Bunge Global SA Files 10-Q for Period Ending March 31, 2024
Ticker: BG · Form: 10-Q · Filed: 2024-04-24T00:00:00.000Z
Sentiment: neutral
Topics: Bunge Global SA, 10-Q, Q1 2024, Financial Report, Fats & Oils
TL;DR
<b>Bunge Global SA has filed its Q1 2024 10-Q report.</b>
AI Summary
Bunge Global SA (BG) filed a Quarterly Report (10-Q) with the SEC on April 24, 2024. Bunge Global SA filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Bunge Global SA is incorporated in V8 and headquartered in Geneva. The SIC code for Bunge Global SA is 2070 (Fats & Oils).
Why It Matters
For investors and stakeholders tracking Bunge Global SA, this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Bunge Global SA. Understanding the Q1 2024 results is crucial for assessing the company's trajectory and making informed investment decisions.
Risk Assessment
Risk Level: low — Bunge Global SA shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.
Analyst Insight
Review the detailed financial statements and management discussion within the 10-Q to understand Bunge Global SA's performance in Q1 2024.
Key Numbers
- 2024-03-31 — Period of Report (Quarterly report filing)
- 2024-04-24 — Filed As Of Date (Quarterly report filing)
- 2024-01-01 — Quarter Start Date (Q1 2024 reporting period)
- 2023-03-31 — Prior Year Q1 End Date (Comparative period)
Key Players & Entities
- Bunge Global SA (company) — Filer
- 2024-03-31 (date) — Period of Report
- 2024-04-24 (date) — Filed as of date
- Geneva (location) — Business Address City
- 2070 (industry_code) — Standard Industrial Classification
- 1934 Act (regulation) — SEC Act
- 000-56607 (identifier) — SEC File Number
- 24871109 (identifier) — Film Number
FAQ
When did Bunge Global SA file this 10-Q?
Bunge Global SA filed this Quarterly Report (10-Q) with the SEC on April 24, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Bunge Global SA (BG).
Where can I read the original 10-Q filing from Bunge Global SA?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Bunge Global SA.
What are the key takeaways from Bunge Global SA's 10-Q?
Bunge Global SA filed this 10-Q on April 24, 2024. Key takeaways: Bunge Global SA filed a 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. The company's fiscal year ends on December 31st..
Is Bunge Global SA a risky investment based on this filing?
Based on this 10-Q, Bunge Global SA presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.
What should investors do after reading Bunge Global SA's 10-Q?
Review the detailed financial statements and management discussion within the 10-Q to understand Bunge Global SA's performance in Q1 2024. The overall sentiment from this filing is neutral.
How does Bunge Global SA compare to its industry peers?
Bunge Global SA operates within the fats and oils industry, a sector focused on the processing and trading of agricultural commodities.
Are there regulatory concerns for Bunge Global SA?
The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.
Industry Context
Bunge Global SA operates within the fats and oils industry, a sector focused on the processing and trading of agricultural commodities.
Regulatory Implications
The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.
What Investors Should Do
- Analyze Bunge Global SA's financial statements for Q1 2024.
- Compare Q1 2024 performance against prior periods and industry benchmarks.
- Identify any new disclosures or risk factors mentioned in the filing.
Key Dates
- 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
- 2024-04-24: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Year-Over-Year Comparison
This is the initial 10-Q filing for the fiscal year 2024, following the previous 10-K filing for fiscal year 2023.
Filing Stats: 4,732 words · 19 min read · ~16 pages · Grade level 16.2 · Accepted 2024-04-24 16:35:48
Key Financial Figures
- $0.01 — on which registered Registered Shares, $0.01 par value per share BG New York Stock E
Filing Documents
- bg-20240331.htm (10-Q) — 2100KB
- ex22bloom-bcaamendment.htm (EX-2.2) — 40KB
- bg-03312024x10qex2211.htm (EX-22.1) — 7KB
- bg-03312024x10qex3111.htm (EX-31.1) — 9KB
- bg-03312024x10qex3121.htm (EX-31.2) — 9KB
- bg-03312024x10qex3211.htm (EX-32.1) — 6KB
- bg-03312024x10qex3221.htm (EX-32.2) — 6KB
- image_0.jpg (GRAPHIC) — 29KB
- image_1.jpg (GRAPHIC) — 2KB
- 0001996862-24-000094.txt ( ) — 11774KB
- bg-20240331.xsd (EX-101.SCH) — 81KB
- bg-20240331_cal.xml (EX-101.CAL) — 115KB
- bg-20240331_def.xml (EX-101.DEF) — 388KB
- bg-20240331_lab.xml (EX-101.LAB) — 899KB
- bg-20240331_pre.xml (EX-101.PRE) — 621KB
- bg-20240331_htm.xml (XML) — 2237KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Income (Loss) for the Three Months Ended March 3 1 , 202 4 and 202 3 3 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 3 1 , 202 4 and 202 3 4 Condensed Consolidated Balance Sheets as of March 3 1 , 202 4 and December 31, 202 3 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 3 1 , 202 4 and 202 3 6 Condensed Consolidated Statements of Changes in Equity and Redeemable Noncontrolling Interests for the Three Months Ended March 3 1 , 202 4 and 202 3 7 Notes to the Condensed Consolidated Financial Statements 8 Cautionary Statement Regarding Forward Looking Statements 34
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 35
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 47
Controls and Procedures
Item 4. Controls and Procedures 50
— INFORMATION
PART II — INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 51
Risk Factors
Item 1A. Risk Factors 51
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 52
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 52
Other Information
Item 5. Other Information 52
Exhibits
Item 6. Exhibits 52 Exhibit Index 53
Signatures
Signatures 55 2 Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS BUNGE GLOBAL SA AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited) (U.S. dollars in millions, except per share data) Three Months Ended March 31, 2024 2023 Net sales $ 13,417 $ 15,328 Cost of goods sold ( 12,541 ) ( 14,147 ) Gross profit 876 1,181 Selling, general and administrative expenses ( 439 ) ( 353 ) Interest income 42 43 Interest expense ( 108 ) ( 112 ) Foreign exchange (losses) gains – net ( 78 ) 49 Other income (expense) – net 68 15 Income (loss) from affiliates 8 19 Income (loss) before income tax 369 842 Income tax (expense) benefit ( 117 ) ( 183 ) Net income (loss) 252 659 Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests ( 8 ) ( 27 ) Net income (loss) attributable to Bunge $ 244 $ 632 0 0 Earnings per share—basic (Note 18) Net income (loss) attributable to Bunge shareholders - basic $ 1.70 $ 4.21 Earnings per share—diluted (Note 18) Net income (loss) attributable to Bunge shareholders - diluted $ 1.68 $ 4.15 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents BUNGE GLOBAL SA AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (U.S. dollars in millions) Three Months Ended March 31, 2024 2023 Net income (loss) $ 252 $ 659 Other comprehensive income (loss): Foreign exchange translation adjustment ( 184 ) 125 Unrealized gains (losses) on designated hedges, net of tax (expense) benefit of $ 1 in 2024 and $( 1 ) in 2023 38 ( 26 ) Reclassification of net (gains) losses to net income, net of tax expense (benefit) of zero in 2024 and 2023 ( 3 ) 104 Total other comprehensive income (loss) ( 149 ) 203 Total comprehensive income (loss) 103 862 Comprehensive (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests 1 ( 30 ) Total comprehensive income (loss) at