BG US S&P 500Russell 1000 Earnings call
Bunge Global (BG) · Q2 2026 results and valuation
Share price: $100.28 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 29 Apr 2026
Net income up 897.1% on the previous quarter. Management sounded restrained, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+897.1%
Net income vs Q1 2026
Outlook given
Net income 678.0M vs 68.0M
Revenue +10.0%
Against the same quarter last year (Q2 2025) it is +91.5% — part of the move on last quarter is seasonal.
2 · How management spoke
Restrained
Less upbeat than 73% of company calls
Answers to analysts: cautious, in line with the script.
Similar to last call.
3 · What stood out
Figure
Discretionary cash flow fell to $435 million from $530 million in the first quarter, trimming cash available for dividends and growth investments.
Valuation
Is Bunge Global undervalued?
Reverse DCF. Average free cash flow of the last three fiscal years (the last year was negative) (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.
Current price
$100.28
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+22.9% for 10 yrs
Fair value / share
$-50.48
Buy below
$-37.86
Price vs fair value
n/a
Price vs buy-below price
n/a
Read between the lines
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Key theme
Higher results in Argentina processing and refining, along with Brazil processing, contributed to South America's performance despite lower refining results in that region.
Source quote
“In South America, higher results reflected improvements in Argentina processing and refining, and Brazil processing. was partially offset by lower refining results. Within the destination value chain, stronger processing results in Asia, more than offset lower processing results in Europe and a lower distribution performance.”
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Guidance
The company raised its full year 2026 adjusted EPS guidance to a range of $9.25 to $9.75 from its previous estimate.
Source quote
“Based on what we can see today, we now expect full year 2026 adjusted EPS in the range of $9.25 to $9.75, which is up from our previous...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“In North America and Argentina, stronger processing results were the primary drivers of the improved performance, while refining results were modestly higher in both regions.”
“In Softseed Processing and Refining segment, results increased across all regions, reflecting a more favorable market environment and strong execution.”
“Population growth and rising incomes are driving sustained demand for grain and oilseed products.”
Full figures
USD · ROIC.AI fundamentals (NYSE:BG, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 24.04B | 21.86B | +10.0% | 12.77B | +88.3% |
| Gross profit | 1.68B | 766.0M | +119.5% | 738.0M | +127.8% |
| Operating income | 1.07B | 61.0M | +1662.3% | 494.0M | +117.6% |
| Net income | 678.0M | 68.0M | +897.1% | 354.0M | +91.5% |
| EPS | 3.53 | 0.35 | +908.4% | 2.61 | +35.2% |
| P/E today 28.4 | — | 33.7 | — | 8.1 | — |
Topics
Most discussed now
- The average curves for '26 will end up well above the baseline, and that's driven by Canada, which is supported...
- New Bunge Global is also advancing strategic partnerships to expand its relationships in renewable fuels.
- Bunge Global's integrated global platform, disciplined risk management and operational excellence are designed to keep supply moving to…
- Bunge Global has a long track record of managing market volatility and continuing to deliver for its stakeholders, all while growing...
- Higher merchandise volumes reflected the combined company's expanded soybean origination footprint.
Faded since Q1 2026
- Dropped In response, Bunge Global is taking prudent operational steps to support the continuity of supply for its customers, including working…
- Fading In the Grain Merchandising and Milling segment, higher results in wheat milling, global cotton and commercial services were more than...
- Fading These actions focus on maintaining flexibility in shipping arrangements and leveraging Bunge Global's global capabilities and regional…
- Fading Higher process volumes were largely attributed to the combined company's expanded production capacity in Argentina.
Latest announcements
Official filings, newest first.
- Director or officer change · SEC 8-K
- Other events · SEC 8-K
- Director or officer change · SEC 8-K
- Other events · SEC 8-K
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K