Bunge Q2: Sales Plunge 16%, Beats On EPS, Boosts FY23 EPS Outlook & More
Portfolio Pulse from Shivani Kumaresan
Bunge Ltd (NYSE:BG) reported a 16.1% YoY decline in Q2 FY23 sales to $15.05 billion, missing the analyst consensus of $16.18 billion. However, the company beat EPS estimates with $3.72 against the expected $2.61. Bunge also raised its FY23 EPS outlook to $11.75 from $11. The company's shares are trading higher by 1.90% in premarket.
August 04, 2023 | 11:15 am
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POSITIVE IMPACT
Bunge's Q2 FY23 sales declined but it beat EPS estimates and raised its FY23 EPS outlook. This news has led to a premarket increase in the company's share price.
Bunge's sales decline could have a negative impact on the stock. However, the company beat EPS estimates and raised its FY23 EPS outlook, which are positive signals for investors. This has led to a premarket increase in the company's share price, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100