The company said net income attributable to Bunge for Q2 2024 was $70 million, down $552 million from $622 million a year earlier, and Total Segment EBIT fell $727 million to $185 million. It cited lower Segment EBIT in the Core and Non-core segments as the factors.

10-QQuarterly reportFiled Aug 1, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said net income attributable to Bunge for Q2 2024 was $70 million, down $552 million from $622 million a year earlier, and Total Segment EBIT fell $727 million to $185 million. It cited lower Segment EBIT in the Core and Non-core segments as the factors.
Bunge said Agribusiness segment Net sales for Q2 fell 11% to $9,657 million, and Segment EBIT fell 82% to $138 million. The company cited lower Gross profit in Processing, driven by lower soybean crush margins, as the factor.
The company said acquisition and integration costs related to the Viterra acquisition in Corporate and Other were $62 million for Q2 2024 (compared with $18 million a year earlier) and $123 million for the first half (compared with $18 million a year earlier). It also said it had secured a total of $8.0 billion in Acquisition Financing.
The company said it used cash of $480 million in operating activities in the first half of 2024 (compared with cash provided of $472 million a year earlier). Over the same period, it repurchased 4,376,974 shares for $400 million and paid $191 million in dividends to shareholders.

Key figures

Quarter ended June 30, 2024

Revenue: $13.2B
Net income: $70M
EPS: $0.48
Gross profit: $664M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly Net Income and Total Segment EBIT Decline

The company said net income attributable to Bunge for Q2 2024 was $70 million, down $552 million from $622 million a year earlier, and Total Segment EBIT fell $727 million to $185 million. It cited lower Segment EBIT in the Core and Non-core segments as the factors.

Source · Based on the MD&A text of the filing

Agribusiness Segment Quarterly Segment EBIT Decline

Bunge said Agribusiness segment Net sales for Q2 fell 11% to $9,657 million, and Segment EBIT fell 82% to $138 million. The company cited lower Gross profit in Processing, driven by lower soybean crush margins, as the factor.

Source · Based on the MD&A text of the filing

Viterra Acquisition Costs and Acquisition Financing

The company said acquisition and integration costs related to the Viterra acquisition in Corporate and Other were $62 million for Q2 2024 (compared with $18 million a year earlier) and $123 million for the first half (compared with $18 million a year earlier). It also said it had secured a total of $8.0 billion in Acquisition Financing.

Source · Based on the MD&A text of the filing

First-Half Operating Cash Use and Shareholder Returns

The company said it used cash of $480 million in operating activities in the first half of 2024 (compared with cash provided of $472 million a year earlier). Over the same period, it repurchased 4,376,974 shares for $400 million and paid $191 million in dividends to shareholders.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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