Bunge Limited: Reports Q3-2020 Financial Results

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

  • Q3 GAAP EPS of USD 1.84 versus USD (10.57) in the prior year; USD 2.47 versus USD 1.28 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences
  • Strong results driven by outstanding execution across Bunge’s global platform
  • Exceptional Agribusiness performance driven by oilseed processing, which benefited from higher margins and volumes
  • Edible Oils results better than expected; year to date results higher than prior year despite Covid-19 impacts
  • Increasing full-year adjusted EPS outlook to between USD 6.25 and USD 6.75 based on strong Q3 results and improving market trends

Third quarter 2020 Overview

Greg Heckman, Bunge’s Chief Executive Officer, commented, «Our team delivered a strong third quarter with outstanding execution across our global platform, leveraging improving market trends. We achieved record crush utilization and captured exceptionally strong margins while supporting our customers and maintaining measures to protect the health of our employees. These results, and our performance over the past few quarters, reflect the meaningful changes we’ve made to our operating model, portfolio and financial approach. Looking into next year, we expect many of the favorable trends to continue with demand for our products remaining strong. We also expect additional global demand for vegetable oil from the growth of biofuels. With our strength in oilseed processing, in addition to our global origination and distribution capabilities, we believe we are well positioned to meet market demands and capitalize on this growth.»

For additional information please read the Company’s PDF file below (154 KB):