Rosario, Argentina
February 6, 2025
Bioceres Crop Solutions Corp. (NASDAQ: BIOX) today provided preliminary revenues, gross profit and adjusted EBITDA for the fiscal second quarter, ended December 31, 2024.
Second quarter revenues are expected to be approximately $105 million, with gross profit of $45 million and adjusted EBITDA of $15 million. These results reflect challenging conditions in Argentina, which remains a decisive market for the financial performance of the company in the first half of the year. Farmer purchasing behavior in the country changed significantly compared to the prior year, driven by macroeconomic conditions and unfavorable weather. This, together with high channel inventories, led to lower crop protection and micro-beaded fertilizer sales.
“As referenced by agricultural input providers as well as distributors and equipment vendors in the marketplace, Argentina continued to face significant headwinds related to weather, farmer economics, and inventory overhang. While this environment has had a particularly negative effect on cyclical businesses such as micro-beaded fertilizers, we expect to continue to retain or gain market share in our most established product families. Structurally, we remain confident in the attractiveness of our unique and evolving portfolio of products and in our ability to deliver these solutions ourselves, or via our partners, to farmers globally. We look forward to providing further context on our earnings call, as well as discussing initiatives we are undertaking to mitigate these industry-wide challenges,” said Federico Trucco, CEO of Bioceres Crop Solutions.
The Company clarifies that the information provided in this document represents only an expectation, hypothetical data that by no means constitutes a promise of performance by the Company or its management. The estimates present involve market factors that are beyond the Company’s control and, therefore, can be subject to changes. The Company will provide further details in its upcoming earnings release. Bioceres Crop Solutions will release its second quarter 2025 earnings on Tuesday, February 11, 2025, after the stock market close, followed by a webcast conference call on Wednesday, February 12, 2025, at 8:30 a.m. ET.
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