Bunge (BG) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Bunge (BG) reported revenue of $14.23 billion, down 15.1% over the same period last year. EPS came in at $2.99, compared to $3.45 in the year-ago quarter.
The reported revenue represents a surprise of -3.66% over the Zacks Consensus Estimate of $14.77 billion. With the consensus EPS estimate being $2.37, the EPS surprise was +26.16%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bunge performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Volumes - Agribusiness: 18,854 Kmt versus 18,684.18 Kmt estimated by two analysts on average.
Volumes - Milling products: 890 Kmt compared to the 879.23 Kmt average estimate based on two analysts.
Volumes - Refined & Specialty Oils: 2,278 Kmt versus 2,258.1 Kmt estimated by two analysts on average.
Net sales to external customers- Agribusiness: $10.08 billion versus the two-analyst average estimate of $10.13 billion. The reported number represents a year-over-year change of -14.1%.
Net sales to external customers- Milling products: $479 million versus $435.99 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -24.1% change.
Net sales to external customers- Refined & Specialty Oils: $3.60 billion versus $3.85 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -16.3% change.
Net sales to external customers- Sugar and Bioenergy: $56 million versus $65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -24.3% change.
Adjusted Segment EBIT- Corporate and Other: -$114 million compared to the -$99 million average estimate based on two analysts.
Adjusted Segment EBIT- Refined & Specialty Oils: $230 million versus $192.27 million estimated by two analysts on average.
Adjusted Segment EBIT- Milling products: $33 million versus $16.95 million estimated by two analysts on average.
Adjusted Segment EBIT- Agribusiness- Merchandising: $48 million versus $97.56 million estimated by two analysts on average.
Adjusted Segment EBIT- Sugar & Bioenergy: $55 million versus the two-analyst average estimate of $21.50 million.
View all Key Company Metrics for Bunge here>>>
Shares of Bunge have returned -6.7% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Bunge Limited (BG) : Free Stock Analysis Report
