Bunge Global SA BG raised full-year 2026 adjusted EPS guidance to $9.25-$9.75 from $9.00-$9.50 after stronger second-quarter processing performance. The revision reflects higher expectations for Soybean Processing and Refining and slightly higher Softseed Processing and Refining results.
The upgrade is not broad based. Bunge lowered its outlook for Grain Merchandising and Milling, while higher corporate, financing and integration costs leave execution important to converting processing gains into per-share earnings.
The Zacks Consensus Estimate for earnings for 2026 is currently pegged at $9.72 per share, near the higher end of the company’s guided range. The estimate suggests year-over-year growth of 28.4%. The estimate of $12.08 for 2027 indicates growth of 24.3%.
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Bunge’s Q2 Processing Gains Support Higher Guidance
Second-quarter adjusted EPS increased 52.7% year over year to $2.00. Adjusted total EBIT more than doubled to $665 million, with the margin improving to 2.8% from 2.3%.
Bunge Global SA Price, Consensus and EPS Surprise
Bunge Global SA price-consensus-eps-surprise-chart | Bunge Global SA Quote
Net sales rose 88.3% to $24.04 billion as sales and volumes increased across all four segments. Gross profit more than doubled to $1.68 billion, while gross margin expanded to 7% from 5.8%.
BG’s Soybean Volumes Show Added Viterra Scale
Soybeans processed volumes increased to 11,524 thousand metric tons from 9,304 thousand metric tons, with the largest increase tied to greater production capacity in Argentina. Merchandised volumes nearly doubled, reflecting the combined company’s broader origination footprint.
Soybean Processing and Refining adjusted EBIT advanced 46.4% to $445 million as North and South American results improved. Archer-Daniels-Midland Company ADM also reported stronger second-quarter Ag Services & Oilseeds profit, up 129% on improved segment margins.
Darling Ingredients Inc. DAR offers another biofuel-linked reference through its Diamond Green Diesel joint venture, which has capacity to produce more than 1.2 billion gallons annually.
Bunge’s Softseed Results Strengthen the Earnings Mix
Softseed processed volumes increased 79.3% to 3,490 thousand metric tons, reflecting added capacity in Argentina, Canada and Europe. Segment sales rose 167.5% to $4.1 billion.
Adjusted segment EBIT jumped to $255 million from $14 million. Processing gains in North America and Argentina led the improvement, while stronger European processing offset weaker refining and biodiesel results. Darling Ingredients provides another biofuel reference through its 50/50 Diamond Green Diesel joint venture, which has more than 1.2 billion gallons of annual renewable-fuel capacity.
BG’s Grain Outlook Limits the Scope of the Upgrade
Grain Merchandising and Milling sales rose 183.4% to $6.61 billion, while volumes increased 184.6% to 23,852 thousand metric tons as the combined company expanded its grain-handling footprint. Adjusted segment EBIT increased to $67 million from $29 million.
Higher ocean freight, commercial services, global cotton and wheat milling results were partly offset by weaker global grain merchandising and sugar. Management lowered its full-year outlook for the segment, limiting the breadth of the guidance increase.
Bunge’s Cost Base Still Tests Guidance Conversion
Selling, general and administrative expenses rose 45% to $606 million as the combined company became larger. Net interest expense also increased year over year, and transaction and integration costs weighed on reported per-share results.
Bunge maintained 2026 net interest expense guidance of $620-$660 million and capital spending expectations of $1.5-$1.7 billion. Cash used for operating activities totaled $1.13 billion in the first half, while capital expenditures reached $779 million.
BG’s Style Scores Reflect Better Earnings Momentum
The higher outlook rests on stronger oilseed processing, but grain merchandising weakness and a heavier combined-company cost base keep the earnings picture mixed. The next test is whether processing gains and Viterra synergies translate into more consistent earnings conversion.
BG carries a Zacks Rank #3 (Hold), a VGM Score of A, a Value Score of B, a Growth Score of B and a Momentum Score of B. The Style Scores complement rather than supersede the Zacks Rank.
The current-fiscal-year EPS estimate was unchanged over the past one and four weeks, while the 12-week change was positive 1.6%. That leaves limited evidence of fresh near-term estimate-revision momentum despite the higher company guidance.
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This article originally published on Zacks Investment Research (zacks.com).
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