Bunge’s adjusted earnings for the quarter ended September 30 reached $2.27 per share, surpassing analysts’ average estimate of $2.09 per share, according to LSEG data. Although this marked the company’s lowest third-quarter result since 2019, the outcome was better than expected. Bunge reaffirmed its 2025 full-year earnings guidance of between $7.30 and $7.60 per share, while noting that ongoing policy uncertainty could weigh on short-term performance but that market conditions were “developing favorably.”
The company benefited from strong South American soybean exports following abundant harvests in Argentina and Brazil. Demand for South American soybeans rose sharply as China, the world’s largest soy importer, reduced purchases from the United States. This shift helped shield Bunge, one of the leading exporters in South America, from the impact of lower U.S. export volumes.
Bunge’s merger with Viterra significantly expanded its crop marketing and origination network while strengthening its soybean processing capacity in Argentina. As a result, profit in its soy processing and refining segment increased 67% compared with the same quarter last year, and profits from softseed processing and refining more than doubled as production volumes surged.
The company’s grain merchandising and milling division also performed strongly, with profits rising 56% year-on-year. Higher wheat milling and ocean freight earnings more than offset weaker results from grain merchandising, demonstrating resilience across the company’s diversified operations.
In contrast, U.S.-focused competitor Archer-Daniels-Midland lowered its 2025 forecast earlier this week, citing uncertainty related to U.S. trade policy. Broader agribusiness margins have come under pressure due to abundant global crop supplies and shifting trade dynamics.
Bunge CEO Greg Heckman noted that government decisions on trade and biofuels continue to influence market sentiment. “Policy decisions, including biofuels and trade, remain in flux as we look ahead to 2026,” Heckman said. He added that many farmers selling crops to Bunge and customers buying its processed products have been cautious about committing to long-term contracts, which has affected profit margins in the near term.
The company expects these challenges to persist through the fourth quarter as uncertainty around trade and biofuels regulation continues. However, the expanded scale from its Viterra acquisition and strong export demand in South America have positioned Bunge to sustain profitability despite market headwinds.
Overall, Bunge’s third-quarter results reflect a stable performance amid global agricultural volatility, with improved efficiencies and strategic mergers supporting its long-term growth outlook.
