Bunge Limited: Reports Q2-2020 Results

St. Louis / MO. (bl) Bunge Limited, a leader in agriculture, food and ingredients, reported second quarter 2020 results.

• Q2 GAAP EPS of USD 3.47 versus USD 1.43 in the prior year; USD 3.88 versus USD 1.52 on an adjusted basis
• Core Agribusiness and Food + Ingredients businesses generated strong results
• Agribusiness earnings improved on excellent execution; results also benefited from ~ USD 380 million of timing differences related to expected Q1 reversals and new mark-to-market gains
• Edible Oils performed better than expected
• Increasing full-year earnings outlook to reflect better than expected Q2

Second quarter 2020 Overview

Greg Heckman, Bunge’s Chief Executive Officer, commented, «Bunge had an outstanding second quarter, with strong performance across all of our core businesses while maintaining a sharp focus on the safety of our team. Our execution against committed crush capacity and coordination of trade flows was exceptional. We realized the benefit from our risk management decisions in the first half of this year and earned new business with our focus on innovation and our collaborative approach with customers. We generated strong cash flow while being disciplined in our approach to capital allocation, and continued to execute on our key priorities. These results would be strong in any environment, let alone a pandemic, and we couldn’t be more proud of the resilience and commitment of our team.»

For additional information please read the Company’s PDF file below (132 KB):

20200730-BUNGE-Q2-2020.