Bunge Crush Margins Boost Agribusiness Unit

Bungereported a stronger-than-expected 17.1% jump in adjustedquarterly profit周三一样大oilseed crops in North America and Europe and strong demand for processed meal and oil bolstered its core agribusiness unit.

According to a report atReuters,that strength would carry into 2022, the global farm commodities trader forecast, amid rising demand for food and biofuel and tightening crop supplies, although the segment would likely not match last year's record performance.

“Our strong 2021 performance reflects our talented team and the power of our global platform, demonstrating the impact of the improvements we have made over the last three years,"Greg Heckman, Bunge's CEO, said in a release.

"With focus and discipline, we capitalized on changing market conditions, achieved a number of operational milestones, made investments in key growth areas and advanced toward ESG goals.

“Looking forward, we are confident in our ability to capture the opportunities ahead of us, while continuously improving and growing our business to maximize the expanding potential of Bunge.”

Highlights of the report:

• Full-year GAAP EPS of $13.64 vs. $7.71 in the prior year; $12.93 vs. $8.30 on an adjusted basis excluding certain gains and charges and mark-to-market timing differences
• Q4 GAAP EPS of $1.52 vs. $3.74 in the prior year; $3.49 vs. $3.05 on an adjusted basis excluding certain gains and charges and mark-to-market timing differences
• Outstanding Q4 and full year performance across Bunge’s operations
• Agribusiness results driven by strong execution throughout the value chains
• Refined and Specialty Oils posted record Q4 and full year results
• Expect favorable market environment to continue in 2022

Bunge expects 2022 adjusted earnings of at least $9.50/share, which the company said would be the second-highest in the its recent history.