AgroFresh Solutions (AGFS) Misses Q1 EPS by 21c

AgroFresh Solutions (NASDAQ: AGFS) reported Q1 EPS of ($0.26), $0.21 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $38.35 million.

• Net sales of $38 million, up 17 percent versus the first quarter of 2017
• Excluding Tecnidex, revenue up marginally from a strong first quarter of 2017, net of an approximately $0.8 million revenue deferral as a result of the adoption of ASC 606
• First quarter 2018 net loss was $13 million compared to a net loss of $12 million for the first quarter of 2017
• First quarter EBITDA[1] of $10 million, essentially flat compared to the year earlier period
• $3 million of cash generated by operations for the first quarter of 2018
• Quarter end cash of $57 million after disbursing approximately $10 million in payments related to obligations owed to Dow
• Percentage of sales from apple applications reduced from 77 percent in the first quarter of 2017 to 61 percent in the first quarter of 2018
• For earnings history and earnings-related data on AgroFresh Solutions (AGFS) click here.

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