Key facts
- Bunge's adjusted profit was $2.56 per share for the three months ended September 30.
- Quarterly net sales from soybean processing and refining were $11.4 billion.
- Net sales at its grain merchandising and milling segment rose 5.2% to $6.76 billion.
Bunge beat Wall Street estimates for third-quarter adjusted profit on Thursday, benefiting from robust processing margins for soybeans and other oilseeds. The company posted an adjusted profit of $2.56 per share for the three months ended September 30, compared with analysts' average estimate of $2.44 per share. Quarterly net sales from soybean processing and refining were up 5.4% year-on-year at $11.4 billion. US corn and soybean prices have surged since the start of the Iran conflict, prompting farmers to accelerate sales of grain. Bunge's softseed processing and refining segment reported quarterly net sales of $4.3 billion, compared with $3.6 billion a year ago. Quarterly net sales at its grain merchandising and milling segment rose 5.2% to $6.76 billion. Peer ADM is set to report results on November 3.