10-QPeriod: Q3 FY2025

Bunge Global SA Quarterly Report for Q3 Ended Sep 30, 2025

Filed November 5, 2025For Securities:BG

Summary

Bunge Global SA (BG) reported its third-quarter and nine-month results for the period ending September 30, 2025. The company's net income attributable to Bunge shareholders for the third quarter decreased to $166 million from $221 million in the prior year, largely due to higher net interest expense from increased debt levels following the Viterra acquisition and lower Corporate and Other EBIT. However, for the nine-month period, net income increased to $721 million from $535 million, driven by higher segment EBIT. This quarter marks the first reporting period to significantly include the results of the recently acquired Viterra, significantly impacting various financial metrics and segment reporting. The company's balance sheet shows a substantial increase in total assets to $46.3 billion from $24.9 billion at year-end 2024, primarily reflecting the Viterra acquisition. Total debt also saw a significant rise, reaching $15.6 billion compared to $6.2 billion at year-end 2024. Despite increased debt, the company maintained compliance with its financial covenants. The company also completed several strategic divestitures and acquisitions, including the sale of its North American corn milling business and the EU Oilseeds divestment as a condition of the Viterra acquisition, alongside smaller acquisitions.

Financial Highlights

56 data points
Beta

Revenue

$22.16B

4.8% Gross Margin

Net Income

$166.00M

0.7% Net Margin

EPS (Diluted)

$0.84

Total Assets

$46.30B

Cash & Equivalents

$1.31B

Free Cash Flow

$385.00M

Financial Statements
Beta
Revenue$22.16B
Cost of Revenue$21.09B
Gross Profit$1.06B
SG&A Expenses$678.00M
Operating Income$724.00M
Interest Expense$202.00M
Net Income$166.00M
EPS (Basic)$0.84
EPS (Diluted)$0.84
Shares Outstanding (Basic)197.11M
Shares Outstanding (Diluted)198.48M

Key Highlights

  • 1Net income attributable to Bunge shareholders for Q3 2025 was $166 million, down from $221 million in Q3 2024, primarily due to increased interest expense and lower Corporate and Other EBIT post-Viterra acquisition.
  • 2Nine-month net income attributable to Bunge shareholders increased to $721 million from $535 million year-over-year, driven by higher segment EBIT.
  • 3Total assets significantly increased to $46.3 billion as of September 30, 2025, from $24.9 billion at December 31, 2024, largely due to the Viterra acquisition.
  • 4Total debt rose to $15.6 billion as of September 30, 2025, from $6.2 billion at December 31, 2024, reflecting financing for the Viterra acquisition.
  • 5The company completed the acquisition of Viterra Limited on July 2, 2025, which is now integrated into the financial reporting, significantly impacting revenue and asset base.
  • 6Bunge completed the EU Oilseeds Divestment on September 1, 2025, as required by regulatory approval for the Viterra acquisition, generating $483 million in proceeds.
  • 7The company divested its North America Corn Milling Business on June 30, 2025, for $470 million, resulting in a gain of $155 million.

Frequently Asked Questions

The Viterra acquisition, completed on July 2, 2025, significantly impacted Bunge's financial results. It led to a substantial increase in total assets to $46.3 billion and a rise in total debt to $15.6 billion. While the acquisition contributed to higher net sales and segment EBIT, it also resulted in increased interest expense, which negatively impacted net income attributable to Bunge shareholders in the third quarter of 2025.

For the first nine months of 2025, Bunge reported an increase in net income attributable to Bunge shareholders to $721 million, up from $535 million in the same period of 2024. This growth was primarily driven by higher segment EBIT, which offset lower EBIT in Corporate and Other activities and increased income tax expense.

Bunge's total debt increased significantly to $15.6 billion as of September 30, 2025, from $6.2 billion at December 31, 2024. This increase is mainly due to the debt financing used for the Viterra acquisition, including term loan borrowings and senior note issuances. Despite the higher debt levels, Bunge stated it remained in compliance with its financial covenants.

Bunge completed two significant divestitures: the North America Corn Milling Business on June 30, 2025, which generated $470 million in proceeds and a $155 million gain, and the EU Oilseeds Divestment on September 1, 2025, which yielded $483 million in cash proceeds. These actions were part of strategic realignments and regulatory requirements for the Viterra acquisition.