08:34 AM EDT, 07/31/2024 (MT Newswires) -- Bunge (BG) reported Q2 adjusted earnings Wednesday of $1.73 per diluted share, down from $3.72 a year earlier.

Analysts surveyed by Capital IQ expected $1.83.

Net sales for the quarter ended June 30 were $13.24 billion, down from $15.05 billion a year earlier.

Analysts polled by Capital IQ expected $14.13 billion.

Bunge said it now expects 2024 adjusted EPS of about $9.25. That compares with its prior guidance of about $9. Analysts surveyed by Capital IQ expect $9.45.

Shares of the agribusiness and food company were down nearly 7% in recent premarket activity on Wednesday.

Price: 106.22, Change: -8.34, Percent Change: -7.28