AgroFresh Solutions (AGFS) Reports Q2 Loss of $0.51
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AgroFresh Solutions (NASDAQ: AGFS) reported Q2 EPS of ($0.51). Revenue for the quarter came in at $18.4 million, versus $17.7 million reported last year.
Dr. Nance Dicciani, Chair of AgroFresh's Board and acting co-CEO commented, "Sales and Adjusted EBITDA for the second quarter and first half of 2016 came in within guidance. We've accelerated the launch of our new product offerings, taken steps to defend and strengthen our market share, and made progress on our external development strategy. We are doing well with our SmartFresh™ and Harvista™ technologies against competition and we expect growth in the Northern Hemisphere with respect to both products. We expect our new product offerings to bring much-needed diversification to our portfolio."
In conclusion, Dr. Dicciani stated, "We feel good about our position, and our prospects of having a strong second half on the back of a good Northern Hemisphere apple crop, and we confirm our full year Adjusted EBITDA guidance of $90 million to $100 million. We continue to place a high emphasis on operating and financial discipline, and are excited about the next chapter of AgroFresh under our new CEO, Jordi Ferre."
For earnings history and earnings-related data on AgroFresh Solutions (AGFS) click here.
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