Photo: Bunge Ltd. ST. LOUIS — As it heads into fiscal 2023, executives at Bunge Ltd. expect the company to face challenges across its three main business units, including its core agribusiness segment, which is expected to be dragged down by the unit’s merchandising business. The sluggish outlook was presented against a backdrop of full-year financial results that included a 14% spike in sales. Bunge net income in the year ended Dec. 31, 2022, was $1.61 billion, equal to $10.51 per share on the common stock, down 23% from $2.08 billion, or $13.64 per share, in fiscal 2021. Adjusted total segment EBIT, though, increased to $2.86 billion from $2.53 billion. On an adjusted basis, earnings per share were $13.91 in 2022, up from $12.93 in 2021. Sales in 2022 were $67.23 billion, up 14% from $59.15 billion. Shares of Bunge climbed to $103.39 in mid-day trading on the New York Stock Exchange on Feb. 8, the day results were announced, before falling back to close at $98.69, down narrowly from the previous day’s close of $98.96. In a Feb. 8 conference call with securities analysts, Gregory A. Heckman, chief executive officer of Bunge, said the past year demonstrated the […]
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