FX.co ★ Bunge Global Q1 Net Income Declines

Bunge Global SA (BG) has reported a decrease in first quarter net income attributed to Bunge, falling to $244 million from last year's $632 million. The net income per share also saw a decline, dropping from $4.15 to $1.68. Despite adjusting the net income per share, it also fell to $3.04 from $3.26. A poll conducted by Thomson Reuters, in which 11 analysts participated, anticipated the company's profit per share for this quarter to hit $2.53. Special items are usually excluded in the analysts' estimates.

The company's first quarter net sales also declined as compared to last year, amounting to $13.42 billion as opposed to the $15.33 billion recorded in the same period last year. The average revenue estimate predicted by analysts was $13.96 billion.

Moreover, Bunge Global SA (BG) is holding steady on its adjusted full-year earnings per share (EPS) forecast, at approximately $9.00. Following the same trend, analysts are expecting the company's profit per share to reach $9.39.

On a final note, Bunge Global shares dipped by 2% in Wednesday's pre-market trade.