Bunge Q1 Adj. Profit Rises; Increases Earnings Outlook

(RTTNews) - Bunge Limited (BG) reported first quarter adjusted net income per share of $3.13 compared to $0.91, prior year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.54, for the quarter. Analysts' estimates typically exclude special items.

First quarter net income attributable to Bunge was $831 compared to a loss of $184 million, previous year. Profit per share was $5.52 compared to a loss of $1.46.

First quarter net sales increased to $12.96 billion from $9.17 billion, last year. Analysts expected revenue of $10.35 billion, for the quarter.

For 2021, the company now expects adjusted EPS of approximately $7.50 per share.

Bunge Limited said its Board has declared a quarterly cash dividend of $0.525 per share on its common shares, which is a 5% increase. The dividend is payable on September 2, 2021 to shareholders of record on August 19, 2021.

Shares of Bunge Limited were up 2% in pre-market trade on Tuesday.