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Bunge Q4 Adj. EPS Tops Estimates; Guides FY24 Below Estimates

February 07, 2024 — 06:14 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - Bunge Ltd. (BG) reported Wednesday that net income attributable to the company for the fourth quarter surged to $616 million or $4.18 per share from $336 million or $2.21per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $3.70 per share, compared to $3.24 per share in the year-ago quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $2.80 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter edged down to $14.94 billion from $16.66 billion in the same quarter last year. Analysts expected revenues of $15.06 billion for the quarter.

Looking ahead to fiscal 2024, the company now projects adjusted earnings of approximately $9.00 per share. The Street is looking for earnings of $10.52 per share for the year.

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