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Bunge Global SA (NYSE: BG) is a leading global agribusiness and food company, with a strong presence in over 40 countries and employing approximately 35,000 people. Founded in 1818 and headquartered in White Plains, New York, Bunge operates at every stage of the food production chain. The company specializes in buying, selling, storing, and transporting oilseeds and grains to meet the needs of customers worldwide.
Bunge processes oilseeds to produce protein meal for animal feed and edible oil products for both commercial customers and consumers. The company is also engaged in the production of sugar and ethanol from sugarcane, as well as milling wheat, corn, and rice to create ingredients for food companies. Additionally, Bunge is a significant seller of fertilizer in South America.
The company operates through several segments, including Agribusiness, Refined and Specialty Oils, Milling, Sugar and Bioenergy, and Corporate and Other. The Agribusiness segment generates the majority of Bunge's revenue and includes activities related to oilseed and grain processing. By leveraging its extensive global network and state-of-the-art facilities, Bunge ensures the efficient transportation and processing of agricultural commodities.
In recent developments, Bunge has partnered with ag-tech start-up WeedOut, Ltd., through its investment arm, Bunge Ventures. WeedOut specializes in developing green solutions to combat herbicide-resistant weeds, an issue posing a significant threat to agriculture and food security worldwide. This collaboration aims to enhance crop yields and reduce reliance on chemical herbicides.
With a commitment to sustainability and innovation, Bunge continues to play a crucial role in connecting farmers to consumers, delivering essential food, feed, and fuel to a growing global population.
Bunge Global (NYSE: BG) reported its Q4 and full-year 2024 results, showing a decline in financial performance. Full-year GAAP diluted EPS decreased to $7.99 from $14.87 in the prior year, while adjusted EPS fell to $9.19 from $13.66. Q4 GAAP diluted EPS increased to $4.36 from $4.18, though adjusted EPS declined to $2.13 from $3.70.
The company repurchased $500 million of shares during Q4, bringing the total share repurchases for 2024 to $1.1 billion. Bunge is in the final stages of regulatory processes for Viterra and CJ Selecta acquisitions. The company's 2024 performance was marked by lower Processing results in Agribusiness and decreased Refined and Specialty Oils results, particularly in North America.
Looking ahead to 2025, Bunge forecasts adjusted EPS of approximately $7.75, expecting lower results in both Agribusiness Processing and Merchandising segments, as well as decreased performance in Refined and Specialty Oils.
Bunge Global SA (NYSE: BG) announced that its subsidiary, Bunge Finance Corp. (BLFC), has extended the expiration date of its exchange offers from February 3, 2025, to March 7, 2025. The exchange offers involve swapping Viterra Finance B.V.'s outstanding notes for up to $1.95 billion in new BLFC notes guaranteed by Bunge, plus cash.
As of January 31, 2025, high participation rates were recorded with 96.4% to 99.3% of existing notes tendered across different series. The exchange offers are contingent on Bunge's pending acquisition of Viterra, which requires antitrust approvals. Bunge expects to receive remaining approvals and close the Business Combination in the next several months.
Previously tendered notes remain valid, and holders can withdraw their tenders until the new expiration date. The exchange offers are only available to qualified institutional buyers and non-U.S. persons meeting specific eligibility criteria.
Bunge Global SA (NYSE: BG) has scheduled its fourth quarter 2024 earnings release and conference call for Wednesday, February 5, 2025. The company will release its financial results before market opening, followed by a management conference call at 7:00 a.m. Central Time.
A slide presentation will be available on www.bunge.com. Investors can access the webcast through the company's website under the 'Investor Center' section. US and Canada participants can dial 1-844-735-3666, while international callers should use 1-412-317-5706.
A replay of the call will be available on the same day and continue through March 5, 2025. Replay numbers are 1-877-344-7529 (US), 1-855-669-9658 (Canada), and 1-412-317-0088 (international), using confirmation code 6384373.
Bunge Global SA (NYSE: BG) announced that its subsidiary, Bunge Finance Corp. (BLFC), has extended the expiration date of its exchange offers for Viterra Finance B.V.'s notes to February 3, 2025. The exchange offers cover up to $1.95 billion aggregate principal amount of notes with varying interest rates due in 2026, 2027, 2031, and 2032.
The exchange offers are contingent on Bunge's pending acquisition of Viterra, which is expected to close in the next several months pending remaining regulatory approvals. As of December 30, 2024, high participation rates were recorded with 95.8% to 99.3% of existing notes tendered across different series.
Bunge has achieved 100% traceability and monitoring of both direct and indirect soy purchases in priority regions of Brazil's Cerrado biome, becoming the first global commodity exporter to reach this milestone. The accomplishment covers priority regions at risk of deforestation in Maranhão, Tocantins, Piauí, Bahia and Mato Grosso. Through its Sustainable Partnership program, Bunge collaborates with over 90 grain resellers, monitoring approximately 2,000 properties across 2 million hectares. The company has partnered with Vega Monitoramento to provide the LYRA platform, offering satellite monitoring and socio-environmental compliance tools, which will now be made available to other companies in the sector.
Bunge Global (NYSE: BG) announced its Board's authorization of an additional $500 million share repurchase program on November 13, 2024. This expansion adds to the approximately $800 million remaining from a previous program authorized in June 2023, bringing the total authorization to $1.3 billion. The company plans to use proceeds from the sale of its sugar and bioenergy joint venture interest to fund the expanded program. The repurchases can be executed through various means, including open market and private transactions, with timing and volume dependent on market conditions.
Bunge Global SA (NYSE: BG) announced that its subsidiary, Bunge Finance Corp., has extended the expiration date of its exchange offers for Viterra Finance B.V.'s outstanding notes to January 2, 2025. The exchange offers involve up to $1.95 billion aggregate principal amount of new notes to be issued by BLFC and guaranteed by Bunge. The extension is related to Bunge's pending acquisition of Viterra, expected to close in the next several months pending regulatory approvals. Current tender participation rates are high, ranging from 94.4% to 99.3% across different note series.
Bunge Global SA (NYSE: BG) reported Q3 2024 results with GAAP diluted EPS of $1.56, down from $2.47 in the prior year, and adjusted EPS of $2.29 versus $2.99. The company showed solid performance in Agribusiness and Refined and Specialty Oils, though results decreased year-over-year due to global margin environment. During Q3, Bunge repurchased $200 million of common shares, bringing YTD total to $600 million. The company adjusted its full-year EPS outlook to at least $9.25. Notable developments include closing the sale of the sugar & bioenergy joint venture and advancing Viterra integration planning.
Bunge has expanded its Global Volunteer Program in recognition of World Food Day, with employees in over 85 cities participating in events focused on supporting food security in local communities. This represents a 30% increase compared to 2023. The month-long initiative connects employees with local non-profit organizations to promote nutrition and well-being.
Since the program's launch in 2022, approximately 200 volunteer events have been organized worldwide, including food drives, donations, and educational sessions on healthy eating habits. Many projects have evolved into multi-year relationships in communities where Bunge operates. The company's Chief Sustainability Officer, Robert Coviello, expressed pride in the growing employee enthusiasm for the program, which aligns with Bunge's commitment to creating sustained, positive community impact.
Bunge Global SA (NYSE: BG) announced that its subsidiary, Bunge Finance Corp. (BLFC), has extended the expiration date of its exchange offers and consent solicitations for Viterra Finance B.V.'s outstanding notes. The new expiration date is October 31, 2024, at 5:00 p.m. New York City time. This extension is related to Bunge's pending acquisition of Viterra, which is expected to close in the next several months pending regulatory approvals.
As of October 7, 2024, significant portions of the existing Viterra Notes had been tendered: 94.4% of 2026 Notes, 97.1% of 2027 Notes, 99.3% of 2031 Notes, and 98.3% of 2032 Notes. The exchange offers and consent solicitations are subject to conditions, including the completion of the Viterra acquisition. BLFC may further extend the expiration date if needed to align with the acquisition timeline.