S&W Seed Drops After Q2 Bottom-Line Miss

  • S&W Seed Co SANW reported second-quarter FY23 sales growth of 2.4% year-on-year, to $12.94 million, beating the consensus of $11.65 million.
  • Gross margin for the quarter improved 820 basis points to 21.3%, and the gross profit rose 65% to $2.7 million.
  • Operating expenses declined 14.9% to $8.99 million.
  • Operating loss for the quarter was $(6.2) million versus a loss of $(8.9) million last year.
  • The company held $1.3 million in cash and equivalents as of Dec. 31, 2022.
  • Adjusted EPS of $(0.13) missed the analyst consensus of $(0.12).
  • "As we enter the back half of our fiscal year, we are focused on advancing our biofuel JV, with initial grain production expected in late calendar 2023, and developing the key centers of value we outlined previously," said the management.
  • Outlook, reiterated: S&W sees FY23 revenue of $80 million - $92 million versus an estimate of $86.85 million.
  • The company expects FY23 adjusted EBITDA of $(7.0) million - $(2.0) million.
  • Price action: SANW shares are trading lower by 9.53% at $1.80 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!