- Bunge Ltd (NYSE:BG) reported fourth-quarter FY21 sales growth of 32.3% year-on-year, to $16.68 billion, beating the analyst consensus of $13.61 billion.
- Net sales from the Agribusiness segment improved 30.4% to $12.32 billion, and Refined & Specialty Oils rose 38.6% to $3.8 billion.
- The gross profit declined 23.8% Y/Y to $689 million.
- Total segment EBIT amounted to $332 million, down 53.5% Y/Y.
- The company held $905 million in cash and equivalents as of December 31, 2021.
- Adjusted EPS of $3.49 beat the analyst consensus of $2.55.
- "With focus and discipline, we capitalized on changing market conditions, achieved a number of operational milestones, made investments in key growth areas, and advanced toward ESG goals," said CEO Greg Heckman.
- Outlook: Bunge sees FY22 adjusted EPS of at least $9.50 versus the consensus of $8.58.
- The company expects favorable market environment to continue in 2022.
- Price action: BG shares are trading higher by 0.04% at $101.00 in premarket on the last check Wednesday.
