CHESTERFIELD — Bunge reported on Tuesday a robust turnaround in quarterly earnings, after posting losses in the same period a year ago.
The Chesterfield-based grain trading giant posted $831 million in profits in the first quarter, after losses of $184 million in the same quarter last year.
“We’re off to a great start to 2021,” CEO Greg Heckman said on a call with investors. “We continue to capture the opportunities in front of us.”
Company leaders repeatedly touted the recent performance and growth potential for products like renewable biodiesel and plant-based proteins, which they believe are well suited for a lower carbon future.
“The demand for sustainable products is providing us more opportunities than ever to continue to grow our business,” said Heckman. “Change is good. That’s new demand, and you’ve just got to be smart enough to step into the right place and make the right investments.”
The agribusiness company said trends are favorable for the remainder of the year, particularly as food service demand rebounds from the coronavirus pandemic. Bunge still faces some impacts from the virus, particularly in hard-hit places such as Brazil, where the company’s business has been negatively affected.