Bunge Global (BG) Q4 2025 earnings summary

Executive summary

• Completed the transformational combination with Viterra, expanding global footprint, origination, merchandising, processing, and distribution capabilities, and delivering early cost and commercial synergies.

• Achieved strong operational execution in 2025, with all segments showing higher results in Q4 and realization of integration synergies ahead of schedule.

• Transformation efforts have resulted in a more agile, diversified, and resilient organization, positioning for continued value creation.

• The environment remains complex due to geopolitical tensions, evolving trade flows, and biofuel policy uncertainty, especially in the U.S.

Financial highlights

• Full-year 2025 adjusted EPS was $7.57, down from $9.19 in 2024; Q4 adjusted EPS was $1.99, compared to $2.13 in the prior year.

• Adjusted total EBIT for 2025 was $2,034 million, nearly flat year-over-year; Q4 adjusted total EBIT was $756 million, up from $546 million.

• Net income attributable to shareholders for 2025 was $816 million, down from $1,137 million in 2024.

• Net sales for 2025 were $70.3 billion, up from $53.1 billion year-over-year.

• Adjusted funds from operations for 2025 were $1,733 million.

Outlook and guidance

• 2026 adjusted EPS is expected in the range of $7.50 to $8.00.

• Projected adjusted annual effective tax rate for 2026 is 23%–27%; net interest expense $575–$625 million; capital expenditures $1.5–$1.7 billion; depreciation/amortization ~$975 million.

• Earnings expected to be weighted 30/70 between first and second half of 2026, with Q1 particularly light.

• Guidance does not include potential upside from finalization of U.S. biofuel policy (RVO) or SAF market developments.