Global agribusiness company Bunge Global (NYSE: BG) will be reporting results this Thursday before market hours. Here’s what to look for.
Bunge Global beat analysts’ revenue expectations last quarter, reporting revenues of $24.04 billion, up 88.3% year on year. It was a strong quarter for the company, with a solid beat of analysts’ gross margin estimates and a beat of analysts’ EPS estimates.
Is Bunge Global a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bunge Global’s revenue to grow 1.8% year on year, slowing from the 71.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Bunge Global has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Bunge Global’s peers in the consumer staples segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vita Coco delivered year-on-year revenue growth of 33.7%, beating analysts’ expectations by 6.1%, and Coca-Cola reported revenues up 7.6%, topping estimates by 3.7%. Vita Coco traded down 11% following the results.
Read our full analysis of Vita Coco’s results here and Coca-Cola’s results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 2.9% on average over the last month. Bunge Global is down 6% during the same time and is heading into earnings with an average analyst price target of $140.56 (compared to the current share price of $102.55).
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