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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 Limited (NYSE: BG) announced the sale of its rice mill in Woodland, California, to Farmers' Rice Cooperative. The transaction will be finalized by the end of 2020, pending customary closing conditions. CEO Greg Heckman stated that the mill had limited connections to Bunge's broader value chains, prompting the decision to sell. This move is part of a portfolio review aimed at optimizing operations.
Bunge Limited (NYSE: BG) announced the sale of its Rotterdam refinery to Neste Corporation for €258 million, excluding working capital. The transition includes a leaseback arrangement allowing Bunge to maintain operations until 2024. This strategic move aligns with Bunge's goal of enhancing its asset footprint and operational efficiency, aimed at expanding its value-added oils and oilseeds-based ingredients portfolio. The deal is expected to close in Q1 2021, pending regulatory approvals.
Bunge Limited (NYSE:BG) reported impressive Q3 2020 results, achieving a GAAP EPS of $1.84, a significant improvement from $(10.57) a year prior. Adjusted EPS rose to $2.47, up from $1.28. The Agribusiness segment excelled in oilseed processing, benefiting from increased margins and volumes. Full-year adjusted EPS outlook has been raised to $6.25-$6.75 due to robust Q3 performance and promising market trends. CEO Greg Heckman noted strong execution and demand in biofuels as positive indicators for continued growth.
Bunge Limited (NYSE: BG) will report its third-quarter 2020 financial results on October 28, 2020, before market opening, followed by a conference call at 7:00 a.m. Central Time. A slide presentation will be available on their website. Investors can access the call by dialing specific numbers based on their location. A replay will be available from October 28 to November 28, 2020. Bunge, founded in 1818, is a leader in oilseed and grain products, with a global network supporting farmers and consumers.
Bunge Loders Croklaan (BLC) has inaugurated its first shea butter processing facility in Tema, Ghana, marking the largest of its kind in Africa. The facility, which became operational in 2019, supports local economies by employing 73 individuals and enhancing the shea supply chain. The company launched the Where Life Grows campaign to promote sustainability and empower local communities. Shea butter demand is projected to grow significantly, with 16 million African women reliant on the shea industry for their livelihoods. BLC aims to foster socio-economic development while adhering to sustainable practices.
Bunge Limited (NYSE: BG) has priced a public offering of $600 million in 1.630% senior notes maturing in 2025. This offering, made through its subsidiary Bunge Limited Finance Corp., is set to close on August 17, 2020. The funds will be utilized for general corporate purposes, including repayment of short-term debt. Major financial institutions like Citigroup and Goldman Sachs are managing the offering, adhering to SEC regulations. This move indicates Bunge's strategy to optimize its financial structure.
Bunge Limited (NYSE: BG) has declared a quarterly cash dividend of $0.50 per common share, payable on December 2, 2020, to shareholders of record on November 18, 2020. Additionally, a dividend of $1.21875 per share on its 4.875% cumulative convertible perpetual preference shares will be paid on December 1, 2020, to shareholders on record as of November 15, 2020. This reflects Bunge's commitment to returning value to shareholders while fostering sustainable growth.
Bunge Limited (NYSE: BG) reported a strong Q2 2020, achieving GAAP EPS of $3.47 compared to $1.43 in Q2 2019. Adjusted EPS rose to $3.88 from $1.52. Key segments such as Agribusiness and Edible Oils performed exceptionally well, with Agribusiness EBIT at $943 million, up from $283 million. The company updated its full-year earnings outlook upward due to better-than-expected results and strong cash flow management. Bunge also reported $277 million in cash and unused credit facilities of $3.6 billion, ensuring robust liquidity despite COVID-19 challenges.
Bunge Limited (NYSE: BG) will announce its second quarter 2020 financial results on July 29, 2020, before the market opens. A conference call will be held at 7:00 a.m. CT on the same day to discuss these results. Investors can access the live call by dialing 1-844-735-3666 or via the webcast on Bunge's website. A replay will be available shortly after the call, lasting until August 29, 2020.
Founded in 1818, Bunge is a leader in sourcing and supplying oilseed and grain products globally.
Bunge Limited (NYSE: BG) held a virtual business update on June 24, 2020, highlighting its strategies and value drivers. The management team, led by CEO Greg Heckman, presented progress on priorities including a streamlined operating model and improved financial discipline. Key points included a focus on oilseeds and a disciplined capital allocation strategy, projecting earnings of at least $5 per share at long-term average crush margins. The company emphasized strong cash flows and multiple opportunities to enhance earnings power.
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