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BG Q3 Earnings Beat on Strong Soybean and Softseed Results
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Key Takeaways
Bunge Global's Q3 adjusted EPS rose 12.8% to $2.56, beating estimates on strong soybean and softseed results.
Softseed processing EBIT jumped 19.6% to $329 million on stronger North American performance.
Bunge maintained 2026 adjusted EPS guidance of $9.25-$9.75.
Bunge Global SA (BG - Free Report) reported third-quarter 2026 adjusted earnings of $2.56 per share, up 12.8% year over year. The figure beat the Zacks Consensus Estimate of $2.45 by 4.49%. Strong performance in the Soybean and Softseed Processing and Refining segments drove the results.
Including one-time items, earnings from continuing operations were $1.64 per share compared with 86 cents in the year-ago quarter.
Net sales increased 7.4% to $23.80 billion, surpassing the consensus mark of $23.08 billion by 3.15%. Softseed processing volumes increased 15.2%, supported by favorable margins.
Cost of goods sold increased 6.5% year over year to $22.47 billion. Gross profit climbed 25.3% to $1.33 billion from $1.06 billion, while gross margin expanded to 5.6% from 4.8%. Selling, general and administrative expenses declined 10.8% to $605 million.
Adjusted total EBIT increased 11.8% to $846 million from $757 million. The corresponding margin improved to 3.6% from 3.4%, reflecting stronger profitability despite ongoing geopolitical and trade uncertainties.
Bunge's Soybean Processing Gains
Soybean Processing and Refining sales increased 5.4% year over year to $11.44 billion. Adjusted segment EBIT advanced 18.2% to $565 million from $478 million, reflecting stronger processing performance across key regions.
North America was the largest contributor to the improvement, supported by stronger processing results, partially offset by lower refining performance. In South America, improved processing in Argentina and Brazil was partly offset by weaker fertilizer and refining results.
Soybean processing volumes declined 3.2% to 11,745 thousand metric tons. Lower processing volumes in South America and Asia were partially offset by higher European volumes, while U.S. processing volumes remained stable. Merchandised volumes declined to 5,274 thousand metric tons from 7,246 thousand metric tons.
BG's Softseed Processing Momentum
Softseed Processing and Refining sales rose 17.5% year over year to $4.30 billion. Adjusted segment EBIT increased 19.6% to $329 million from $275 million, driven primarily by stronger North American processing and refining performance. Processing results improved across all regions amid a more favorable margin environment. In Europe, stronger processing partially offset weaker refining and biodiesel results. Argentina witnessed lower processing and refining performance.
Softseed processing volumes increased to 3,606 thousand metric tons from 3,129 thousand metric tons. Refined softseed oil production rose to 872 thousand metric tons from 711 thousand metric tons. Global distribution results weakened, partly offset by stronger canola origination in Canada and Australia.
Bunge's Other Segment Trends
Tropical Oils and Specialty Ingredients sales increased 7.3% year over year to $1.30 billion. However, adjusted segment EBIT declined 68.6% to $16 million from $51 million. Volumes increased to 674 thousand metric tons from 639 thousand metric tons. Results were pressured by geopolitical trade disruptions, commissioning expenses, plant transition costs and ramp-up activities associated with tropical oils and soy protein concentrate operations. Stronger global tropical oils merchandising provided some support.
Grain Merchandising and Milling sales increased 5.2% to $6.76 billion. However, adjusted segment EBIT declined 27.5% to $87 million from $120 million. Higher global grain merchandising and commercial services results were more than offset by weaker ocean freight, sugar and wheat milling performance.
BG's Cash Flow and Balance Sheet Updates
Cash used for operating activities totaled $2.30 billion in the first nine months of 2026 compared with $503 million in the year-ago period. The higher outflow primarily reflected working capital changes, partially offset by increased net income and depreciation following the Viterra transaction.
Adjusted funds from operations increased to $2.01 billion from $1.18 billion. At September-end, cash and cash equivalents stood at $524 million compared with $1.14 billion at 2025-end. Short-term debt increased to $6.47 billion from $3.88 billion.
Bunge Maintains 2026 Earnings Outlook
Bunge maintained its full-year 2026 adjusted earnings guidance of $9.25-$9.75 per share. The company expects slightly lower Soybean Processing and Refining results and weaker Tropical Oils and Specialty Ingredients performance than previously anticipated.
Meanwhile, expectations for Grain Merchandising and Milling improved, while Softseed Processing and Refining and Corporate and Other forecasts remained unchanged.
The company now projects an adjusted effective tax rate of 23-25% compared with its previous expectation of 22-26%. Net interest expense is expected to range between $640 million and $670 million, up from the earlier $620-$660 million forecast. Capital expenditures are anticipated toward the higher end of the $1.5-$1.7 billion range. Depreciation and amortization are projected at approximately $975 million.
Bunge Stock’s Price Performance & Zacks Rank
Shares of Bunge have gained 4.9% in a year against the industry's 8.8% decline.
Archer Daniels Midland Company (ADM - Free Report) , scheduled to release third-quarter 2026 results on Nov. 3, has a trailing four-quarter average earnings surprise of 11.3%. The Zacks Consensus Estimate for Archer Daniels Midland’s earnings for the quarter is pegged at $1.63 per share, implying year-over-year growth of 77.2%.
The consensus estimate for Archer Daniels Midland’s revenues is pegged at $22.67 billion, indicating a rise of 11.3% from the prior-year figure. Archer Daniels Midland currently carries a Zacks Rank #2 (Buy).
Corteva, Inc. (CTVA - Free Report) , scheduled to release third-quarter 2026 earnings on Nov. 11, has a trailing four-quarter average earnings surprise of 21.91%. The Zacks Consensus Estimate for Corteva’s earnings for the quarter suggests a break-even performance. Corteva had reported a loss of 23 cents in the year-ago quarter.
The consensus estimate for Corteva’s revenues is pegged at $1.77 billion, indicating a decline of 32.5% from the prior-year figure. Corteva currently carries a Zacks Rank #5 (Strong Sell).
The Scotts Miracle-Gro Company (SMG - Free Report) , scheduled to release third-quarter 2026 results on Nov. 4, has a trailing four-quarter average earnings surprise of 11.8%. The Zacks Consensus Estimate for Scotts Miracle-Gro’s earnings for the quarter is a loss of $2.22 per share. SMG had reported a loss of $1.96 in the year-ago quarter.
The consensus estimate for Scotts Miracle-Gro’s revenues is pegged at $307.9 million, indicating a 20% decline from the prior-year figure. SMG currently carries a Zacks Rank of 4.
View the Zacks #1 Rank List
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BG Q3 Earnings Beat on Strong Soybean and Softseed Results
Key Takeaways
Bunge Global SA (BG - Free Report) reported third-quarter 2026 adjusted earnings of $2.56 per share, up 12.8% year over year. The figure beat the Zacks Consensus Estimate of $2.45 by 4.49%. Strong performance in the Soybean and Softseed Processing and Refining segments drove the results.
Including one-time items, earnings from continuing operations were $1.64 per share compared with 86 cents in the year-ago quarter.
Net sales increased 7.4% to $23.80 billion, surpassing the consensus mark of $23.08 billion by 3.15%. Softseed processing volumes increased 15.2%, supported by favorable margins.
Bunge Global SA Price, Consensus and EPS Surprise
Bunge Global SA price-consensus-eps-surprise-chart | Bunge Global SA Quote
BG's Cost and Margin Picture
Cost of goods sold increased 6.5% year over year to $22.47 billion. Gross profit climbed 25.3% to $1.33 billion from $1.06 billion, while gross margin expanded to 5.6% from 4.8%. Selling, general and administrative expenses declined 10.8% to $605 million.
Adjusted total EBIT increased 11.8% to $846 million from $757 million. The corresponding margin improved to 3.6% from 3.4%, reflecting stronger profitability despite ongoing geopolitical and trade uncertainties.
Bunge's Soybean Processing Gains
Soybean Processing and Refining sales increased 5.4% year over year to $11.44 billion. Adjusted segment EBIT advanced 18.2% to $565 million from $478 million, reflecting stronger processing performance across key regions.
North America was the largest contributor to the improvement, supported by stronger processing results, partially offset by lower refining performance. In South America, improved processing in Argentina and Brazil was partly offset by weaker fertilizer and refining results.
Soybean processing volumes declined 3.2% to 11,745 thousand metric tons. Lower processing volumes in South America and Asia were partially offset by higher European volumes, while U.S. processing volumes remained stable. Merchandised volumes declined to 5,274 thousand metric tons from 7,246 thousand metric tons.
BG's Softseed Processing Momentum
Softseed Processing and Refining sales rose 17.5% year over year to $4.30 billion. Adjusted segment EBIT increased 19.6% to $329 million from $275 million, driven primarily by stronger North American processing and refining performance.
Processing results improved across all regions amid a more favorable margin environment. In Europe, stronger processing partially offset weaker refining and biodiesel results. Argentina witnessed lower processing and refining performance.
Softseed processing volumes increased to 3,606 thousand metric tons from 3,129 thousand metric tons. Refined softseed oil production rose to 872 thousand metric tons from 711 thousand metric tons. Global distribution results weakened, partly offset by stronger canola origination in Canada and Australia.
Bunge's Other Segment Trends
Tropical Oils and Specialty Ingredients sales increased 7.3% year over year to $1.30 billion. However, adjusted segment EBIT declined 68.6% to $16 million from $51 million. Volumes increased to 674 thousand metric tons from 639 thousand metric tons.
Results were pressured by geopolitical trade disruptions, commissioning expenses, plant transition costs and ramp-up activities associated with tropical oils and soy protein concentrate operations. Stronger global tropical oils merchandising provided some support.
Grain Merchandising and Milling sales increased 5.2% to $6.76 billion. However, adjusted segment EBIT declined 27.5% to $87 million from $120 million. Higher global grain merchandising and commercial services results were more than offset by weaker ocean freight, sugar and wheat milling performance.
BG's Cash Flow and Balance Sheet Updates
Cash used for operating activities totaled $2.30 billion in the first nine months of 2026 compared with $503 million in the year-ago period. The higher outflow primarily reflected working capital changes, partially offset by increased net income and depreciation following the Viterra transaction.
Adjusted funds from operations increased to $2.01 billion from $1.18 billion. At September-end, cash and cash equivalents stood at $524 million compared with $1.14 billion at 2025-end. Short-term debt increased to $6.47 billion from $3.88 billion.
Bunge Maintains 2026 Earnings Outlook
Bunge maintained its full-year 2026 adjusted earnings guidance of $9.25-$9.75 per share. The company expects slightly lower Soybean Processing and Refining results and weaker Tropical Oils and Specialty Ingredients performance than previously anticipated.
Meanwhile, expectations for Grain Merchandising and Milling improved, while Softseed Processing and Refining and Corporate and Other forecasts remained unchanged.
The company now projects an adjusted effective tax rate of 23-25% compared with its previous expectation of 22-26%. Net interest expense is expected to range between $640 million and $670 million, up from the earlier $620-$660 million forecast.
Capital expenditures are anticipated toward the higher end of the $1.5-$1.7 billion range. Depreciation and amortization are projected at approximately $975 million.
Bunge Stock’s Price Performance & Zacks Rank
Shares of Bunge have gained 4.9% in a year against the industry's 8.8% decline.
Image Source: Zacks Investment Research
Bunge currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Bunge’s Industry Peers Awaiting Results
Archer Daniels Midland Company (ADM - Free Report) , scheduled to release third-quarter 2026 results on Nov. 3, has a trailing four-quarter average earnings surprise of 11.3%. The Zacks Consensus Estimate for Archer Daniels Midland’s earnings for the quarter is pegged at $1.63 per share, implying year-over-year growth of 77.2%.
The consensus estimate for Archer Daniels Midland’s revenues is pegged at $22.67 billion, indicating a rise of 11.3% from the prior-year figure. Archer Daniels Midland currently carries a Zacks Rank #2 (Buy).
Corteva, Inc. (CTVA - Free Report) , scheduled to release third-quarter 2026 earnings on Nov. 11, has a trailing four-quarter average earnings surprise of 21.91%. The Zacks Consensus Estimate for Corteva’s earnings for the quarter suggests a break-even performance. Corteva had reported a loss of 23 cents in the year-ago quarter.
The consensus estimate for Corteva’s revenues is pegged at $1.77 billion, indicating a decline of 32.5% from the prior-year figure. Corteva currently carries a Zacks Rank #5 (Strong Sell).
The Scotts Miracle-Gro Company (SMG - Free Report) , scheduled to release third-quarter 2026 results on Nov. 4, has a trailing four-quarter average earnings surprise of 11.8%. The Zacks Consensus Estimate for Scotts Miracle-Gro’s earnings for the quarter is a loss of $2.22 per share. SMG had reported a loss of $1.96 in the year-ago quarter.
The consensus estimate for Scotts Miracle-Gro’s revenues is pegged at $307.9 million, indicating a 20% decline from the prior-year figure. SMG currently carries a Zacks Rank of 4.