Global agribusiness company Bunge Global (NYSE: BG) will be reporting results this Wednesday before market hours. Here’s what to expect.
Bunge Global beat analysts’ revenue expectations last quarter, reporting revenues of $23.76 billion, up 75.5% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ gross margin 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 93.7% year on year, a reversal from the 13.2% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Cal-Maine’s revenues decreased 53% year on year, beating analysts’ expectations by 3.8%, and Lamb Weston reported revenues up 2.9%, topping estimates by 5.2%. Cal-Maine traded down 1.3% following the results while Lamb Weston was also down 6.9%.
Read our full analysis of Cal-Maine’s results here and Lamb Weston’s results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 4.1% on average over the last month. Bunge Global is down 1.2% during the same time and is heading into earnings with an average analyst price target of $135.56 (compared to the current share price of $124.77).
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