Bunge beats first-quarter profit estimates driven by high processing margins
(Reuters) -Bunge beat Wall Street expectations for first-quarter profit on Wednesday as the grain trader and processor benefited from higher processing margins and tariff uncertainty-fueled demand for its products.
Combined soybean, corn and wheat export volumes were up 11% year-on-year in the United States and Brazil during the first quarter. Corn was up 38% in the U.S. and soybeans rose 18% in Brazil.
"We benefited in the first quarter from tariff-related timing shifts in demand and farmer activity and remain confident in our ability to continue to execute despite the current market environment," CEO Greg Heckman said.
The Missouri-based company posted an adjusted profit of $1.81 per share for the three months ended March 31, compared with analysts’ average estimate of $1.30 per share, according to LSEG data.
