Bunge Reiterates FY24 Adjusted EPS Outlook Of At Least $9.25 Vs. $9.41 Estimate; In Agribusiness Results Are Forecasted To Be Up Slightly But Down Compared To Last Year
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Bunge has reiterated its FY24 adjusted EPS outlook of at least $9.25, slightly below the $9.41 estimate. Agribusiness results are expected to be slightly up from previous forecasts but down from last year. Refined and Specialty Oils are expected to improve from previous forecasts but remain below last year's record. Milling results are expected to decline from previous forecasts but improve from last year. Non-Core results are expected to drop significantly due to a joint venture sale. The company also provided guidance on tax rates, interest expenses, capital expenditures, and depreciation.
October 30, 2024 | 10:10 am
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Bunge reiterated its FY24 adjusted EPS outlook of at least $9.25, slightly below the $9.41 estimate. Agribusiness and Oils segments show mixed results, with Non-Core significantly down due to a joint venture sale.
Bunge's reiteration of its FY24 EPS outlook at $9.25, below the $9.41 estimate, suggests a neutral short-term impact on stock prices. The mixed results across segments, with Agribusiness and Oils showing some improvement but Non-Core significantly down, indicate no major positive or negative catalyst. The sale of a joint venture impacts Non-Core results negatively, but overall guidance remains stable.
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