Bunge Q2 Profit Down; Lifts FY Adj. EPS Outlook

(RTTNews) - Bunge Limited (BG) reported second quarter net income attributable to the company of $206 million or $1.34 per share down from $362 million or $2.37 per share in the prior year.

Adjusted net income per common share was $2.97 compared to $2.61 in the previous year.

The company now forecasts full-year 2022 adjusted earnings of at least $12 per share, with potential upside depending on the market environment and supply and demand balance. The company said it April that it expected full-year 2022 adjusted earnings of at least $11.50 per share.

The company has also introduced an earnings framework of approximately $11 per share by the end of 2026, which builds on its increased mid-cycle earnings baseline of $8.50 per share, plus approximately $3.3 billion of projected future investments in growth capex and M&A, and approximately $1.25 billion of share repurchases through the period.

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