Bunge earnings: guidance and what to watch
MyStockButler's October 2026 analysis: Bunge's next results are expected on February 3, 2027. Watch whether new plants ramp profitably and Viterra savings appear in results.
What has Bunge guided for 2026?
On October 29, 2026, management guided to adjusted EPS of $9.25–$9.75 for 2026. Its promises record is 3/5: adjusted EPS was above or within its forecast in all five years reviewed.
Cash contradicted the stronger profit line: the quarter used $1.176 billion in operating cash and $384 million in capital spending. Bunge maintained its full-year adjusted EPS outlook of $9.25–$9.75 while lowering some processing expectations and raising others.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| Adjusted EPS | Year to Dec 2026 | 9.25 | 9.75 | Oct 29, 2026 |
| Adjusted annual effective tax rate | Year to Dec 2026 | 23.0% | 25.0% | Oct 29, 2026 |
| Net interest expense | Year to Dec 2026 | 640 | 670 | Oct 29, 2026 |
| Capital expenditures | Year to Dec 2026 | 1,500 | 1,700 | Oct 29, 2026 |
| Cost synergies — savings | Year to Dec 2026 | 200 | Oct 29, 2026 |
What this means. The three per-share amounts for 2027 are added improvements compared with 2026, not the company's total earnings per share.
What promises has Bunge kept?
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| adjusted EPS | 5 years | 4 | 1 | 0 |
| adjusted annual effective tax rate | 5 years | 0 | 2 | 3 |
| capital expenditures | 5 years | 2 | 1 | 2 |
What is Bunge's revenue and profit trend?
In the September 2026 quarter, revenue rose to $23.8 billion from $22.2 billion a year earlier. Diluted EPS from continuing operations increased to $1.64 from $0.86. Operating cash flow remained negative at $1.176 billion. Soybean-processing earnings improved even as volume fell to 11.745 million metric tons from 12.139 million.
Revenue, gross margin, operating income and net income all improved from the year-earlier quarter. Soybean processing and refining led the gain: adjusted segment EBIT rose even though soybean-processing volume fell. That suggests better realised processing economics, not simply more tons moving through the plants.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23,804 | 24,041 | 21,861 | 23,762 | 22,155 | 12,769 | 11,643 | 13,542 |
| Gross margin | 5.6% | 7.0% | 3.5% | 4.3% | 4.8% | 5.8% | 5.1% | 8.0% |
| Operating margin | 2.8% | 4.4% | 0.8% | 1.1% | 1.8% | 4.2% | 2.8% | 5.7% |
| EPS, diluted, from continuing operations | 1.64 | 3.47 | 0.35 | 0.49 | 0.86 | 2.61 | 1.48 | 4.36 |
| Free cash flow | -1,560 | -1,028 | -877 | 809 | 385 | -1,478 | -595 | 564 |
What this means. Revenue is not directly comparable across quarters because the company added Viterra's sales starting in July 2025.
What should Bunge watch next?
Next, watch Westzaan’s planned first-quarter 2027 start, Morristown’s customer approvals and Destrehan’s sustained production. Together, these milestones test the promised $0.50-per-share improvement from growth projects. The same applies to Viterra: the additional cost and commercial synergies must appear in results, not merely in management’s plan.