Analysts on Wall Street project that Bunge Global (BG) will announce quarterly earnings of $1.27 per share in its forthcoming report, representing a decline of 58.2% year over year. Revenues are projected to reach $12.81 billion, declining 4.5% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Bunge Global metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Net sales to external customers- Agribusiness' will reach $8.76 billion. The estimate indicates a change of -10.1% from the prior-year quarter.
The combined assessment of analysts suggests that 'Net sales to external customers- Milling products' will likely reach $396.09 million. The estimate points to a change of +4% from the year-ago quarter.
Analysts forecast 'Net sales to external customers- Refined & Specialty Oils' to reach $3.65 billion. The estimate suggests a change of +12.6% year over year.
According to the collective judgment of analysts, 'Volumes - Agribusiness' should come in at 19,369.03 Kmt. Compared to the current estimate, the company reported 20,192 Kmt in the same quarter of the previous year.
It is projected by analysts that the 'Volumes - Milling products' will reach 908.96 Kmt. Compared to the present estimate, the company reported 874 Kmt in the same quarter last year.
Analysts expect 'Volumes - Refined & Specialty Oils' to come in at 2,195.00 Kmt. Compared to the present estimate, the company reported 2,195 Kmt in the same quarter last year.
The collective assessment of analysts points to an estimated 'Adjusted Segment EBIT- Agribusiness' of $206.45 million. Compared to the current estimate, the company reported $487 million in the same quarter of the previous year.
Analysts predict that the 'Adjusted Segment EBIT- Milling products' will reach $22.98 million. The estimate is in contrast to the year-ago figure of $28 million.
The consensus estimate for 'Adjusted Segment EBIT- Refined & Specialty Oils' stands at $118.33 million. Compared to the current estimate, the company reported $204 million in the same quarter of the previous year.
View all Key Company Metrics for Bunge Global here>>>
Over the past month, shares of Bunge Global have returned +8.2% versus the Zacks S&P 500 composite's +0.4% change. Currently, BG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Bunge Global SA (BG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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