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12:00
Jul 29 ◎

BG FY2026 Q2 Watch

Bunge Global SA (BG) FY2026 Q2 Earnings Call

CVX PBR GLEN.L ADM BG ▾

John Neppl

Bunge's new multi-seed crush plant at Destrehan is part of a JV with Chevron and is expected to come online around end of Q3, expanding their renewable fuels feedstock supply.

"Of course, in Destrehan, we have two projects underway. One is the crush plant that sits in the JV with Chevron."

CVX WATCH

Greg Heckman

Bunge has signed a supply agreement with Petrobras and Vibra to provide feedstock for SAF production, signalling increased demand from the renewable fuels sector in Brazil.

"We also entered into a partnership with Petrobras and Vibra to supply certified low-cluc Corsia Brazil feedstock for the production and commercialization of SAF."

PBR WATCH

Greg Heckman

Glencore, a major shareholder in Bunge following the Viterra deal, is in no hurry to reduce its stake and views the partnership positively for long-term value creation.

"Glencore's been a great partner and you might remember that the one thing that they liked about getting equity in this deal"

GLEN.L WATCH

Greg Heckman

A potential super El Nino would create supply chain challenges globally, but Bunge's diversified footprint would allow it to benefit from the disruption, particularly with its strong Argentina processing assets. — A weather event could be a positive catalyst for Bunge, which can shift flows and optimize its global network, while harming the broader meat and ag production chain.

"And we've got clarity around the RBO. We're now seeing that the crush that's been added is here to meet that demand. And we continue to see strong meal demand globally and strong corn demand"

ADM WATCH TSN WATCH

Greg Heckman

Bunge raised its full-year adjusted EPS guidance, citing strong performance in soy and soft seed processing, benefits from Viterra synergies, and constructive demand trends across food, feed, and fuel.

"Based on what we can see today, we now expect full year 2026 adjusted EPS in the range of $9.25 to $9.75, which is up from our previous range of $9 to $9.50 we provided on our first quarter call."

BG WATCH

Greg Heckman

Renewable fuel policies (RVO) are a key driver for vegetable oil demand, with soft seed oils seeing durable tailwinds, while geopolitical conflicts remain a headwind to volumes and margins. — The shift in vegetable oil growth from palm to soft oils highlights a durable multi-year trend that benefits processors of soy and soft seeds in North and South America.

"Soy and soft seed oils are expected to contribute approximately one half of global vegetable oil production growth over the next decade. And that's a meaningful shift as palm supply growth slows."

DAR WATCH

HIGH

12:00
Apr 29 ◎

BG FY2026 Q1 Watch

Bunge Global SA (BG) FY2026 Q1 Earnings Call

BG ADM GPRE ▾

Greg Heckman

Guidance was raised significantly due to strong Q1 execution and improved market conditions, particularly in soy and soft seed processing, with management expressing confidence in the durable earnings power of the business.

"Based on what we can see today, including the strength of Q1 and the forward curves as we look at the balance of the year, we are increasing our full-year adjusted EPS guidance range to $9 to $9.50."

BG WATCH

Greg Heckman

The Middle East conflict has disrupted global trade flows, but Bunge is leveraging its 'regional capillarity' to keep supply chains moving, indicating a potential competitive advantage for other companies with diversified footprints. — Companies with less geographic diversification may struggle to maintain supply chain continuity and could lose market share to more agile competitors.

"These actions focus on maintaining flexibility in shipping arrangements and leveraging our global capabilities and regional capillarity to continue serving customers reliably."

ADM WATCH

Greg Heckman

The recent EPA RBO decision is seen as a strong signal for biofuels, supporting investments by fuel producers, oilseed processors, and farmers, which will drive demand for feedstocks like soybean oil. — A supportive RVO boosts the economics of renewable diesel production, increasing demand for vegetable oils and potentially tightening supplies.

"We commend the agency for setting a volume that supports the investments made by fuel producers, oilseed processors and farmers in supplying biofuels to the market."

GPRE WATCH

HIGH

13:00
Feb 04 ◎

BG FY2025 Q4 Watch

Bunge Global SA (BG) FY2025 Q4 Earnings Call

REP.MC ADM CVX ▾

Greg Heckman

Partnerships with fuel companies like Repsol are central to Bunge's strategy to serve future low-carbon fuel demand.

"We've got with the partnership with Chevron and the partnership with Repsol and some of the other fuel customers..."

REP.MC WATCH

Greg Heckman

The market is currently undervaluing potential upside from U.S. biofuel policy (RVO) by not including any assumptions in guidance. — If the RVO is resolved favorably, crush margins could improve sharply, leading to a significant earnings beat versus a conservative guidance range.

"Our outlook, we did not put any assumptions about what the RVO, you know, would do to the curves or the profitability beyond what the curves are already showing."

ADM WATCH

John Nepple

"Our Destrehan barge unloading and crush plant expansion. Remember, the crush plant's in the joint venture with Chevron."

CVX WATCH

HIGH

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