Track market-moving stories before they get noisy

Tyson Foods has tapped board member Jeff Schomburger to succeed Donnie King as president and chief executive of the meat processor.

Tyson Foods (TSN - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this meat producer have returned -3.2% over the past month versus the Zacks S&P 500 composite's +6% change. The Zacks Food - Meat Products industry, to which Tyson belongs, has lost 1.3% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Tyson is expected to post earnings of $1.05 per share for the current quarter, representing a year-over-year change of +15.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.7%.

The consensus earnings estimate of $4.14 for the current fiscal year indicates a year-over-year change of +0.5%. This estimate has changed +3.7% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $4.65 indicates a change of +12.3% from what Tyson is expected to report a year ago. Over the past month, the estimate has changed +1.5%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Tyson is rated Zacks Rank #2 (Buy).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Tyson, the consensus sales estimate of $14.4 billion for the current quarter points to a year-over-year change of +3.7%. The $56.88 billion and $57.64 billion estimates for the current and next fiscal years indicate changes of +4.5% and +1.3%, respectively.

Last Reported Results and Surprise HistoryTyson reported revenues of $13.65 billion in the last reported quarter, representing a year-over-year change of +4.4%. EPS of $0.87 for the same period compares with $0.92 a year ago.

Compared to the Zacks Consensus Estimate of $13.8 billion, the reported revenues represent a surprise of -1.06%. The EPS surprise was +14.47%.

Over the last four quarters, Tyson surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Tyson is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Tyson. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.

Tyson Foods (TSN - Free Report) has been beaten down lately with too much selling pressure. While the stock has lost 12.9% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.

We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.

RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.

Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.

So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.

However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.

Why a Trend Reversal is Due for TSNThe RSI reading of 28.66 for TSN is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.

This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering TSN in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 3.7% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.

Moreover, TSN currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

The parasitic fly has been detected in the U.S. for the first time in 60 years, putting pressure on an already shrinking cattle population.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Tyson Foods (TSN - Free Report) Headquartered in Arkansas, Tyson Foods Inc. was founded in 1935. It is the biggest U.S. chicken company and produces, distributes and markets chicken, beef, pork as well as prepared foods. The company's products are marketed and sold primarily by sales staff to grocery retailers, grocery wholesalers, meat distributors, military commissaries, industrial food processing companies, chain restaurants, international export companies and domestic distributors.

TSN is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 13.53; value investors should take notice.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.25 to $4.20 per share. TSN boasts an average earnings surprise of +18.1%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, TSN should be on investors' short list.

SPRINGDALE, Ark., June 08, 2026 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE: TSN) announced today the appointment of Wes Morris as Chief Operating Officer (COO). As COO, Morris will oversee the company’s business segments, including Chicken, Beef, Pork, Prepared Foods and International.

Morris brings more than 20 years of experience with Tyson Foods, including prior leadership roles as president of the Prepared Foods and Poultry businesses. His appointment reinforces the company’s commitment to operational excellence.

“Wes Morris has a proven track record of executing against operational priorities across key segments of our business,” said Jeff Schomburger, incoming President and Chief Executive Officer of Tyson Foods. “His deep understanding of our operations will be critical as we continue to strengthen performance across the enterprise. We remain focused on executing our strategy with discipline and have the right resources and people to win.”

"I'm excited to return at this pivotal moment," said Morris. "We have a strong foundation in place, and I'm committed to operational discipline as the company continues to advance its strategic priorities and execute its growth plan.”

Morris begins his role on June 15. Devin Cole will be retiring from Tyson Foods. The company thanks him for his many contributions.

About Tyson Foods, Inc.
Tyson Foods, Inc. (NYSE: TSN) is a world-class food company and recognized leader in protein. Founded in 1935 by John W. Tyson, it has grown under four generations of family leadership. The Company is unified by this purpose: Tyson Foods. We Feed the World Like Family™ and has a broad portfolio of iconic products and brands including Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, State Fair®, Aidells® and ibp®. Tyson Foods is dedicated to bringing high-quality food to every table in the world, safely and affordably, now and for future generations. Headquartered in Springdale, Arkansas, the Company is a member of the S&P 500 and Russell 1000 large capitalization indices. It had approximately 133,000 team members on September 27, 2025. Visit www.tysonfoods.com.

Media Contact: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3563b1ef-1224-4279-abbf-315320f8a9e6

Zacks.com users have recently been watching Tyson (TSN) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is BUNGE GLOBAL SA (BG - Free Report) . BG is currently holding a Zacks Rank #2 (Buy) and a Value grade of A.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. BG has a P/S ratio of 0.34. This compares to its industry's average P/S of 0.47.

Finally, investors should note that BG has a P/CF ratio of 5.80. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 7.34. BG's P/CF has been as high as 8.62 and as low as 5.35, with a median of 6.69, all within the past year.

These figures are just a handful of the metrics value investors tend to look at, but they help show that BUNGE GLOBAL SA is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, BG feels like a great value stock at the moment.

ST. LOUIS--(BUSINESS WIRE)--Bunge Global SA (NYSE: BG) today reported first quarter 2026 results.

"The Bunge team delivered a strong first quarter, executing with the discipline and speed that define this organization, while navigating one of the more rapidly changing market environments in recent years."

Share Q1 GAAP diluted EPS of $0.35 vs. $1.48 in the prior year; $1.83 vs. $1.81 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences Higher results primarily driven by Soybean and Softseed Processing and Refining, reflecting strong execution in a dynamic environment and improved market conditions Increasing full-year adjusted EPS outlook range to $9.00 to $9.50 from $7.50 to $8.00
Overview Greg Heckman, Bunge’s Chief Executive Officer said, "The Bunge team delivered a strong first quarter, executing with the discipline and speed that define this organization, while navigating one of the more rapidly changing market environments in recent years. Amid geopolitical uncertainty and shifting trade flows, our global platform performed as designed, enabling us to capture opportunities, manage risks, and connect farmers to consumers with the products, services, and solutions they need as they face increasing complexity.

Looking ahead, visibility remains limited given ongoing macroeconomic conditions. However, our balanced footprint and diversified value chains position us to adapt. The long-term fundamentals underpinning demand for our products and services remain strong, and we are well equipped to continue serving customers at both ends of the value chain while delivering for all our stakeholders."

Financial Highlights Three Months Ended

March 31,

(US$ in millions, except per share data)

2026

2025

Net income attributable to Bunge

$

68

$

201

Net income per share-diluted

$

0.35

$

1.48

Mark-to-market timing differences (a)

$

1.28

$

0.08

Certain (gains) & charges (b)

$

0.20

$

0.25

Adjusted Net income per share-diluted (c)

$

1.83

$

1.81

Segment EBIT (c)(d)

$

319

$

404

Mark-to-market timing differences (a)

336

2

Certain (gains) & charges (b)

6

—

Adjusted Segment EBIT (c)

$

661

$

406

Corporate and Other EBIT (c)(e)

$

(135

)

$

(76

)

Certain (gains) & charges (b)

35

32

Adjusted Corporate and Other EBIT (c)

$

(100

)

$

(44

)

Total EBIT (c)

$

184

$

328

Mark-to-market timing differences (a)

336

2

Certain (gains) & charges (b)

41

32

Adjusted Total EBIT (c)

$

561

$

362

First Quarter Results Reportable Segments

Soybean Processing and Refining

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Volumes (in thousand metric tons)

Soybeans processed

10,757

8,110

Soybeans merchandised

5,133

2,233

Refined soy oil production

857

859

Net Sales

$

9,552

$

6,661

Cost of goods sold

$

(9,154

)

$

(6,326

)

Selling, general and administrative expense

$

(143

)

$

(109

)

Foreign exchange gains (losses) – net

$

(47

)

$

20

EBIT attributable to noncontrolling interests

$

4

$

3

Other income (expense) - net

$

(8

)

$

11

Income (loss) from affiliates

$

5

$

11

Segment EBIT

$

209

$

271

Mark-to-market timing differences

168

(30

)

Adjusted Segment EBIT

$

377

$

241

Higher results were primarily driven by South America, reflecting stronger processing performance in Argentina and Brazil. North America also delivered higher results across both processing and refining. In the destination value chain, higher origination in Brazil was more than offset by lower processing results in Europe and Asia. Results from global oils merchandising activities also increased, reflecting strong execution.

Higher processed volumes were largely attributed to the combined company’s expanded production capacity in Argentina. Processed volumes were also higher in North America and Brazil. Higher merchandised volumes reflected the combined company’s expanded soybean origination footprint.

Softseed Processing and Refining

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Volumes (in thousand metric tons)

Softseeds processed

3,281

2,194

Softseeds merchandised

1,406

95

Refined oil production

773

728

Net Sales

$

3,904

$

1,515

Cost of goods sold

$

(3,768

)

$

(1,406

)

Selling, general and administrative expense

$

(61

)

$

(35

)

Foreign exchange gains (losses) – net

$

6

$

16

EBIT attributable to noncontrolling interests

$

(3

)

$

—

Other income (expense) - net

$

(2

)

$

(3

)

Income (loss) from affiliates

$

—

$

(5

)

Segment EBIT

$

76

$

82

Mark-to-market timing differences

119

—

Adjusted Segment EBIT

$

195

$

82

Results were higher across all regions. In Argentina, results increased in both processing and refining. In North America, higher processing results more than offset lower refining results. In Europe, higher processing and biodiesel results more than offset lower refining results. Origination results in Canada and Australia increased reflecting our expanded footprint and large crops. Results from global oils merchandising activities also increased, reflecting strong execution.

Higher softseed processed volumes primarily reflected the combined company’s increased production capacity in Argentina, Canada, and Europe. Higher merchandised volumes were driven by the company's expanded softseeds origination footprint.

Tropical Oils and Specialty Ingredients

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Volumes (in thousand metric tons)

639

618

Net Sales

$

1,228

$

1,083

Cost of goods sold

$

(1,040

)

$

(1,015

)

Selling, general and administrative expense

$

(61

)

$

(58

)

Foreign exchange (losses) gains – net

$

(4

)

$

—

EBIT attributable to noncontrolling interests

$

(11

)

$

(2

)

Other income (expense) - net

$

(2

)

$

(3

)

Segment EBIT

$

110

$

5

Mark-to-market timing differences

$

(65

)

18

Adjusted Segment EBIT

$

45

$

23

Higher results in Asia, Europe and global oils merchandising activities were partially offset by lower results in North America.

Grain Merchandising and Milling

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Volumes (in thousand metric tons)

26,558

8,510

Net Sales

$

7,177

$

2,384

Cost of goods sold

$

(7,132

)

$

(2,309

)

Selling, general and administrative expense

$

(127

)

$

(59

)

Foreign exchange (losses) gains – net

$

(38

)

$

(12

)

EBIT attributable to noncontrolling interests

$

(4

)

$

(2

)

Other income (expense) - net

$

48

$

45

Segment EBIT

$

(76

)

$

46

Mark-to-market timing differences

114

14

Certain (gains) & charges

6

—

Adjusted Segment EBIT

$

44

$

60

Higher results in wheat milling, global cotton and commercial services were more than offset by lower results in ocean freight. Results in global grains merchandising were in line with last year. Higher volumes primarily reflected the company’s expanded grain‑handling footprint and capabilities, along with large global grain crops. Prior year results included corn milling, which was divested in 2025.

Corporate and Other

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Net Sales

$

—

$

—

Cost of goods sold

$

(1

)

$

10

Selling, general and administrative expense

$

(139

)

$

(119

)

Foreign exchange gains (losses) – net

$

(11

)

$

1

EBIT attributable to noncontrolling interests

$

1

—

Other income (expense) - net

$

17

$

32

Income (loss) from affiliates

$

(2

)

$

—

Corporate and Other EBIT

$

(135

)

$

(76

)

Certain (gains) & charges

35

32

Adjusted Corporate and Other EBIT

$

(100

)

$

(44

)

Corporate

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Corporate EBIT

$

(148

)

$

(88

)

Certain (gains) & charges

35

32

Adjusted Corporate EBIT

$

(113

)

$

(56

)

Other

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Other EBIT

$

13

$

12

Certain (gains) & charges

—

—

Adjusted Other EBIT

$

13

$

12

The increase in Corporate expenses was primarily driven by the addition of Viterra. The year-over-year comparison was also impacted by timing of performance-based compensation and a $15 million cash benefit received in 2025 related to a prior joint venture. Other results were in line with the prior year.

Cash Flow

Three Months Ended

Mar 31, 2026

Mar 31, 2025

Cash provided by (used for) operating activities

$

(541

)

$

(285

)

Certain reconciling items to Adjusted funds from operations (3)

1,071

677

Adjusted funds from operations (3)

$

530

$

392

Cash used for operations in the three months ended March 31, 2026 and March 31, 2025 was $541 million and $285 million, respectively. The increase of cash used for operations was primarily driven by lower net income and net changes in working capital. Adjusted funds from operations (FFO) was $530 million compared to $392 million in the prior year.(3)

Income Taxes

For the three months ended March 31, 2026, income tax benefit was $14 million compared to an income tax expense of $80 million in the prior year. The income tax benefit was primarily due to tax benefits in South America and lower pre-tax income in 2026. Adjusting for notable items and mark-to-market timing differences, the quarter-end adjusted effective income tax rate was approximately 18%.

Outlook(4) Taking into account first quarter results, the current margin and macro environment and forward curves, Bunge now expects full-year 2026 adjusted EPS in the range of $9.00 to $9.50, which is up from its previous range of $7.50 to $8.00.

Compared to its previous full-year outlook:

Soybean Processing and Refining results are expected to be higher Softseed Processing and Refining results are expected to be higher Tropical Oils and Specialty Ingredients results are expected to be lower Grain Merchandising and Milling results are expected to be lower Corporate and Other results are expected to be in line Additionally, the Company expects the following for 2026:

An adjusted annual effective tax rate in the range of 22% to 26%, which is down slightly from its previous expectation of 23% to 27% Net interest expense in the range of $620 to $660 million, which is up from its previous range of $575 to $625 million Capital expenditures in the range of $1.5 to $1.7 billion Depreciation and amortization of approximately $975 million
Conference Call and Webcast Details Bunge Global SA’s management will host a conference call at 8 a.m. Eastern (7 a.m. Central) on Wednesday, April 29, 2026 to discuss the Company’s results.

Additionally, a slide presentation to accompany the discussion of results will be posted on www.bunge.com.

To access the webcast, go to “Events & Presentations” under “News & Events” in the “Investor Center” section of the company’s website. Select “Q1 2026 Bunge Global SA Conference Call” and follow the prompts. Please go to the website at least 15 minutes prior to the call to register and download any necessary audio software.

To listen to the call, please dial 1-844-735-3666. If you are located outside the United States or Canada, dial 1-412-317-5706. Please dial in approximately 10 minutes before the scheduled start time.

A call replay will be available later in the day on April 29, 2026, continuing through May 29, 2026. To access it, please dial 1-855-669-9658 in the United States and Canada, or 1-412-317-0088 in other locations. When prompted, enter confirmation code 8137371.

About Bunge At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. As a premier agribusiness solutions provider, our dedicated employees partner with farmers across the globe to move agricultural commodities from where they’re grown to where they’re needed—in faster, smarter, and more efficient ways. We are a world leader in grain origination, storage, distribution, oilseed processing and refining, offering a broad portfolio of plant-based oils, fats, and proteins. We work alongside our customers at both ends of the value chain to deliver quality products and develop tailored, innovative solutions that address evolving consumer needs. With 200+ years of experience and presence in over 50 countries, we are committed to strengthening global food security, advancing sustainability, and helping communities prosper where we operate. Bunge has its registered office in Geneva, Switzerland, and its corporate headquarters in St. Louis, Missouri. Learn more at Bunge.com.

Website Information We routinely post important information for investors on our website, www.bunge.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, U.S. Securities and Exchange Commission ("SEC") filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Cautionary Statement Concerning Forward Looking Statements The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward looking statements to encourage companies to provide prospective information to investors. This press release includes forward looking statements that reflect our current expectations and projections about our future results, performance, prospects and opportunities. Forward looking statements include all statements that are not historical in nature. We have tried to identify these forward looking statements by using words including "may," "will," "should," "could," "expect," "anticipate," "believe," "plan," "intend," "estimate," "continue" and similar expressions. These forward looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward looking statements. The following factors, among others, could cause actual results to differ from these forward looking statements:

the impact on our employees, operations, and facilities from the war in Ukraine and the resulting economic and other sanctions imposed on Russia, including the impact on us resulting from the continuation and/or escalation of the war and sanctions against Russia; the effect of weather conditions and the impact of crop and animal disease on our business; the impact of global and regional economic, agricultural, financial and commodities market, political, social and health conditions; changes in government policies and laws affecting our business, including agricultural, trade, tariff and foreign investment policies, financial markets regulation and environmental, tax and biofuels regulation; the impact of seasonality; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, divestitures, joint ventures and strategic alliances, including without limitation Bunge’s business combination with Viterra Limited ("Viterra"); the impact of industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products that we sell and use in our business, fluctuations in energy and freight costs and competitive developments in our industries; the effectiveness of our capital allocation plans, funding needs and financing sources; the effectiveness of our risk management strategies; operational risks, including industrial accidents, natural disasters, pandemics or epidemics, wars and cybersecurity incidents; changes in foreign exchange policy or rates; the impact of our dependence on third parties; our ability to attract and retain executive management and key personnel; and other factors affecting our business generally. The forward looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward looking statements to reflect subsequent events or circumstances.

You should refer to "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 19, 2026, as well as other risks and uncertainties set forth from time to time in reports subsequently filed with the SEC.

Additional Financial Information Certain gains and (charges), quarter-to-date

The following table provides a summary of certain gains and (charges) that may be of interest to investors, including a description of these items and their effect on Net income (loss) attributable to Bunge, Earnings per share diluted and EBIT for the three month periods ended March 31, 2026 and 2025.

(US$ in millions, except per share data)

Net Income (Loss)

Attributable to

Bunge

Earnings

Per Share

Diluted

EBIT

Three months ended March 31,

2026

2025

2026

2025

2026

2025

Reportable Segments:

$

(6

)

$

—

$

(0.03

)

$

—

$

(6

)

$

—

Soybean Processing and Refining

$

—

$

—

$

—

$

—

$

—

$

—

Softseed Processing and Refining

$

—

$

—

$

—

$

—

$

—

$

—

Tropical Oils and Specialty Ingredients

$

—

$

—

$

—

$

—

$

—

$

—

Grain Merchandising and Milling

$

(6

)

$

—

$

(0.03

)

$

—

$

(6

)

$

—

Acquisition and integration costs

(6

)

—

(0.03

)

—

(6

)

—

Corporate and Other:

$

(35

)

$

(33

)

$

(0.17

)

$

(0.25

)

$

(35

)

$

(32

)

Acquisition and integration costs

(35

)

(33

)

(0.17

)

(0.25

)

(35

)

(32

)

Total

$

(41

)

$

(33

)

$

(0.20

)

$

(0.25

)

$

(41

)

$

(32

)

See Definition and Reconciliation of Non-GAAP Measures.

Reportable Segments

Grain Merchandising and Milling

EBIT for the three months ended March 31, 2026 included $6 million in Selling, general and administrative expenses related to the completed business combination with Viterra.

Corporate and Other

The following is a summary of acquisition and integration costs related to the completed business combination agreement with Viterra recorded in the Company's Condensed Consolidated Statements of Income (Loss).

Three Months Ended

(US$ in millions)

Mar 31, 2026

Mar 31, 2025

Cost of goods sold

$

(1

)

$

—

Selling, general and administrative expenses

(34

)

(32

)

Interest expense

(9

)

(4

)

Income tax (expense) benefit

9

3

Net income (loss)

$

(35

)

$

(33

)

Condensed Consolidated Earnings Data (Unaudited) Three Months Ended

March 31,

(US$ in millions, except per share data)

2026

2025

Net sales

$

21,861

$

11,643

Cost of goods sold

(21,095

)

(11,046

)

Gross profit

766

597

Selling, general and administrative expenses

(531

)

(380

)

Foreign exchange gains (losses) – net

(94

)

25

Other income (expense) – net

53

82

Income (loss) from affiliates

3

5

EBIT attributable to noncontrolling interest (a) (1)

(13

)

(1

)

Total EBIT

184

328

Interest income

45

59

Interest expense

(181

)

(104

)

Income tax (expense) benefit

14

(80

)

Noncontrolling interest share of interest and tax (a) (1)

6

(2

)

Net income (loss) attributable to Bunge (1)

$

68

$

201

Net income (loss) attributable to Bunge shareholders - diluted

$

0.35

$

1.48

Weighted–average shares outstanding - diluted

196

135

Condensed Consolidated Balance Sheets (Unaudited) March 31,

December 31,

(US$ in millions)

2026

2025

Assets

Cash and cash equivalents

$

839

$

1,135

Time deposits under trade structured finance program

102

208

Trade accounts receivable, net

3,975

3,870

Inventories (a)

15,428

13,198

Assets held for sale

196

191

Other current assets

6,554

5,789

Total current assets

27,094

24,391

Property, plant and equipment, net

11,877

11,678

Operating lease assets

1,733

1,686

Goodwill and other intangible assets, net

3,595

3,450

Investments in affiliates

1,276

1,495

Other non-current assets

2,001

1,828

Total assets

$

47,576

$

44,528

Liabilities and Equity

Short-term debt

$

3,245

$

3,883

Current portion of long-term debt

1,361

1,337

Letter of credit obligations under trade structured finance program

102

208

Trade accounts payable

6,176

4,881

Current operating lease obligations

501

499

Liabilities held for sale

60

61

Other current liabilities

5,495

4,258

Total current liabilities

16,940

15,127

Long-term debt

9,947

8,831

Non-current operating lease obligations

1,135

1,097

Other non-current liabilities

2,077

2,051

Total liabilities

30,099

27,106

Redeemable noncontrolling interest

51

53

Total equity

17,426

17,369

Total liabilities, redeemable noncontrolling interest and equity

$

47,576

$

44,528

Condensed Consolidated Statements of Cash Flows (Unaudited) Three Months Ended
March 31,

(US$ in millions)

2026

2025

Operating Activities

Net income (loss) (1)

$

75

$

204

Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:

Foreign exchange (gain) loss on net debt

(102

)

(84

)

Depreciation, depletion and amortization

238

120

Share-based compensation expense

23

19

Deferred income tax expense (benefit)

(58

)

22

Results from affiliates

(3

)

(5

)

Other, net

12

25

Changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions:

Trade accounts receivable

(1

)

(136

)

Inventories

(2,169

)

(1,245

)

Secured advances to suppliers

(124

)

(39

)

Trade accounts payable and accrued liabilities

1,003

898

Advances on sales

(77

)

(140

)

Net unrealized (gain) loss on derivative contracts

958

27

Margin deposits

(295

)

21

Recoverable and income taxes, net

77

77

Marketable securities

(98

)

(35

)

Other, net

—

(14

)

Cash provided by (used for) operating activities

(541

)

(285

)

Investing Activities

Payments made for capital expenditures

(336

)

(310

)

Acquisitions of businesses (net of cash acquired)

(105

)

—

Proceeds from investments

681

339

Payments for investments

(443

)

(455

)

Settlement of net investment hedges

—

4

Proceeds from sale of investments in affiliates

—

100

Payments for investments in affiliates

(5

)

(25

)

Other, net

26

67

Cash provided by (used for) investing activities

(182

)

(280

)

Financing Activities

Net borrowings (repayments) of short-term debt

(639

)

453

Net proceeds (repayments) of long-term debt

1,190

(55

)

Dividends paid to registered or common shareholders

(136

)

(91

)

Capital contributions (return of capital) from noncontrolling interests, net

16

7

Sale of redeemable noncontrolling interest

—

206

Acquisition of noncontrolling interest

—

(18

)

Other, net

(25

)

(12

)

Cash provided by (used for) financing activities

406

490

Effect of exchange rate changes on cash and cash equivalents, and restricted cash

(2

)

(4

)

Net increase (decrease) in cash and cash equivalents, and restricted cash

(319

)

(79

)

Cash and cash equivalents, and restricted cash - beginning of period

1,166

3,328

Cash and cash equivalents, and restricted cash - end of period

$

847

$

3,249

Definition and Reconciliation of Non-GAAP Measures This earnings release contains certain "non-GAAP financial measures" as defined in Regulation G of the Securities Exchange Act of 1934. Bunge has reconciled these non-GAAP financial measures to the most directly comparable U.S. GAAP measures below. These measures may not be comparable to similarly titled measures used by other companies.

Total EBIT and Adjusted Total EBIT

Bunge uses earnings before interest and tax ("EBIT”) to evaluate the operating performance of its individual reportable segments as well as Corporate and Other results. Total EBIT excludes EBIT attributable to noncontrolling interests. Bunge also uses Segment EBIT, Corporate and Other EBIT and Total EBIT to evaluate the operating performance of Bunge’s reportable segments and Total reportable segments together with Corporate and Other activities. Segment EBIT is the aggregate of the earnings before interest and taxes of each of Bunge’s Soybean Processing and Refining, Softseed Processing and Refining, Tropical Oils and Specialty Ingredients, and Grain Merchandising and Milling reportable segments. Total EBIT is the aggregate of the earnings before interest and taxes of Bunge’s reportable segments, together with its Corporate and Other activities.

Adjusted Segment EBIT, Adjusted Corporate and Other EBIT and Adjusted Total EBIT, are calculated by excluding temporary mark-to-market timing differences, as defined in note 2 below, and certain gains and (charges), as described in "Additional Financial Information" above, from Segment EBIT, Corporate and Other EBIT, and Total EBIT, respectively.

Segment EBIT, Corporate and Other EBIT, Total EBIT, Adjusted Segment EBIT, Adjusted Corporate and Other EBIT, and Adjusted Total EBIT are non-GAAP financial measures and are not intended to replace Net income (loss) attributable to Bunge, the most directly comparable U.S. GAAP financial measure. Bunge's management believes these non-GAAP measures are a useful measure of its operating profitability since the measures allow for an evaluation of performance without regard to financing methods or capital structure. For this reason, operating performance measures such as these non-GAAP measures are widely used by analysts and investors in Bunge's industries. These non-GAAP measures are not a measure of consolidated operating results under U.S. GAAP and should not be considered as an alternative to Net income (loss) or any other measure of consolidated operating results under U.S. GAAP.

Net Income (loss) attributable to Bunge to Adjusted Net Income (loss) attributable to Bunge

Adjusted Net Income (loss) excludes temporary mark-to-market timing differences, as defined in note 2 below, and certain gains and (charges), as described in "Additional Financial Information" above, and is a non-GAAP financial measure. This measure is not a measure of Net income (loss) attributable to Bunge, the most directly comparable U.S. GAAP financial measure. It should not be considered as an alternative to Net Income (loss) attributable to Bunge, Net Income (loss), or any other measure of consolidated operating results under U.S. GAAP. Bunge's management believes Adjusted Net income (loss) is a useful measure of the Company's profitability.

We also have presented projected Adjusted Net income per share for 2026. This information is provided only on a non-GAAP basis without reconciliation to projected Net Income per share for 2026, the most directly comparable U.S. GAAP measure. The most directly comparable GAAP measure has not been provided due to the inability to quantify certain amounts necessary for such reconciliation, including but not limited to potentially significant future market price movements in 2026, and Bunge believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The information necessary to prepare the comparable U.S. GAAP presentation could result in significant differences from projected Adjusted Net income per share for full-year 2026.

Below is a reconciliation of Net income (loss) attributable to Bunge, to Total EBIT, and Adjusted Total EBIT:

Three Months Ended

March 31,

(US$ in millions)

2026

2025

Net income (loss) attributable to Bunge

$

68

$

201

Interest income

(45

)

(59

)

Interest expense

181

104

Income tax expense (benefit)

(14

)

80

Noncontrolling interest share of interest and tax

(6

)

2

Total EBIT

$

184

$

328

Soybean Processing and Refining EBIT

$

209

$

271

Softseed Processing and Refining EBIT

76

82

Tropical Oils and Specialty Ingredients EBIT

110

5

Grain Merchandising and Milling EBIT

(76

)

46

Segment EBIT

$

319

$

404

Corporate and Other EBIT

$

(135

)

$

(76

)

Total EBIT

$

184

$

328

Mark-to-market timing difference

336

2

Certain (gains) & charges

41

32

Adjusted Total EBIT

$

561

$

362

Below is a reconciliation of Net income (loss) attributable to Bunge, to Adjusted Net income (loss) attributable to Bunge:

Three Months Ended

March 31,

(US$ in millions, except per share data)

2026

2025

Net income (loss) attributable to Bunge

$

68

$

201

Adjustment for Mark-to-market timing difference

250

10

Adjusted for Certain (gains) and charges:

Acquisition and integration costs

41

33

Adjusted Net income (loss) attributable to Bunge

$

359

$

244

Weighted-average shares outstanding - diluted (a)

196

135

Adjusted Net income (loss) per share - diluted

$

1.83

$

1.81

Adjusted Funds From Operations

Adjusted FFO is calculated by excluding from Cash provided by (used for) operating activities, foreign exchange gain (loss) on net debt, working capital changes, net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests, and mark-to-market timing differences after tax. Adjusted FFO is a non-GAAP financial measure and is not intended to replace Cash provided by (used for) operating activities, the most directly comparable U.S. GAAP financial measure. Bunge's management believes the presentation of this liquidity measure allows investors to view its cash generating performance using the same measure that management uses in evaluating financial and business performance and trends without regard to foreign exchange gains and losses, working capital changes and mark-to-market timing differences. This non-GAAP measure is not a measure of consolidated cash flow under U.S. GAAP and should not be considered as an alternative to Cash provided by (used for) operating activities, Net increase (decrease) in cash and cash equivalents, and restricted cash, or any other measure of consolidated cash flow under U.S. GAAP.

Notes Three months ended March 31,

(US$ in millions)

2026

2025

Net income (loss) attributable to Bunge

$

68

$

201

EBIT attributable to noncontrolling interest

13

1

Noncontrolling interest share of interest and tax

(6

)

2

Net income (loss)

$

75

$

204

Three Months Ended

March 31,

(US$ in millions)

2026

2025

Cash provided by (used for) operating activities​

$

(541

)

$

(285

)

Foreign exchange gain (loss) on net debt​

102

84

Working capital changes​

726

586

Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests​

(7

)

(3

)

Mark-to-Market timing difference, after tax​

250

10

Adjusted FFO

$

530

$

392

Bunge Global (BG - Free Report) came out with quarterly earnings of $1.83 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $1.81 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +89.64%. A quarter ago, it was expected that this agribusiness and food company would post earnings of $1.82 per share when it actually produced earnings of $1.99, delivering a surprise of +9.34%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Bunge Global, which belongs to the Zacks Agriculture - Products industry, posted revenues of $21.86 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 6.39%. This compares to year-ago revenues of $11.64 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Bunge Global shares have added about 41.9% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for Bunge Global?While Bunge Global has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Bunge Global was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.69 on $23.49 billion in revenues for the coming quarter and $8.68 on $93.8 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Agriculture - Products is currently in the top 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, BrightView Holdings (BV - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 5.

This investment company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of -42.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

BrightView Holdings' revenues are expected to be $644.51 million, down 2.7% from the year-ago quarter.

For the quarter ended March 2026, Bunge Global (BG - Free Report) reported revenue of $21.86 billion, up 87.8% over the same period last year. EPS came in at $1.83, compared to $1.81 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $23.35 billion, representing a surprise of -6.39%. The company delivered an EPS surprise of +89.64%, with the consensus EPS estimate being $0.97.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Bunge Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Volume - Soybean Processing and Refining - Soybeans processed: 10,757.00 MTons compared to the 10,340.25 MTons average estimate based on two analysts.Volume - Soybean Processing and Refining - Soybeans merchandised: 5,133.00 MTons compared to the 4,745.13 MTons average estimate based on two analysts.Volume - Soybean Processing and Refining - Refined oil production: 857.00 MTons versus 880.48 MTons estimated by two analysts on average.Volume - Grain Merchandising and Milling: $26.56 billion compared to the $26.59 billion average estimate based on two analysts.Volume - Softseed Processing and Refining - Softseeds merchandised: 1,406.00 MTons versus 785.00 MTons estimated by two analysts on average.Volume - Softseed Processing and Refining - Refined oil production: 773.00 MTons versus the two-analyst average estimate of 735.28 MTons.Volume - Softseed Processing and Refining - Softseeds processed: 3,281.00 MTons compared to the 3,236.15 MTons average estimate based on two analysts.Adjusted EBIT- Soybean Processing and Refining: $377 million versus $252.87 million estimated by two analysts on average.Adjusted EBIT- Softseed Processing and Refining: $195 million compared to the $144.93 million average estimate based on two analysts.Adjusted EBIT- Corporate: $-113 million compared to the $-122.93 million average estimate based on two analysts.Adjusted EBIT- Corporate and Other: $-100 million compared to the $-121.68 million average estimate based on two analysts.Adjusted EBIT- Grain Merchandising and Milling: $44 million compared to the $97.99 million average estimate based on two analysts.View all Key Company Metrics for Bunge Global here>>>

Shares of Bunge Global have returned -0.7% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Braskem (BAK - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Braskem is one of 248 companies in the Basic Materials group. The Basic Materials group currently sits at #14 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Braskem is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for BAK's full-year earnings has moved 11.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, BAK has moved about 22.4% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 12.1%. This shows that Braskem is outperforming its peers so far this year.

Bunge Global (BG - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 41.8%.

The consensus estimate for Bunge Global's current year EPS has increased 0.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Braskem belongs to the Chemical - Specialty industry, a group that includes 44 individual stocks and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have gained about 10.6% so far this year, so BAK is performing better this group in terms of year-to-date returns.

Bunge Global, however, belongs to the Agriculture - Products industry. Currently, this 3-stock industry is ranked #19. The industry has moved +28% so far this year.

Investors interested in the Basic Materials sector may want to keep a close eye on Braskem and Bunge Global as they attempt to continue their solid performance.

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You don’t need to be an economist to determine that the path of least resistance for inflation will be higher as 2026 rolls on. While energy prices are the biggest determining factor, we have seen grocery prices, especially in the meat department, remain elevated for months, and electricity costs could rise as more data centers are built and come online. The bottom line is that energy prices touch everything, and while they likely won’t stay above $100 when the Iran conflict is resolved, they will remain higher than previously anticipated for 2026.

One thing is for sure: history shows that five sectors tend to outperform during inflationary periods, and all offer some outstanding companies to invest in now. We found five stocks, one in each sector, and all are rated Buy at the top Wall Street companies we cover here at 24/7 Wall St.

Here are the five sectors that typically do better during inflationary times:

Energy Materials/Commodities Real Estate Financials Consumer Staples Obviously, the energy sector exploded higher at the outset of the conflict with Iran, but there are still outstanding opportunities. We screened all five sectors and found five outstanding companies, one in each sector that pays big, reliable dividends and should do well as 2026 progresses and prices stay elevated. Hopefully, the economy will remain strong enough that inflation doesn’t turn into a period of stagflation, a term that describes a stagnant economy with inflation.

Energy: Enterprise Products Partners This top midstream giant is an American midstream natural gas and crude oil pipeline company headquartered in Houston, Texas. Enterprise Products Partners (NYSE: EPD | EPD Price Prediction) is one of the most extensive publicly traded energy partnerships, paying a very reliable 5.89% dividend.

The company’s debt-to-EBITDA ratio ranges from 3.1x to 3.4x, which is moderate for a midstream energy company, and its interest coverage ratio is 5x. Enterprise Products Partners generates strong free cash flow, with an operating cash flow of approximately $8.8 billion, resulting in around $4.2 billion in free cash flow annually, after deducting capital expenditures. Another significant benefit for shareholders is that most of the corporate debt is fixed-rate, thereby limiting the risk of rising interest rates.

The company provides various midstream energy services, including:

Gathering Processing Transporting and storing natural gas, natural gas liquids (NGL), and fractionation Import and export terminalling Offshore production platform The company has four reportable business segments:

Natural Gas Pipelines and Services NGL Pipelines and Services Petrochemical Services Crude Oil Pipelines and Services One reason many analysts like the stock might be its distribution coverage ratio. The company’s coverage ratio is well above 1x, making it relatively less risky among the master limited partnerships.

Wells Fargo has an Overweight rating with a $42 target price objective.

Materials/Commodities: Bunge Global While off the radar of many investors, this company, located outside St. Louis, pays a 2.26% dividend and could be a big winner the rest of 2026. Bunge Global (NYSE: BG) is an agribusiness and food company that operates through four segments:

Agribusiness Refined and Specialty Oils Milling and Sugar Bioenergy The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds, primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn. It processes oilseeds into vegetable oils and protein meals.

This segment offers its products for:

Animal feed manufacturers Livestock producers Wheat and corn millers Oilseed processors Third-party edible oil processing Biofuel companies for biofuel production applications The Refined and Specialty Oils segment sells packaged and bulk oils and fats that comprise:

Cooking oils Shortenings Margarines Mayonnaise Renewable diesel feedstocks Products for baked goods companies, snack food producers, confectioners, restaurant chains, foodservice operators, infant nutrition companies, other food manufacturers, grocery chains, wholesalers, distributors, and other retailers This segment also refines and fractionates palm oil, palm kernel oil, coconut oil, shea butter, and olive oil, and produces specialty ingredients derived from vegetable oils, such as lecithin.

The Milling segment provides wheat flours and bakery mixes; corn milling products comprising dry-milled corn meals and flours, wet-milled masa and flours, and flaking and brewer’s grits; soy-fortified corn meal, corn-soy blends, and other products; whole-grain and fiber ingredients; die-cut pellets; and non-GMO products.

The Sugar and Bioenergy segment produces sugar and ethanol, and generates electricity from burning sugarcane bagasse.

BMO Capital Markets has an Outperform rating with a target price of $150.

Real Estate: Simon Property Group Simon Property Group (NYSE: SPG), a leading real estate company, is a self-administered and self-managed real estate investment trust (REIT) that pays a solid 4.23% dividend. It owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations, primarily consisting of malls, Premium Outlets, and The Mills.

The company owns or holds an interest in approximately 196 income-producing properties in the United States, which consist of :

93 malls 70 Premium Outlets 14 Mills Six lifestyle centers 13 other retail properties in 37 states and Puerto Rico It also holds an interest in 22 regional, super-regional, and outlet malls in the United States and Asia.

Additionally, redevelopment and expansion projects, including the addition of anchors, big-box tenants, and restaurants, are underway at properties in North America, Europe, and Asia. Internationally, the company owns 35 Premium Outlets and Designer Outlet properties, primarily located in Asia, Europe, and Canada. It also has two luxury outlet destinations in Italy.

Piper Sandler has an Overweight rating with a $230 target price.

Financials: U.S. Bancorp Based in Minneapolis, this super-regional financial giant is an outstanding choice for growth and income investors now, offering a hefty 3.71% dividend. U.S. Bancorp (NYSE: USB) is a financial services holding company.

The bank’s segments are:

Wealth Corporate Commercial and Institutional Banking Consumer and Business Banking Payment Services Treasury and Corporate Support It offers a comprehensive range of financial services, including lending and deposit services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage, and leasing.

The company’s banking subsidiary, U.S. Bank National Association (USBNA), is engaged in the banking business, principally in domestic markets. USBNA provides a range of products and services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions.

The non-banking subsidiaries offer investment and insurance products to customers primarily within their domestic markets, as well as fund administration services to a range of mutual and other funds.

Oppenheimer has an Outperform rating with a $73 target price.

Consumer Staples: Altria Altria (NYSE: MO) is one of the world’s largest producers and marketers of cigarettes and other tobacco-related products. It offers value investors a solid entry point and a 6.17% dividend. Altria manufactures and sells smokable and oral tobacco products in the United States, and it primarily sells cigarettes under the Marlboro brand, as well as:

Cigars and pipe tobacco, principally under the Black & Mild and Middleton brands Moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands on! Oral nicotine pouches e-vapor products under the NJOY ACE brand The company sells its tobacco products primarily to wholesalers, including distributors and large retail organizations, such as chain stores.

Altria used to own over 10% of Anheuser-Busch InBev (NYSE: BUD), the world’s largest brewer. In March of 2024, the company sold 35 million of its 197 million shares through a global secondary offering. That represents 18% of its holdings but still leaves 8% of the outstanding shares in its back pocket. Altria also announced a $2.4 billion stock repurchase plan partially funded by the sale.

Altria increased its quarterly dividend in the fall of 2025 by 3.9%, from $1.02 to $1.06 per share, marking its 55th consecutive dividend increase.

UBS has a Buy rating with a $74 target price.

ST. LOUIS--(BUSINESS WIRE)--Shareholders of Bunge Global SA (NYSE: BG) approved a cash dividend in the amount of $2.88 per share, payable in four equal installments of $0.72, at the Company’s 2026 Annual General Meeting held in Geneva, Switzerland, today (“AGM”). The quarterly dividends, which represent an increase of $0.02 per share from last year, will be paid as indicated below:

Bunge Quarter, Fiscal Year

Payment Date

Record Date

Amount

2nd Quarter, Fiscal Year 2026

June 1, 2026

May 22, 2026

$0.72

3rd Quarter, Fiscal Year 2026

September 1, 2026

August 18, 2026

$0.72

4th Quarter, Fiscal Year 2026

December 1, 2026

November 17, 2026

$0.72

1st Quarter, Fiscal Year 2027

March 2, 2027

February 16, 2027

$0.72

About Bunge

At Bunge our purpose is to connect farmers to consumers to deliver essential food, feed, and fuel to the world. As a premier agribusiness solutions provider, our dedicated employees partner with farmers across the globe to move agricultural commodities from where they’re grown to where they’re needed—in faster, smarter, and more efficient ways. We are a world leader in grain origination, storage, distribution, oilseed processing and refining, offering a broad portfolio of plant-based oils, fats, and proteins. We work alongside our customers at both ends of the value chain to deliver quality products and develop tailored, innovative solutions that address evolving consumer needs. With 200+ years of experience and presence in over 50 countries, we are committed to strengthening global food security, advancing sustainability, and helping communities prosper where we operate. Bunge has its registered office in Geneva, Switzerland, and its corporate headquarters in St. Louis, Missouri. Learn more at Bunge.com.

Website Information

We routinely post important information for investors on our website, www.bunge.com, in the "Investor Center" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

The Zacks Agriculture - Products industry will benefit from the stable demand for food, supported by an increasing population. Rising consumer awareness regarding food ingredients and the preference for healthier options will drive industry expansion. Alternative and innovative agricultural technologies, such as hydroponics and vertical farming, are expected to serve as significant growth drivers due to their inherent advantages.

Companies like Bunge Global S.A. (BG - Free Report) and GrowGeneration (GRWG - Free Report) are poised to gain from strong end-market demand and their ongoing growth initiatives aimed at capitalizing on these trends.

Industry Description The Zacks Agriculture – Products industry comprises companies that are either involved in storing agricultural commodities, distributing ingredients to others or engaged in farming crops, livestock and poultry products. Some are associated with purchasing, storing, transporting, processing and selling agricultural commodities or products derived from the same. They operate grain elevators, wherein income is generated from commodities bought and sold using these elevators or held as inventory. Some companies provide nutrients, advanced indoor and greenhouse lighting, environmental control systems, and accessories for hydroponic gardening — the method of growing plants using mineral nutrient solutions in a water solvent instead of soil. A few players offer innovative, plant-based health and wellness products. Companies producing lumber also fall under this industry.

Trends Shaping the Future of the Agriculture - Products Industry Solid Demand to Support Industry: The demand for food is directly influenced by population, demographic shifts and income growth. To capitalize on this, several agricultural and food-based companies are investing in innovation and augmenting their product and market strategies to bring new quality and healthy food ingredients to the market. Ongoing improvements in grain-handling techniques and investment in larger storage spaces will likely support the industry. Given that food remains an essential commodity regardless of the condition of the economy, the industry benefits from stable earnings across economic cycles.

Hydroponics & Cannabis Act as Key Catalysts: Hydroponics is gaining popularity as it gives growers the ability to regulate and manage nutrient delivery, light, air, water, humidity, pests and temperature in an indoor setting. This method enables faster crop growth, with higher yields than traditional soil-based cultivation. It is being utilized in new and emerging industries, including the cultivation of cannabis and hemp. Vertical farms producing organic fruits and vegetables also utilize hydroponics due to the shortage of farmland and environmental vulnerabilities. Vertical farming is the latest agricultural technology, wherein shelves and artificial lighting systems are used to grow produce, thereby minimizing land and water usage. While the cannabis industry has faced short-term challenges from pricing pressure, oversupply and regulatory uncertainties in some markets, its long-term outlook remains favorable as legalization expands, consumer acceptance grows and regulated markets continue to mature.

Cost-Saving Actions to Aid Margins: Players in the industry are facing rising labor, packaging and distribution costs, among others. The U.S. Department of Agriculture (USDA) expects total production expenses, including those associated with operator dwellings, to rise 1% to $477.7 billion in 2026. Livestock and poultry purchases, feed and labor are likely to remain the largest expense categories. While spending on livestock and poultry purchases is projected to record the steepest increase, rising 9.7%, feed expenses are expected to decline 6.8% in 2026. The industry, however, continues to navigate a tight labor market with a spike in wages and higher distribution costs. They have been making efforts to bolster their financial conditions, conserve cash and improve profitability by implementing pricing and cost-reduction actions to sustain margins. However, the economic uncertainty stemming from tariffs poses challenges for industry players.

Zacks Industry Rank Indicates Bright Prospects The Zacks Agriculture - Products industry is part of the broader Zacks Basic Materials sector. The industry currently carries a Zacks Industry Rank #51, which places it in the top 21% of the 246 Zacks industries.

The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bright prospects in the near term. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.

Before we present a few stocks worth considering for your portfolio, let us look at the industry’s recent stock market performance and valuation.

Industry Versus Broader Market The Zacks Agriculture – Products industry has outperformed its sector and the Zacks S&P 500 composite over the past 12 months. Stocks in this industry have moved up 40.6% in the past 12 months compared with the S&P 500’s 26.7% growth. The Basic Materials sector has gained 30.1% in the same timeframe.

One-Year Price Performance

Industry's Current Valuation On the basis of the trailing 12-month EV/EBITDA ratio, a commonly used multiple for valuing Agriculture - Products stocks, we see that the industry is currently trading at 8.76X compared with the S&P 500’s 18.40X. The Basic Materials sector’s trailing 12-month EV/EBITDA is 13.25X. This is shown in the charts below.

Enterprise Value/EBITDA (EV/EBITDA) Ratio (TTM)

Enterprise Value/EBITDA (EV/EBITDA) Ratio (TTM)

Over the last five years, the industry traded as high as 11.00 and as low as 3.68X, the median being 5.33X.

2 Agriculture - Products Stocks to Keep an Eye on Bunge: The company completed the acquisition of Viterra in July 2025, which created a premier global agribusiness solutions company for food, feed and fuel, well-positioned to meet the demands of increasingly complex markets and better serve farmers and end customers.  Bunge is positioning itself as a scaled, pure-play global agribusiness solutions platform with an integrated “origin-to-customer” footprint across oilseeds and grains, supported by a global value-chain operating model and centralized risk management designed to optimize logistics, capture arbitrage and manage exposures through volatile markets. Management also highlights an expected increase to at least $15 in earnings per share by the end of 2030 (from the $8.50 in 2025), supported by the ramp-up of inflight capital projects, Viterra integration, alongside ongoing cost synergies and productivity work. For shareholders, Bunge emphasizes cash generation through the cycle, a commitment to return at least 50% of discretionary cash flow via dividends and buybacks, and maintaining an investment-grade balance sheet (to support both growth and shareholder returns). 

Bunge is an integrated global agribusiness and food company covering the farm-to-consumer food chain. The Zacks Consensus Estimate for the St. Louis, MO-based company’s earnings for 2026 suggests year-over-year growth of 26.4%. The estimate has moved up 17% over the past 60 days. BG has a trailing four-quarter earnings surprise of 27.5%, on average. BG currently sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Price & Consensus: BG

GrowGeneration:  The company delivered the second consecutive quarter of year-over-year revenue growth in the first quarter of 2026, driven by continued strength in its commercial B2B division and the benefits of a more focused operating footprint. Cost-reduction initiatives are also yielding tangible results, contributing to a $2.4 million improvement in adjusted EBITDA and a reduction in net loss in the quarter. The company is also advancing its strategy to expand higher-margin proprietary brand sales, which accounted for 37% of Cultivation and Gardening net sales during the quarter, and remains on track to reach its 40% year-end goal. Looking ahead, GrowGeneration expects further gains in gross margin and operating efficiency throughout 2026. Supported by inventory optimization efforts, full-year gross margins are projected to range between 27% and 29%. The company also expects to reach breakeven adjusted EBITDA for the full year, with profitability improving as the year progresses. Profitable second and third quarters are anticipated, driven by the outdoor cultivation season, stronger margins and a leaner operating cost structure compared with 2025. The company’s acquisition strategy focused on acquiring well-established, profitable hydroponic garden centers and proprietary brands, and private-label brands bode well.

Greenwood Village, CO-based GrowGeneration owns and operates retail hydroponic and organic gardening stores in the United States. The Zacks Consensus Estimate for the company’s fiscal 2026 bottom line is pegged at a loss of 22 cents per share, suggesting a narrower loss from the 40 cents incurred in fiscal 2025. The estimate has moved up from a loss of 23 cents 60 days ago to the current projected loss of 22 cents. GRWG currently carries a Zacks Rank #3 (Hold).

Price & Consensus: GRWG

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) will hold a webcast and conference call on Tuesday, April 7, 2026, at 8:00 a.m. MT (10:00 a.m. ET). During the call, Pembina's officer team will present a business update that reaffirms the Company's longstanding commitment to disciplined execution; outlines the 3Cs Strategy - Capture, Connect, and Catalyze; and provides a financial outlook to the end of the decade, including 5-7 p.

PBA outlines a clear path to 5%-7% annual profit growth, backed by asset optimization and new projects.

PBA targets 5-7% EBITDA growth through 2030, but stock underperformance and macro risks cloud near-term upside.

Posted by Defense World Staff on Apr 25th, 2026

Pembina Pipeline Co. (TSE:PPL – Get Free Report) (NYSE:PBA) has been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$62.55.

Several analysts have issued reports on the company. TD Securities boosted their price objective on Pembina Pipeline from C$63.00 to C$65.00 and gave the stock a “hold” rating in a report on Wednesday, April 8th. National Bank Financial boosted their price objective on Pembina Pipeline from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Barclays boosted their price objective on Pembina Pipeline from C$62.00 to C$63.00 in a report on Wednesday, April 8th. ATB Cormark Capital Markets boosted their price objective on Pembina Pipeline from C$64.00 to C$66.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Finally, BMO Capital Markets boosted their price objective on Pembina Pipeline from C$60.00 to C$63.00 in a report on Wednesday, April 8th.

Read Our Latest Report on Pembina Pipeline

Pembina Pipeline Price Performance Shares of Pembina Pipeline stock opened at C$59.29 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.50 and a debt-to-equity ratio of 82.58. The company’s 50-day moving average price is C$60.71 and its two-hundred day moving average price is C$56.30. Pembina Pipeline has a 52 week low of C$48.74 and a 52 week high of C$64.27. The stock has a market cap of C$34.47 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.58 and a beta of 0.36.

Pembina Pipeline (TSE:PPL – Get Free Report) (NYSE:PBA) last issued its quarterly earnings results on Thursday, February 26th. The company reported C$0.78 EPS for the quarter. Pembina Pipeline had a net margin of 21.66% and a return on equity of 9.91%. The firm had revenue of C$1.91 billion for the quarter. As a group, sell-side analysts anticipate that Pembina Pipeline will post 3.439908 EPS for the current fiscal year.

Pembina Pipeline Company Profile (Get Free Report)

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America’s energy industry for more than 70 years. Pembina owns an extensive network of strategically located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities.

Read More Five stocks we like better than Pembina Pipeline

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Pembina Pipeline (PBA - Free Report) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 8. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis oil and gas transportation and services company is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of -7.1%.

Revenues are expected to be $1.29 billion, down 18.7% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 11.61% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Pembina Pipeline?For Pembina Pipeline, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.65%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Pembina Pipeline will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Pembina Pipeline would post earnings of $0.5 per share when it actually produced earnings of $0.56, delivering a surprise of +12.00%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Pembina Pipeline appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Pembina Pipeline (PBA) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.56 per share a year ago.

The First Trust S&P International Dividend Aristocrats ETF (NASDAQ:FID) gives U.S.

Pembina Pipeline NYSE: PBA reported a strong start to 2026, with management raising its full-year adjusted EBITDA outlook after first-quarter results benefited from solid volumes across key systems and an improved marketing outlook.

This news release refers to certain financial measures and ratios that are not specified, defined or determined in accordance with Generally Accepted Accounting Principles ("GAAP"), including earnings before interest, taxes, depreciation and amortization ("EBITDA") build multiple. For more information see "Non-GAAP and Other Financial Measures" herein.

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) announced today that it is proceeding with the Heartland Extraction Plant ("HEP") and provided an update on its ethane supply agreement with Dow.

The sanctioning of HEP represents a capital efficient, low-risk monetization of Pembina's liquids extraction rights on the Yellowhead Pipeline, with future growth potential. Through new and amended agreements, Pembina and Dow reached a mutually beneficial solution that has increased the overall ethane supply commitment, better aligned the volume profile with Dow's revised Path2Zero project schedule, and supported the economics of the HEP project. As previously disclosed, Pembina pursued an optimized ethane portfolio solution in support of its Dow supply commitments and is excited to sanction this project, which also provides Pembina the economic benefits of propane-plus natural gas liquids ("NGL") production. Additionally, sanctioning HEP is another important step towards realizing Pembina's recently announced 5-7 percent fee-based adjusted EBITDA per share growth target to 2030.

Heartland Extraction Plant Project Highlights

A new 750 million cubic feet per day straddle plant to extract NGL under Pembina's extraction rights on the Yellowhead Pipeline. This upsized project is an evolution of the previously disclosed Yellowhead Extraction Plant project. HEP now includes incremental capacity to accommodate future additional opportunities on a capital efficient basis, enhancing Pembina's Alberta Industrial Heartland footprint. Pembina has signed a long-term agreement at HEP to supply Dow with ethane beginning in late 2029, scaling to 22,500 barrels per day ("bpd") by the end of 2030. Following extraction at HEP, ethane-plus mix will be processed at a combination of Dow's Fort Saskatchewan facility and Pembina's Redwater Complex. Pembina will retain the associated propane-plus production related to the project and will benefit from downstream fractionation and marketing of up to 9,500 bpd of propane-plus NGL. HEP has an estimated cost of approximately $570 million, and an anticipated in-service date in late 2029. EBITDA generated from the project will consist of both fixed-fee revenue and frac spread exposure. Using long-term average historical pricing, the EBITDA build multiple for the project is expected to range from 5-7 times. Dow Ethane Supply Agreement Update

In connection with the new firm volume commitment at HEP, Pembina and Dow have amended the terms of their previously announced ethane supply agreement. Under the amended long-term agreement, Pembina will supply Dow with 35,000 bpd of ethane commencing with the start up of Dow's Path2Zero project, which is expected to enter service in 2029. Pembina will source the 35,000 bpd of ethane from its existing supply portfolio, leveraging its integrated value chain, including deep cut gas processing plants, ethane-plus transportation franchise, and fractionation capabilities.

Including the new agreement at HEP (22,500 bpd) and the amended supply agreement (35,000 bpd), Pembina will supply Dow with a total of 57,500 bpd of ethane, representing a 15 percent increase compared to the original agreement of 50,000 bpd.

"This outcome further demonstrates Pembina's ability to find win-win solutions with our customers. We have strengthened our relationship with Dow while advancing Pembina's strategy and ability to deliver capital-efficient growth," said Scott Burrows, President and Chief Executive Officer of Pembina. "By aligning volumes with Dow's needs and leveraging our existing asset base, we are enhancing the value of our NGL franchise and catalyzing hydrocarbon demand in Western Canada."

About Pembina

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit www.pembina.com.

Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive.

Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division.

Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.

Forward-Looking Information and Statements

This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "schedule", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "project", "plan", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance.

In particular, this news release contains forward-looking statements and financial outlooks pertaining to, without limitation, the following: Pembina's strategy and the development and expected timing of new business initiatives and growth opportunities, including the HEP, and the expected costs, impacts, and benefits thereof; expectations regarding existing and future commercial agreements, including those with Dow, and the anticipated timing, product volumes, and benefits thereof; the successful completion of related third-party projects; statements regarding Pembina's financial and operational performance, including expected project build multiples, revenue generation, and commodity price exposure; expectations regarding the future performance of the Company's assets, including future pipeline, processing, and fractionation operations; and targets regarding fee-based adjusted EBITDA per share growth.

These forward-looking statements are based on certain factors and assumptions that Pembina has made in respect thereof as at the date of this news release, including, among other things: oil and gas industry exploration and development activity levels and the geographic region of such activity; the success of Pembina's operations; prevailing commodity prices (including long-term average historical pricing and frac spreads), interest rates, carbon prices, tax rates, exchange rates and inflation rates; the ability of Pembina to maintain current credit ratings; the availability and cost of capital to fund future capital requirements relating to existing assets, projects and the repayment or refinancing of existing debt as it becomes due; future operating costs; geotechnical and integrity costs; that any third-party projects relating to Pembina's growth projects, including Dow's Path2Zero project, will be sanctioned and completed as expected; that any required commercial agreements can be reached in the manner and on the terms expected by Pembina; that all required regulatory and environmental approvals can be obtained on acceptable terms and in a timely manner; that counterparties will comply with contracts in a timely manner; that there are no unforeseen events preventing the performance of contracts or the completion of the relevant projects; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; the amount of future liabilities relating to lawsuits and environmental incidents; and the availability of coverage under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy).

Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings, and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; reliance on key relationships, joint venture partners and agreements; labour and material shortages; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by contractual counterparties; actions by governmental or regulatory authorities, including changes in laws and treatment, changes in royalty rates, regulatory decisions, changes in regulatory processes or increased environmental regulation; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions, including potential recessions in Canada, North America and worldwide resulting in changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, inflation, commodity prices, supply/demand trends and overall industry activity levels; new Canadian and/or U.S. trade policies or barriers, including the imposition of new tariffs, duties or other trade restrictions; geopolitical risks; constraints on the, or the unavailability of, adequate supplies, infrastructure or labour; the political environment in North America and elsewhere, including changes in trade relations between Canada and the U.S., and public opinion thereon; the ability to access various sources of debt and equity capital; adverse changes in credit ratings; counterparty credit risk; technology and cyber security risks; natural catastrophes; and certain other risks detailed in Pembina's Annual Information Form and Management's Discussion and Analysis, each dated February 26, 2026 for the year ended December 31, 2025 and from time to time in Pembina's public disclosure documents available at www.sedarplus.ca, www.sec.gov and through Pembina's website at www.pembina.com.

This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected by forward-looking statements contained herein. The forward-looking statements contained in this news release speak only as of the date of this news release. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking information and financial outlooks contained in this news release have been approved by management as of the date of this news release. The purpose of these financial outlooks is to assist readers in understanding Pembina's expected and targeted financial results, and this information may not be appropriate for other purposes. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Non-GAAP and Other Financial Measures

Throughout this news release, Pembina has disclosed certain financial measures and ratios that are not specified, defined or determined in accordance with GAAP and which are not disclosed in Pembina's financial statements. Non-GAAP financial measures either exclude an amount that is included in, or include an amount that is excluded from, the composition of the most directly comparable financial measure specified, defined and determined in accordance with GAAP. Non-GAAP ratios are financial measures that are in the form of a ratio, fraction, percentage or similar representation that has a non-GAAP financial measure as one or more of its components. These non-GAAP financial measures and non-GAAP ratios, together with financial measures and ratios specified, defined and determined in accordance with GAAP, are used by management to evaluate the performance and cash flows of Pembina and its businesses and to provide additional useful information respecting Pembina's financial performance and cash flows to investors and analysts.

In this news release, Pembina has disclosed the following non-GAAP ratio: EBITDA build multiple. The non-GAAP financial measure that is used as a component of this non-GAAP ratio is estimated incremental EBITDA, which is an estimate of the incremental EBITDA expected to be generated by the Heartland Extraction Plant. The EBITDA build multiple is calculated as the estimated capital cost of the project divided by the estimated expected incremental EBITDA. Management uses the EBITDA build multiple to evaluate the capital efficiency and expected return of the project. The equivalent historical non-GAAP financial measure to estimated incremental EBITDA is historical EBITDA, which has earnings as its most directly comparable financial measure specified, defined, and determined in accordance with IFRS. There are no significant differences between the composition of the forward-looking non-GAAP financial measure and the equivalent historical non-GAAP financial measure.

The non-GAAP financial measures and non-GAAP ratios disclosed in this news release do not have any standardized meaning under International Financial Reporting Standards ("IFRS") and may not be comparable to similar financial measures or ratios disclosed by other issuers. Such financial measures and ratios should not, therefore, be considered in isolation or as a substitute for, or superior to, measures and ratios of Pembina's financial performance, or cash flows specified, defined or determined in accordance with IFRS, including earnings.

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