Bunge Global SA Files 10-Q for Q3 2024

Ticker: BG · Form: 10-Q · Filed: 2024-10-30T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, SEC filing

TL;DR

Bunge Global SA's Q3 2024 10-Q is in. Check financials.

AI Summary

Bunge Global SA filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided for the third quarter and year-to-date periods. The company operates in the fats and oils industry.

Why It Matters

This filing provides investors and analysts with a detailed look at Bunge Global SA's financial health and operational performance during the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that can reveal significant risks and opportunities for the company.

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The conforming period of report is 20240930, meaning the filing covers the period up to September 30, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on 20241030.

What is Bunge Global SA's Standard Industrial Classification (SIC) code?

Bunge Global SA's SIC code is [2070] for FATS & OILS.

What is Bunge Global SA's fiscal year end?

Bunge Global SA's fiscal year ends on 1231.

What is the SEC file number for Bunge Global SA?

The SEC file number for Bunge Global SA is 000-56607.

Filing Stats: 4,919 words · 20 min read · ~16 pages · Grade level 16.5 · Accepted 2024-10-30 14:51:36

Key Financial Figures

Filing Documents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 202 3 4 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 202 3 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 202 3 6 Condensed Consolidated Statements of Changes in Equity and Redeemable Noncontrolling Interests for the Three and Nine Months Ended September 30, 2024 and 202 3 7 Notes to the Condensed Consolidated Financial Statements 9 Cautionary Statement Regarding Forward Looking Statements 40

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 41

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 56

Controls and Procedures

Item 4. Controls and Procedures 59

— INFORMATION

PART II — INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 60

Risk Factors

Item 1A. Risk Factors 60

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 61

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 61

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 61

Other Information

Item 5. Other Information 61

Exhibits

Item 6. Exhibits 61 Exhibit Index 62

Signatures

Signatures 63 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 12,908 $ 14,227 $ 39,566 $ 44,604 Cost of goods sold ( 12,136 ) ( 13,182 ) ( 37,254 ) ( 41,013 ) Gross profit 772 1,045 2,312 3,591 Selling, general and administrative expenses ( 437 ) ( 447 ) ( 1,325 ) ( 1,220 ) Interest income 33 38 112 121 Interest expense ( 127 ) ( 133 ) ( 358 ) ( 374 ) Foreign exchange (losses) gains – net 14 ( 47 ) ( 101 ) ( 64 ) Other income (expense) – net 87 8 212 35 Income (loss) from affiliates ( 20 ) 39 ( 58 ) 83 Income (loss) before income tax 322 503 794 2,172 Income tax (expense) benefit ( 89 ) ( 114 ) ( 236 ) ( 495 ) Net income (loss) 233 389 558 1,677 Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests ( 12 ) ( 16 ) ( 23 ) ( 50 ) Net income (loss) attributable to Bunge shareholders (Note 18) $ 221 $ 373 $ 535 $ 1,627 0 0 Earnings per share—basic (Note 18) Net income (loss) attributable to Bunge shareholders - basic $ 1.57 $ 2.50 $ 3.77 $ 10.85 Earnings per share—diluted (Note 18) Net income (loss) attributable to Bunge shareholders - diluted $ 1.56 $ 2.47 $ 3.73 $ 10.71 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income (loss) $ 233 $ 389 $ 558 $ 1,677 Other comprehensive income (loss): Foreign exchange translation adjustment 167 ( 166 ) ( 369 ) 102 Unrealized gains (losses) on designated hedges, net of tax (expense) benefit of $( 1 ) and $ 1 in 2024 and $ 1 and $( 2 ) in 2023

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