Bunge Ltd logo is seen displayed in this illustration taken, April 10, 2023.
UBS analyst Manav Gupta noted that investor sentiment improved significantly after the update. Gupta said: “Dilution is coming in much better than expected. This lifts the overhang on the stock and we expect a big relief rally in this name.” He added that based on the company’s revised projections, Viterra’s integration “might not cause any dilution in 2026, setting up for a potentially big beat and raise for 2026.”
Bunge completed its $34 billion merger with Glencore-backed Viterra in July, two years after the deal was first announced. The merger created one of the world’s largest agricultural trading and processing companies, positioning Bunge to compete more directly with global agribusiness leaders such as Archer-Daniels-Midland (ADM.N) and Cargill. The combined company aims to strengthen its global footprint in grain handling, oilseed processing, and agricultural supply chain management.
Bunge executives told investors during a conference call that the company would not issue a specific outlook for 2026 until the first half of next year due to ongoing uncertainties related to biofuel policies and global trade conditions. They also said that beginning in the third quarter, Bunge’s financial reporting will include new segments—soybean, softseed, and other oilseeds—along with a separate division dedicated to grain merchandising and milling.
According to Bunge, the merger is expected to significantly increase its capacity for handling and processing corn, wheat, and barley, while softseeds are projected to become a more “meaningful” part of its business mix. The restructuring is intended to improve transparency and better reflect the company’s diversified operations following the merger.
For 2025, Bunge now expects adjusted earnings per share in the range of $7.30 to $7.60, down from its earlier forecast of $7.75 per share. Market analysts surveyed by LSEG estimate the company’s full-year adjusted profit per share at $7.47. The revised forecast reflects lower grain prices, reduced crop-processing margins, and geopolitical factors that have pressured earnings across the global agricultural sector.
Despite near-term challenges, investors responded positively to the company’s update, viewing the integration with Viterra as a step toward stronger long-term growth. The newly combined organization is expected to benefit from expanded global networks, diversified assets, and enhanced efficiency across key agricultural supply chains.
Bunge is scheduled to release its third-quarter financial results on November 5, which will provide the first detailed look at the company’s post-merger performance and its progress toward achieving operational synergies in its newly integrated business model.
