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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 (NYSE: BG), Corteva (NYSE: CTVA), and Chevron (NYSE: CVX) announced a collaboration to introduce proprietary winter canola hybrids aimed at producing low-carbon plant-based oil. This initiative targets the renewable fuels market in the southern United States, creating a sustainable crop rotation for farmers while enhancing soil health. The plan includes a pilot program in the 2022-23 growing season to optimize management practices. Executives from the collaborating companies emphasized the importance of feedstock innovation for advancing a lower-carbon energy future and supporting agricultural productivity.
Bunge Limited (NYSE: BG) is set to replace Signature Bank (NASDAQ: SBNY) in the S&P 500 index before market open on March 15, 2023. This change comes after the Federal Deposit Insurance Corporation (FDIC) placed Signature Bank into receivership, rendering it ineligible for the index. The addition of Bunge, a major player in the consumer staples sector, highlights a significant shift in the index's composition. This move may affect investor sentiment towards both companies, particularly in light of Signature Bank's recent challenges.
Bunge Limited (NYSE: BG) announced a quarterly cash dividend of
X-energy Reactor Company, LLC has appointed Christopher Ginther and Kathleen Hyle to its Board of Directors, effective immediately. Ginther, from Ontario Power Generation, has invested $40 million in X-energy since 2021, while Hyle brings extensive governance experience from AmerisourceBergen and Bunge Limited. This leadership change coincides with X-energy's transition to a public company through a merger with Ares Acquisition Corporation (AAC), anticipated to close in Q2 2023. The Board aims to leverage their expertise to navigate growth in the advanced nuclear energy sector and achieve net-zero goals by 2040.
Bunge Limited (NYSE: BG) reported its Q4 and full-year 2022 results, revealing full-year GAAP EPS of $10.51, down from $13.64 in 2021. Adjusted EPS was $13.91 compared to $12.93 the previous year. In Q4, GAAP EPS was $2.21, up from $1.52, but adjusted EPS fell to $3.24 from $3.49. The company reported net income of $1,610 million for the year, down from $2,078 million in 2021. Despite these declines, Bunge anticipates a favorable market environment in 2023, expecting adjusted EPS of at least $11 per share and continued demand growth for food and renewable fuels.
Bunge has achieved 80% traceability of soybeans from its indirect supply chain in the Brazilian Cerrado. This initiative is part of the Sustainable Partnership Program, launched in 2021 to enhance sustainability in grain reselling. The company is now expanding its partnership with Vega Monitoramento to utilize the LYRA platform for enhanced monitoring and socio-environmental assessments.
By 2025, Bunge aims to establish deforestation-free supply chains, reflecting its commitment to responsible sourcing. The program supports resellers with training and technical assistance, fostering transparency and sustainability in the agribusiness sector.
Bunge Limited (NYSE: BG) will announce its Q4 2022 results on February 8, 2023, prior to market opening. A conference call is scheduled for 7:00 AM CT to discuss the results, with a slide presentation available on www.bunge.com. Investors can access the webcast in the 'Events and presentations' section of the website. A replay of the call will be available through March 8, 2023. Bunge is a leading player in oilseed processing and aims to enhance food security globally.
Bunge (NYSE: BG) plans to invest approximately $550 million in a new soy protein concentrate and textured soy protein concentrate facility in Morristown, Indiana. The facility, expected to be operational by mid-2025, aims to address growing demand in plant-based foods, processed meats, and pet foods, processing an additional 4.5 million bushels of soybeans. This initiative aligns with Bunge's strategy to enhance its capabilities in value-added ingredients and create 70 new jobs.
Additionally, Bunge has invested $10 million to improve its plant protein technical capabilities in St. Louis.
Bunge Limited (NYSE: BG) has announced a plan to redomicile from Bermuda to Switzerland, pending shareholder approval in 2023. This strategic move aims to align its corporate structure with operational activities and positions Bunge more centrally within key markets. The company has been operating in Switzerland for over 20 years and will maintain its operational headquarters in St. Louis. Bunge remains subject to U.S. SEC regulations, and its shares will continue to be traded on the New York Stock Exchange under the symbol 'BG.'
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