Bunge Keeps 2026 Adjusted Earnings Range After Third Quarter

The Tip Desk · October 31, 2026 · 4 min read

Adjusted diluted EPS from continuing operations was $2.56 a share, and the company held its full-year outlook at $9.25 to $9.75.

Bunge Global SA (BG) reported third-quarter GAAP diluted earnings from continuing operations of $1.64 a share, compared with $0.86 a year earlier, and adjusted diluted EPS of $2.56, versus $2.27.

The agribusiness solutions provider kept its full-year 2026 adjusted EPS outlook at $9.25 to $9.75 after the quarter. That range had been lifted from $9.00 to $9.50 after the second quarter.

Net income attributable to Bunge was $318 million in the three months ended September 30, 2026, versus $166 million a year earlier. Adjusted Segment EBIT was $997 million, versus $924 million. Adjusted Total EBIT was $846 million, versus $757 million.

Soybean Processing and Refining remained the largest earnings contributor. Segment EBIT was $547 million, versus $337 million a year earlier; adjusted Segment EBIT was $565 million, versus $478 million. Net sales were $11.442 billion. Soybeans processed were 11,745 thousand metric tons, versus 12,139 thousand metric tons a year earlier, and soybeans merchandised were 5,274 thousand metric tons, versus 7,246 thousand metric tons. The company said North America was the largest contributor to the improved performance, driven by stronger processing results, partially offset by lower refining.

Softseed Processing and Refining also improved. Segment EBIT was $353 million, versus $236 million a year earlier; adjusted Segment EBIT was $329 million, versus $275 million. Net sales were $4.302 billion. Softseeds processed were 3,606 thousand metric tons, versus 3,129 thousand metric tons, and refined softseed oil production was 872 thousand metric tons, versus 711 thousand metric tons. The company said North America processing and refining were the primary drivers, and that softseed processing volumes increased across all regions, supported by a more favorable margin environment.

Tropical Oils and Specialty Ingredients was the offset. Segment EBIT was $13 million, versus $77 million a year earlier; adjusted Segment EBIT was $16 million, versus $51 million. Net sales were $1.295 billion. The company said results were lower in North America, Europe and Asia, primarily driven by near-term margin impacts associated with geopolitical trade disruptions, along with commissioning, ramp-up and plant transition costs related to both tropical oils and soy protein concentrate businesses.

Grain Merchandising and Milling swung to a $74 million Segment EBIT loss, versus income of $21 million a year earlier. Adjusted Segment EBIT was $87 million, versus $120 million. Net sales were $6.764 billion. The company said higher results in global grain merchandising and commercial services were more than offset by lower results in ocean freight, sugar and wheat milling.

Grain Merchandising and Milling EBIT included $82 million of charges related to the announced sale of two sugarcane mills in Brazil, including $66 million of impairment charges and $16 million of hedge losses. Softseed Processing and Refining EBIT included $10 million of Ukraine-Russia war charges, primarily inventory damage.

Corporate and Other EBIT was a $172 million loss, versus a $268 million loss a year earlier; adjusted Corporate and Other EBIT was a $151 million loss, versus a $167 million loss. The company said the decrease in Corporate expenses was primarily driven by performance-based compensation and favorable foreign exchange impacts.

Taking into account third-quarter results, the current margin and macro environment and forward curves, Bunge continues to expect full-year 2026 adjusted EPS in the range of $9.25 to $9.75. Compared with its previous full-year outlook, the company said it now expects Soybean Processing and Refining results slightly lower, Softseed Processing and Refining unchanged, Tropical Oils and Specialty Ingredients lower, Grain Merchandising and Milling higher, and Corporate and Other unchanged.

The company now expects an adjusted annual effective tax rate of 23% to 25%, compared with a previous range of 22% to 26%, and net interest expense of $640 million to $670 million, compared with a previous range of $620 million to $660 million. It said it expects capital expenditures toward the higher end of the $1.5 billion to $1.7 billion range and depreciation and amortization of approximately $975 million.

Following quarter-end, Bunge started production at Bunge Chevron Ag Renewables’ new oilseed processing line in Destrehan, La. Chief Executive Officer Greg Heckman said the company continued to advance value-creation priorities, including Viterra-related synergies.