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1ST QUARTER: BUNGE'S SALES UP 23%, NET INCOME DOWN 17%: $688 MILLION
Source: Bunge news release

St. Louis, MO - Bunge Limited (NYSE:BG) today reported first quarter 2022 results

*Q1 GAAP EPS of $4.48 vs. $5.52 in the prior year; $4.26 vs. $3.13 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences

*Agribusiness continues to adapt to dynamic, rapidly changing market conditions while connecting farmers to global consumers

*Refined and Specialty Oils benefiting from favorable demand trends, as well as supply chain and innovation capabilities

*Increasing full-year adjusted EPS outlook to at least $11.50 based on stronger than expected Q1 results and current forward crush curves

Overview

Greg Heckman, Bunge's Chief Executive Officer, commented, "I am very proud of our team's continued agility and dedication to ensuring key food, feed and fuel products are getting from farmers to consumers as we navigate this unprecedented global market, further intensified by the war in Ukraine. In addition to our corporate humanitarian contributions, our global team continues to actively support our colleagues in the region during this difficult time, including volunteering to assist displaced colleagues and their families with shelter, food and other critical needs.

"From a business standpoint, the changes we've made to our operating model have enabled us to provide innovative solutions to our customers on both ends of the supply chain and help them respond to the highly dynamic and challenging environment. While we expect market conditions to continue shifting, I am confident we have the right team and platform in place to execute our critical role in the global agriculture and food supply chains."

To read the entire report click here.


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