- Bunge Ltd (NYSE:BG) reported first-quarter FY22 sales growth of 22.5% year-on-year to $15.88 billion, beating the consensus of $14.80 billion.
- Net sales from the Agribusiness segment improved 14.7% to $11.23 billion, and Refined & Specialty Oils jumped 45.9% to $3.97 billion.
- Gross profit increased 5% Y/Y to $1.2 billion. Adjusted total segment EBIT amounted to $800 million, a 19.2% Y/Y increase.
- The company held $406 million in cash and equivalents as of March 31, 2022.
- Adjusted EPS of $4.26 beat the analyst consensus of $2.94.
- Outlook: Bunge raised the FY22 adjusted EPS outlook to at least $11.50 (prior view at least $9.50), against the consensus of $11.04.
- Bunge expects to incur capital expenditures of $650 million - $750 million.
- Price Action: BG shares are trading higher by 0.12% at $115 in premarket on the last check Wednesday.
