBIT declined 12.2% to $759 million, while Milling EBIT actually increased 68.2% to $111 million due to favorable mark-to-market results and portfolio optimization. The Non-core Sugar and Bioenergy segment contributed $215 million in EBIT, including a $195 million gain on the October 2024 sale of Bunge's 50% interest in BP Bunge Bioenergia. Corporate and Other EBIT showed a loss of $594 million, up from $548 million in 2023, driven by $227 million in Viterra acquisition costs and $20 million in investment impairments. Total EBIT reached $1.792 billion, down from $3.333 billion in 2023. Interest expense totaled $471 million, down from $516 million, while interest income declined to $163 million from $148 million. The effective tax rate was 22.1% on a GAAP basis and 23.4% on an adjusted basis. Cash flow from operations totaled $1.900 billion in 2024, down from $2.337 billion in 2023, with adjusted funds from operations of $1.682 billion. Capital expenditures totaled approximately $1.376 billion, within the guided range of $1.2-$1.4 billion. The company returned $1.1 billion to shareholders through share repurchases during 2024 and maintained a quarterly dividend of $0.6625 per share. At year-end 2024, Bunge held $3.311 billion in cash and cash equivalents against total long-term debt of $4.777 billion, with a debt-to-equity ratio of 93.21% as reported in subsequent market data. The FY2025 results, which include Viterra from July 2 onward, show net sales of $70.33 billion, net income of $816 million, and adjusted total EBIT of $2.03 billion. The lower net income despite higher sales reflects integration costs, a $118 million pension settlement charge, and continued margin pressure in the first half of the year before Viterra's contributions began. The company has guided to FY2026 adjusted EPS of $7.50-$8.00, with net interest expense expected between $575-$625 million, capital expenditures of $1.5-$1.7 billion, and depreciation and amortization of approximately $975 million.