ST. LOUIS — Building on momentum over the past several quarters, Bunge Ltd. delivered strong financial results in the first quarter of fiscal 2021, reaching a new high watermark for crush capacity utilization, and executing well in the marketplace through strong customer service, innovation and agility.
Bunge net income in the first quarter ended March 31 was $831 million, equal to $5.52 per share on the common stock, a sharp recovery from the first quarter of fiscal 2020, when the company sustained a loss of $184 million. Sales totaled $12.96 billion, up 41% from $9.17 billion in the first quarter of 2020.
On an adjusted basis, earnings per share were $3.13 in the first quarter of fiscal 2021, up from 91¢ in the same period a year ago.
The strong start to the year prompted Bunge to raise its full-year adjusted EPS forecast to approximately $7.50, up from the company’s earlier forecast of around $6.
Following the release of the…