Bunge Global SA stock research
FY2025 Q1
Bunge Global SA (BG) Gross Margin — Quarter Ended Mar 31, 2025
Revenue decreased sharply from the prior quarter and was slightly lower than the same quarter last year, while gross profit declined compared to both periods. Cost of revenue fell significantly from the prior quarter but remained similar to the year-ago level, resulting in a gross margin that improved relative to both the preceding quarter and the same quarter one year earlier.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue decreased sharply from the prior quarter and was slightly lower than the same quarter last year, while gross profit declined compared to both periods. Cost of revenue fell significantly from the prior quarter but remained similar to the year-ago level, resulting in a gross margin that improved relative to both the preceding quarter and the same quarter one year earlier.
- The gross margin improved compared to both the prior quarter and the year-ago quarter, driven by a proportionally larger decline in cost of revenue relative to the decline in revenue. The relationship between revenue and cost of revenue shifted favorably, with cost of revenue decreasing more than revenue on a relative basis.
- Compared to the immediately preceding quarter, revenue was lower and gross profit was lower, but gross margin was higher. Compared to the same quarter one year earlier, revenue was slightly lower and gross profit was lower, yet gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
16.3%
Gross profit
$597.0M
Revenue
$3.7B
Cost of revenue
$11.0B
Quarter-over-quarter change
-3.6 pts
Year-over-year change
+9.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2024 | $13.4B | $876.0M | $12.5B | 6.5% |
| Jun 30, 2024 | -$5.7B | $664.0M | $12.6B | -11.6% |
| Sep 30, 2024 | $3.9B | $772.0M | $12.1B | 19.9% |
| Mar 31, 2025 | $3.7B | $597.0M | $11.0B | 16.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
-3.6 pts
Year-over-year change
Mar 31, 2024
+9.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved compared to both the prior quarter and the year-ago quarter, driven by a proportionally larger decline in cost of revenue relative to the decline in revenue. The relationship between revenue and cost of revenue shifted favorably, with cost of revenue decreasing more than revenue on a relative basis.
Compared to the immediately preceding quarter, revenue was lower and gross profit was lower, but gross margin was higher. Compared to the same quarter one year earlier, revenue was slightly lower and gross profit was lower, yet gross margin was higher.
Monitor the trajectory of cost of revenue relative to revenue, as the current quarter's margin improvement was accompanied by a notable reduction in cost of revenue.