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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) reported Q3 2022 GAAP EPS of $2.49, down from $4.28 YOY, while adjusted EPS decreased to $3.45 from $3.72. The company's net income totaled $380 million, a significant decline from $653 million last year. Despite challenges, Bunge's Agribusiness results matched last year's performance, with Refined and Specialty Oils showing growth. The company repurchased $200 million in shares and revised its full-year adjusted EPS outlook to at least $13.50. CEO Greg Heckman emphasized Bunge's commitment to long-term growth through investments in oilseed and plant-based proteins.
Bunge (NYSE: BG) has announced a global volunteering initiative and a $500,000 donation to Vostok-SOS, aiding humanitarian efforts in Ukraine. This aligns with their commitment to address food insecurity as part of World Food Day. Over 30 global sites will participate in food drives and other volunteer activities aimed at combating hunger. Bunge's past support includes contributions totaling $1 million to the World Food Programme and Vostok-SOS. The FAO reports that hunger affects between 702 and 828 million people globally, highlighting the urgency of Bunge's involvement.
Bunge (NYSE: BG) and Olleco have announced a 50/50 joint venture to create a business focused on the full lifecycle of edible oils in Europe, excluding the UK and Ireland. This partnership aims to supply oils to foodservice and food manufacturing clients and efficiently collect used cooking oil for renewable fuel production. The joint venture is based in Amsterdam and combines Bunge’s oil production expertise with Olleco’s leading collection and conversion model, promoting sustainability in the food industry.
Bunge (NYSE:BG) announces more than 100 internship and trainee positions available across North America, marking the company's largest entry-level class to date. The paid internships cover various fields including engineering and finance, starting in 2023. Bachelor’s degree holders can apply for 16-18 month trainee programs with mentorship opportunities. Bunge emphasizes its commitment to professional growth and has been recognized as a 'Most Loved Workplace.' Interested individuals can visit Bunge's webpage for more details.
Bunge Limited (NYSE: BG) will announce its Q3 2022 results on October 26, 2022, before the market opens. A conference call will be held at 7:00 AM Central Time to discuss these results. Interested parties can access the webcast through the company's website, where a slide presentation will be available. A replay of the call will also be accessible on the same day until November 26, 2022. Bunge focuses on connecting farmers to consumers, enhancing food security, and sustainable practices globally.
Bunge (NYSE:BG) has announced the sale of its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group. The sale includes the sunflower processing plant located in Voronezh and is subject to customary closing conditions, including regulatory approval. CEO Greg Heckman expressed confidence in the new ownership, citing Vanetsyan's extensive experience in agricultural processing. This strategic move aligns with Bunge's mission to connect farmers to consumers while enhancing its operational focus.
Bunge Limited (NYSE: BG) has completed the sale of its wheat mills in Mexico to Grupo Trimex. This strategic move allows Bunge to focus on its corn mill operations in Querétaro and continue serving domestic oil and meal customers. The transaction reflects Bunge's ongoing efforts to optimize its operations and enhance its market position.
Bunge Limited (NYSE: BG) will have its CEO, Greg Heckman, and CFO, John Neppl, participate in a fireside chat at the Barclays Global Consumer Staples Conference on Wednesday, September 7, at 1:30 p.m. ET. The event will be accessible via a webcast on www.bunge.com in the "Events and presentations" section. Bunge stands as a leader in oilseed processing and specializes in plant-based oils, aiming to connect farmers to consumers and enhance global food security.
Bunge Limited (NYSE: BG) has declared a quarterly cash dividend of $0.625 per common share, effective August 11, 2022. This dividend will be payable to shareholders on December 2, 2022, with a record date of November 18, 2022. The company is committed to connecting farmers with consumers, aiming to enhance sustainability and food security globally. With a workforce of nearly 23,000 employees and extensive operations in over 40 countries, Bunge continues to influence the food and agriculture sector significantly.
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