Bunge reports stronger Q3 2026 earnings driven by processing margins

USA – Bunge Global SA reported higher earnings in the third quarter of 2026, supported by improved soybean and softseed processing, stronger refining operations, and continued benefits from its expanded global agricultural network following the integration of Viterra.

For the quarter ended September 30, 2026, Bunge recorded net income attributable to the company of US$318 million, compared with US$166 million in the corresponding period of 2025.

Diluted earnings per share from continuing operations increased to US$1.64 from US$0.86, while adjusted diluted earnings per share rose to US$2.56 from US$2.27.

The company’s adjusted segment earnings before interest and tax (EBIT) increased to US$997 million from US$924 million a year earlier, reflecting improved operating performance across its major oilseed processing businesses.

Soybean Processing and Refining remained a major contributor, recording segment EBIT of US$547 million, compared with US$337 million in the third quarter of 2025.

Improved processing results in North America, Argentina and Brazil supported the growth, although lower refining performance in some markets and weaker global soybean oil merchandising partially offset the gains.

Softseed Processing and Refining also delivered stronger results, with segment EBIT increasing to US$353 million from US$236 million.

Higher processing volumes across regions, supported by more favourable margins, helped drive the improvement.

North American processing and refining operations were the main contributors, while stronger canola origination in Canada and Australia supported the wider business.

However, the Tropical Oils and Specialty Ingredients segment experienced weaker performance, with EBIT declining to US$13 million from US$77 million.

The company attributed the decline to geopolitical trade disruptions, commissioning and ramp-up expenses, and plant transition costs associated with its tropical oils and soy protein concentrate operations.

The Grain Merchandising and Milling segment recorded an EBIT loss of US$74 million, compared with a profit of US$21 million in the previous year’s quarter.

Despite improved global grain merchandising and commercial services, weaker ocean freight and sugar and wheat milling results affected performance.

The segment also absorbed US$82 million in charges associated with the announced sale of two sugarcane mills in Brazil.

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Beyond its quarterly financial performance, Bunge continued advancing its strategic priorities, particularly capturing synergies from the Viterra acquisition and strengthening its global processing network.

After the reporting quarter ended, Bunge Chevron Ag Renewables also began production on a new oilseed processing line at its Destrehan, Louisiana, facility, expanding its capabilities in renewable fuel feedstock production.

Chief Executive Officer Greg Heckman said the company delivered strong quarterly results through disciplined execution despite geopolitical uncertainty, changing trade flows and evolving government policies.

He added that Bunge’s diversified global operations positioned it to manage market risks while pursuing growth opportunities across food, feed and fuel markets.

Looking ahead, Bunge maintained its full-year 2026 adjusted earnings per share forecast of US$9.25 to US$9.75.

The company expects slightly lower results from soybean processing and refining, while its outlook for softseed processing remains unchanged.

Expectations for grain merchandising and milling improved, although tropical oils and specialty ingredients are forecast to deliver weaker results.

Bunge also expects capital expenditure to approach the higher end of its previously announced US$1.5 billion to US$1.7 billion range, reflecting continued investment in operational capacity and strategic growth projects.

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